According to a recent market research report published by Transparency Market Research, the global baby care products market is estimated to expand at a CAGR of 7.0% during the period between 2007 and 2017. The report, titled “Baby Care Products Market – Global Industry Analysis, Market Size, Share, Growth and Forecast 2007 – 2017,” projects the global baby care products market to be worth US$66.8 bn by 2017. The overall market was valued at US$44.7 bn in 2011.
The demand for baby care products depends on a number of factors such as income level, family size, awareness about hygiene, and spending habits of parents. The global baby care products market has witnessed significant demand across developing economies due to the rise in disposable incomes among the increasing middle-class population.
The report points out that the growing population of babies and decreased infant mortality rate due to the availability of better healthcare facilities in developing economies have boosted the growth of the global baby care product market. Increase in the average lifespan of parents, coupled with the increasing number of women entering the mainstream workforce, has further propelled the market’s growth. However, the high product development cost of baby care products and the stringent regulations regarding commercialization of baby products have limited the entry of new players in the market.
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In terms of product types, the report segments the global baby care products market into two broad categories: baby cosmetics and toiletries, and baby safety and convenience products. The baby cosmetics and toiletries segment has been further divided into baby skincare, hair care, bath products, and toiletries. Baby safety and convenience products include baby car seats, baby strollers, and natural and organic baby care products. The baby cosmetics and toiletries segment dominates the overall market. In 2011, this segment accounted for 92.2% of the total market revenue and was worth US$41.3 bn. During the forecast period, the baby cosmetics and toiletries segment is estimated to expand at a CAGR of 7.1% and reach a valuation of US$62.3 bn by 2017.
The report studies the baby care products market across four key regions: North America, Asia Pacific, Latin America, and EMEA. Currently, EMEA is the leading region in the overall baby care products market, followed by Asia Pacific. In 2011, Asia Pacific and EMEA accounted for 28.7% and 34.5%, respectively, of the overall market revenue. By 2017, the baby care products market in EMEA is estimated to be worth US$23.5 bn. However, during the forecast period, Latin America is projected to be the fastest growing market, expanding at a CAGR of 8.9%.
The presence of a number of product categories has made the global baby care products market fragmented. Some of the key players in the market are Kimberley-Clark Corporation, Procter & Gamble, and Johnson & Johnson. The report provides detailed information about the market players, including their business and corporate-level strategies, and financial performance. Currently, P&G leads the overall market with its premium brand of diapers, ‘Pampers’. Kimberley-Clark has emerged as the second largest market player.