The Global Breastfeeding Accessories Market is anticipated to reach USD 2.4 billion by 2025, according to a new report by Hexa Reports. The market is expected to exhibit lucrative growth during the forecast period, owing to rising consumer awareness about breastfeeding accessories coupled with decreasing infant mortality rates.
Worldwide declining infant mortality rate is expected to fuel the demand for breastfeeding accessories. For instance, according to statistics provided by the World Health Organization (WHO), the infant mortality-rate has declined from around 63 deaths per 1000 births in 1990 to 32 deaths per 1000 births in 2015, more specifically, decreased from 8.9 million in 1990 to 4.5 million in 2015.
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Additionally, as per statistics published by the U.S. Centers for Disease Control and Prevention (CDC), the infant mortality-rate in the U.S. declined from 6.86 infant deaths per 1,000 births in the year 2005 to 5.82 in 2014 (15.0% decrease). This decreasing infant mortality rate is expected to grow their population, resulting in growing target customer base for breastfeeding accessories.
Continuous encouragement from various government across the world to breast feed babies up to the age of 6 months coupled with support from international agencies for arranging campaigns in order to increase awareness about breastfeeding are expected to support the breastfeeding accessories market growth. Additionally, rising trend of delayed parenthood after gaining financial security is anticipated to increase the spending on premium baby products, thereby assisting in the growth of this vertical.
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Further Key Findings From the Study Suggest:
- The breastfeeding storage & feeding segment held lucrative market share in 2016 and is expected to grow at a significant rate over the forecast period owing to increasing penetration rates for the breastmilk containers, breastmilk storage bags & bottles, and feeding systems, as they are Bisphenol A (BPA) & Benzoyl Peroxide (BPS) free
- The nipple care products segment is expected to be the fastest segment during the forecast period owing to rising demand for nipple shields, nipple puller, nipples & lids from lactating mothers to effectively latch baby on nipples in order to breastfeed efficiently
- North America is expected to dominate the breastfeeding accessories market over the forecast period due to increasing number of working mothers in the U.S., growing awareness about breastfeeding accessories, and improved healthcare infrastructure
- Some of the key players in breastfeeding accessories market are Koninklijke Philips N.V.; Medela LLC; Newell Brands; Ameda; Pigeon Corporation; Nuby; Mayborn USA Inc.; Artsana S.p.A.; Edgewell Personal Care; and Handi-Craft Company
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