PUBLISHER: Grand View Research | PRODUCT CODE: 1433677
PUBLISHER: Grand View Research | PRODUCT CODE: 1433677
The global baby products market is expected to reach USD 475.15 billion by 2030, and is expected to grow at a CAGR of 5.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. One of the primary factors driving market expansion is the shift in consumer preferences toward high-quality, utility-driven, and premium baby products. In addition, the significant increase in awareness among parents about baby health and hygiene is also driving market expansion. Many medical practitioners recommend parents to use baby personal care products regularly to nourish their baby's skin, which boosts market growth.
Many parents are seeking hygienic and moisture-based products, such as creams and wipes, to avoid skin infections and treat diaper rashes. Moreover, parents are seen to be spending more on child care than ever before, especially after the pandemic. For instance, Child Care Aware of America (CCAoA) found that the national annual average price of child care for 2022 was USD 10,853. Moreover, the Move.org figures reported that in April 2021, parents in the District of Columbia are spending 26.3% of their income on infant care, followed by 24.4% in Massachusetts, 21.9% in Indiana, and 21.3% in New York as of March 2021.
The baby safety & convenience segment is projected to grow substantially during the forecast years. A rise in the number of car accidents has been driving the demand for baby car seats that are also fitted with unique features. This feature involves car seats such as anti-rebound bars to keep the seats steady in case of collision and a foam layer with energy absorption. An increasing number of internet users, a fast-paced lifestyle, and the penetration of e-commerce platforms are projected to boost the online distribution of these products. Detailed product descriptions, product comparison features, product ratings & reviews, and easy exchange and refund options further augment sales of baby care products via this channel.
Mass baby products is expected to hold a market share of 74.1% in the market by 2030. Affordability is a key driver for the increased demand for mass baby products. As parents seek cost-effective options without compromising on quality, mass baby products become an attractive choice. These products are often competitively priced, making them accessible to a larger consumer base. Furthermore, the growing emphasis on value for money and the increasing number of price-sensitive consumers have further fueled the demand for mass baby products as parents are looking to seek solutions that meet their baby's needs without stretching their budgets.
Baby products are sold through various distribution channels such as hypermarkets & supermarkets, specialty stores, pharmacies & drugstores, online, and departmental stores, among others. The sales of baby products through specialty stores is expected to grow at a CAGR of 6.3% from 2024 to 2030. Specialty stores focusing on baby products offer a wide range of specialized items tailored specifically for infants and young children. These stores employ knowledgeable staff who can provide expert advice and guidance to parents, helping them make informed purchasing decisions. The curated product selection ensures that parents have access to high-quality, age-appropriate, and unique baby products.
Moreover, the opening of new specialty stores specifically for infants and toddlers is further expected to augment the market growth. For instance, in April 2023, Babies "R" announced the opening of its first baby store at American Dream in the U.S., scheduled for mid-summer. This new store aims to cater to the needs of new and expecting parents by providing interactive experiences such as a stroller test track. In addition, the store will feature a baby registry lounge, a nursery design center, a learning center for private events and workshops, and a comfortable zone where parents can feed or change their babies.
The Asia Pacific region is expected to grow at a CAGR of 6.6% from 2024 to 2030. The rising population and increasing disposable income in many countries within the region have led to higher spending on baby products. According to the 2022 World Bank data, more than 45% of babies in the age group of 0 years to 24 months reside in the Asia Pacific region, further contributing to the increasing demand for baby products. In the Asia Pacific region, India's baby products industry is projected to grow at a CAGR of 7.2% over the forecast period. India has a large and growing population, including a significant number of young parents. The increasing number of babies being born in India contributes to the overall demand for baby products. According to the World Mapper statistics of 2022, India registered the highest number of births, reaching 23 million.