According to a new report published by Allied Market Research, titled, “Baby Care Products Market,” The baby care products market size was valued at $38.0 billion in 2021, and is estimated to reach $58.8 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031.
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With the goal of promoting newborns’ general health and wellbeing, the baby care products provide total skin care. Baby lotions, powders, oils, and creams are among the skin care items. The hair is nourished by hair care products including shampoos and detanglers. Wipes and diapers are used to clean and remove dust from the body, leaving the infant feeling clean and fresh. However, the inclusion of several dangerous substances in these goods is probably going to impede market expansion.
Increased infant hygiene care, rising birth rates, and rising consumer disposable income all contribute to the baby care products market expansion for baby care items. The market’s expansion is further aided by the availability of a premium selection of branded goods through a variety of offline and online channels, including retail stores, supermarkets, and official brand shops, as well as online marketplaces like Amazon, Flipkart, and Alibaba. However, the expansion of the baby care products market is hampered by the presence of harmful chemicals in baby products like powders and wipes. The industry has a lot of room to develop as more women join the workforce in nations like the U.S., South Africa, and India because to the convenience and work-life balance that these products offer.
Additionally, sales of baby care products are being driven by awareness of newborn health. Baby care necessities including diapers, thermometers, and moisturizers are all covered by these products. As a result, the demand for the same has significantly increased over the past few years. Additionally, using baby care products is producing fantastic effects. As a result, parents are being influenced to spend money on baby care products. This is creating baby care products market opportunity globally.
According to global baby care products market analysis, the baby care products market is segmented into product types, price point, distribution channel, and region. On the basis of product types, the market is classified into baby skin care, baby hair care, baby food & beverage, and others. Among these, the baby hair care segment occupied the major baby care products market share of the market in 2021, and is projected to maintain its dominance during the baby care products market forecast period. The growth of the baby hair care segment is attributed to the growing concerns regarding hair or scalp diseases. However, the baby skin care products segment is anticipated to grow at highest CAGR in the future.
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By price point, it is bifurcated into low, medium, and high. The medium segment is anticipated to grow at the highest rate during the forecast period, owing to growing demand for reasonable priced products in developing or underdeveloped regions.
As per distribution channel, it is categorized into supermarkets & hypermarkets, drug stores or pharmacy, mass merchandiser, departmental stores, mono-brand stores, specialty stores, online sales channel, and others. The specialty stores segment is anticipated to grow at highest CAGR during the forecast period, due to easy gratification to the customers.
In 2021, Europe accounted for 35.9% in the global baby care products market, and is expected to maintain its dominance during the forecast period. However, North America and Asia-Pacific are expected to possess the highest CAGRs, owing to rise in health concerns of babies and increase in popularity of baby care products in these regions.
Despite the bad circumstances, the COVID-19 pandemic did result in some good situations. The creation of vaccines and their acceptance in a few nations brought some relief. After the pandemic, it’s anticipated that the market for baby care goods will recover in a V-shape. In the fourth quarter of 2020–2021, a rise in revenue has been observed among the major market participants.
The major players analyzed for global baby care products industry are Baby Brezza, Beiersdorf, California Baby, Cotton Babies Inc., Dorel Industries Inc., Helen of Troy Limited, Johnson & Johnson, Kimberly-Clark, Koninklijke Philips N.V., Munchkin, Inc., Nestle SA, Procter & Gamble (P&G), Sebapharma GmbH & Co. KG, and Unilever.
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KEY FINDINGS OF STUDY
- By product types, the baby hair care segment was the highest revenue contributor to the baby care products market, with $17,601.2 million in 2021, and is estimated to reach $26,565.7 million by 2031, with a CAGR of 4.3%.
- Depending on price point, the high segment was the highest revenue contributor to the market, with $16,345.4 million in 2021, and is estimated to reach $24,806.6 million by 2031, with a CAGR of 4.3%.
- As per distribution channel, the drug stores or pharmacy segment was the highest revenue contributor to the market, with $8,861.2 million in 2021, and is estimated to reach $13,367.2 million by 2031, with a CAGR of 4.3%.
- Region wise, Europe was the highest revenue contributor, accounting for $13,698.0 million in 2021, and is estimated to reach $20,039.2 million by 2031, with a CAGR of 3.9%.
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