PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1490138
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1490138
The Diaper Bag Market is estimated to be valued at USD 755.8 Mn in 2024 and is expected to reach USD 886.2 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 2.3% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 755.8 Mn |
Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: | 2.30% | 2031 Value Projection: | US$ 886.2 Mn |
The diaper bag market has seen significant growth over the past decade. As more families are opting to have children later in life, the importance of stylish and functional diaper bags has risen. Diaper bags need to accommodate all the essential items parents need when going out with a baby like diapers, wipes, extra clothes, toys and snacks while also being comfortable to carry. Leading brands are innovating bag designs that are easy to clean, spacious yet compact, and come with special compartments for organizing all baby care products. The rising popularity of elegant diaper bag backpacks and messenger styles suitable for both parents also point towards the premiumization of the market. With growing popularity of dual-income families globally, demand for versatile diaper bags is expected to drive further growth opportunities in the market.
Market Dynamics:
The global diaper bag market is expected to witness substantial growth over the next eight years. Some of the key drivers contributing to market growth include the rising birth rates in developing economies, increasing participation of fathers in childcare, growing fashion consciousness among parents and premiumization of baby products. However, availability of cheaper alternatives remains a challenge along with growing popularity of multipurpose bags that can serve both as diaper bags and other regular bags. On the opportunity side, innovations catering to specific needs like discreet wet pockets and special compartments for easy access to items are gaining popularity. New entrants are also focusing on eco-friendly bags and collaborative designs endorsed by celebrities to increase brand visibility.
Key Features of the Study:
Detailed Segmentation-