Baby Care Products Market to Witness Marginal Decline in Near Term amid COVID-19 Pandemic
Published : 02 Dec 2020 Industry: Consumer Goods
The global baby care products market is projected to be valued at over US$ 8 billion in 2020, and is anticipated to surpass nearly US$ 19 billion by 2030. The spread of COVID-19 has brought a decline in demand for some baby care products, due to customer preference of spending on more important daily consumer products. Likewise, declining requests from institutional buyers such as hospitals, baby day care centers, etc., is causing a decrease in demand in the baby care products market. However, the market will show better development during the recuperation time of the COVID-19 pandemic, owing to the strong hold of this market in developing nations that have a large customer base.
Key Takeaways from Baby Care Products Market Study
- Europe is dominating the global baby care products market with a share of around 42%. Primary reason for this domination is easy availability of products due to high number of brick and mortar stores.
- The baby care products market in Asia Pacific is likely to register an absolute dollar opportunity of over US$ 2.6 billion over the period of 2020 - 2030, due to increasing infant population in the region along with higher purchasing power.
- Feeding accessories among baby care products are expected to show strongest growth, owing to their cost efficiency, applicability, and availability.
- Rising urban population is one of the main factors causing an increase in demand for baby care products, globally.
“Companies should perceive baby care products through babies’ general acceptance, rather than the requirements of parents only,”says a Fact.MR analyst
Product Launches to Enhance Market Resiliency
Key players in the baby care products market are Philips, Brand of Helen of Troy including Honeywell, OXO, Braun etc., Dyson, Medela, Munchkin, Mayborn, Graco, Kimberley & Clark, Procter & Gamble, and others. Some of the recent product launches include:
- In August 2020, MaxFlow Technology based breast pumps, pioneered by Medela, were launched to generate vacuum with micro-vibrations for increased milk flow.
- In April 2020, Dyson launched the first three-in-one air nursery purifier, humidifier and fan, with a bladeless structure at its top.
- In March 2020, Munchkin launched a mini sterilizer, which uses UV-C light to eliminate bacteria and viruses from small baby items.
Find More Valuable Insights on Baby Care Products Market
Fact.MR, in its new offering, presents an unbiased analysis of the global baby care products market, presenting historical demand data (2015-2019) and forecast statistics for the period of (2020-2030). The study divulges essential insights on the baby care products market on the basis of product (health devices, feeding accessories, security devices, comfort facilitators, sleep facilitators, and baby personal care products), buyer (residential and institutional), and sales channel (modern retail, specialty stores, online retailers, and others), across 7 regions.
About the Retail & Consumer Goods Division at Fact.MR
Retail and consumer goods analysts at Fact.MR have been categorically tracking the broader sub-industries to keep themselves abreast of the recent happenings in the market. Our practical approach to product design and pricing strategy contributes to the growth of businesses that are struggling to hit the ‘move-the-needle’ bottom line. With unmatched analytical diligence, the team at Fact.MR helps organizations design product differentiation strategies and introduce exclusive product(s) to their existing portfolio. For more retail industry insights, visit here.