Global Baby Products Market was valued at USD 215.1 Billion in 2021, and it is projected to reach a value of USD 325.57 Billion by 2028, at a CAGR of 6.10% over the forecast period (2022 -2028).
Westford, USA, 02 Dec. 2022 (GLOBE NEWSWIRE) — Insight SkyQuest has released its annual report on the baby products market, providing an overview of key industry trends and developments. The report notes that the market continues to grow in both developed and emerging markets, driven by a combination of factors such as population growth, urbanization and rising incomes. In terms of value, the global market will reach approximately US$325.57 billion by 2028.
One of the key trends highlighted in the report is the growing focus on health and wellness among parents, which is driving demand for natural and organic products. This is particularly evident in developed markets such as Europe and North America, where there is greater awareness of the potential impact of chemicals on health. Another significant trend in the global baby products market is the growing popularity of “baby slings”, which has seen an increase in sales of baby carriers and slings. This is driven by parents’ desire for more convenience and flexibility when traveling with young children.
Product segments such as baby food, diapers and strollers are expected to grow at above average rates during the forecast period. The Asia-Pacific region is expected to be the fastest growing market for baby products, due to the rapid growth of population and middle-class consumers in countries like China and India.
Our analysis predicts that the top five players in the global baby products market will generate around 40% of the total industry revenue by 2028. The competitive landscape is currently dominated by multinational corporations such as P&G, Nestle, and Johnson & Johnson . However, there are a growing number of regional players who are making inroads in the market share of these incumbents with their innovative products and aggressive marketing strategies.
Looking to the future, SkyQuest expects the global baby products market to continue growing at a healthy pace over the next five years, fueled by continued economic growth in emerging markets.
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Parents are likely to spend more than 99.75 billion on baby food products: products related to health and well-being must remain the top priority
SkyQuest found that the global baby food market spending will reach $99.75 billion in 2028 from $74.57 billion in 2021. It was also found that online sales will account for 32.1% of total baby product sales in 2028, up from 19.4% in 2021. Today, parents are increasingly turning to online retailers for their baby product needs as they offer a wider range of products and more convenient delivery options. Additionally, online retailers are able to offer lower prices than physical stores, thanks to their lower overhead. Indeed, parents are more and more demanding on the quality of the products they buy for their babies. They are willing to spend more on items that are environmentally friendly and/or made from natural materials.
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Parents are willing to spend on high-end health and wellness products
In its annual survey of global spending on baby products market, SkyQuest found that parents are spending more on baby products than ever before. The average parent now spends $1,600 on baby products each year, up from $1,400 in 2017. The survey also revealed that parents are increasingly willing to spend money on high-end products to babies. In particular, parents are willing to spend more on items they perceive to be essential to their child’s development and well-being. The most popular items purchased by parents include: baby food and formula, baby clothes, baby toys and equipment, diapers and wipes, and baby health products.
The Global Baby Products Market Research, which surveyed more than 1,000 parents of children under five in 10 countries, found that parents are increasingly willing to spend more on baby products. quality for their children. In particular, parents are willing to spend more on items that support their child’s health and well-being. This includes organic foods, educational toys and equipment, and health-related products. The survey also revealed that parents are increasingly using technology to research and purchase baby products.
More than 51% of respondents said they use online resources to search for information on baby products, and 41% said they have purchased baby products online in the past 12 months. With global spending on baby products expected to increase in the coming years, it’s clear that parents are increasingly willing to invest in their child’s health and well-being.
So what does all of this mean for marketers in the baby products market? First, it means there is a growing global market for baby products. This is an opportunity for companies to increase their sales and market share by investing in e-commerce and/or expanding their product offering. Additionally, companies should focus on creating products that meet the needs of modern parents, such as products that are environmentally friendly and/or made from natural materials.
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Digital presence could be a tipping point for manufacturers in the baby products market
In partnership with its clients, SkyQuest drives digital transformations, builds agile organizations and creates value through growth initiatives, delivering results that matter. In today’s rapidly changing digital world, many industries are facing major disruption. The consumer packaged goods (CPG) industry is no exception. Increasingly, CPG companies are turning to digital solutions to help them navigate this new landscape. To better understand the impact of digital on the CPG industry, we conducted an in-depth study of the sector.
The Global Baby Products Market study included interviews with more than 100 baby product company executives from around the world, as well as an online survey of 1,500 consumers in five key markets: United, China, India, Brazil and Russia.
The study found that the CPG industry is at a tipping point, and baby product companies are uniquely positioned to capitalize on the opportunity presented by digital growth and presence. In fact, our analysis showed that baby products companies are twice as likely as other CPG companies to be “digital leaders”, meaning they are early adopters of new digital technologies and use them to drive business results. Digital leaders outperform their peers in several key areas: they grow faster, generate higher margins, and gain market share in e-commerce. They are also more likely to report increased sales through digital channels and higher customer satisfaction scores.
In its analysis, SkyQuest covers the global baby products market size and growth, key industry players, trends impacting the market and future prospects. It also provides an overview of the competitive landscape and profiles the major companies operating in the space. This is essential reading for anyone looking to learn more about the baby products industry or looking for advice on its future.
Key Players of the Global Baby Products Market
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Johnson & Johnson (USA)
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Procter & Gamble Co. (USA)
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Avon Products, Inc. (USA)
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Beiersdorf AG (Germany)
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Kimberly-Clark Corporation (USA)
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Unilever (UK)
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L’Oral SA (France)
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Alliance Boots GmbH (Germany)
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Marks and Spencer plc (UK)
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Chicco (Italy)
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Dorel Industries (Canada)
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Fujian Hengan Group (China)
Related Reports in the SkyQuest Library:
Global high-end cosmetics market
Global personal care wipes market
Global Organic Skin Care Market
Global Cosmetic Pigments Market
Global mouthwash market
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