Across the world, the spending behavior for baby care products is considerably dependent on the demographic breakdown of a society. For instance, family size, income levels, and educational backgrounds influence the spending habits of individuals and many are opting for convenient and easy-to-use products. Along with this, the need to maintain hygiene among children, which is related to proper development, is driving the sales of baby care products.
Baby cosmetics and toiletries, baby safety and convenience products, and geography are the criteria based on which the baby care products market is divided in this report. Based on each criterion, the various segments and sub-segments are examined for growth trends and market size analytics for the 2007-2017 period. Following this, market drivers and product development parameters are scrutinized to assess growth opportunities for market participants.
The report points out the high product development cost of baby care products as the reason for the limited entry of new players into the market. Some other barriers on entry into this market are the stringent regulations for the commercialization of baby care products and the high number of clinical trials required prior to market entry. Nevertheless, not all products incur high development costs and high costs on compliance with strict product specification requirements; thus, the market will witness increasing participation from new entrants in the future.
Overview of Global Baby Care Products Market
The global market for baby care products is poised to rise at a CAGR of 7.0% from 2012 to 2017, leading to the market’s valuation increasing from US$44.7 bn to US$66.8 bn between 2011 and 2017. Currently, the EMEA region is dominant in this market and is expected to retain its dominance in the forecast period, with a share of close to 34.7% expected for the region in the global market by the end of 2017. This region will be trailed by Asia Pacific in terms of market share due to the increasing middle-class population with rising disposable incomes.
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The baby care products market is displaying a steadfast growth rate due to several reasons. The rising number of live births in developing nations and considerably rising disposable incomes in these regions are the reasons for high spending on convenient baby care products. In addition, the rising preference to having children at a relatively higher age and the large number of women in the workforce are driving sales of baby care products.
Product-wise, baby cosmetics and toiletries contribute a significant revenue to this market. In 2011, this segment contributed 92.2% of the overall revenue of the market. In absolute numbers, the baby cosmetics and toiletries segment was valued at US$41.3 bn in 2011. Between 2012 and 2017, the product segment will display a 7.1% CAGR and will be valued at US$62.3 bn by the end of 2017.