Baby Product Market is Expected To Witness Growth at a CAGR of 5.5% from 2019 to 2025: Grand View Research Inc.
The global baby products market size is expected to reach USD 16.78 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to register a healthy CAGR of 5.5% over the forecast period. Increasing population in emerging economies of Asia Pacific including India and China is likely to drive the demand for baby products over the forecast period. Increased spending capacity in developed economies of North America and Europe will also augment industry growth over the next few years.
Moreover, rising awareness about infant nutrition, hygiene, and safety in developing regions will fuel the demand further. Continuous innovation in the field is also expected to propel industry growth in future. Cosmetics and toiletries segment held the largest share in the global market. Cosmetics help enhance infant skin, provide nourishment, resist swelling, itching, rashes, and inflammations. Apart from that they possess antibacterial, antifungal, antimicrobial properties, which soothe and provide luster to the skin.
These beneficial properties are expected to drive the demand over the forecast period. Infant food provides essential ingredients, which include vitamin B12, protein, carbohydrate, and iron, which are required in different growth phases to develop a good immune system. Availability of different food varieties coupled with its ease of use during travelling is expected to have a positive impact on the segment growth.
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Further key findings from the study suggest
- The global baby products market is expected to witness a CAGR of 5.5% from 2018 to 2025 owing to increased female working population resulting in higher demand for ready-to-use items
- Cosmetics & toiletries will witness the fastest growth at a CAGR of 5.7% from 2018 to 2024 owing to rising awareness regarding infant hygiene
- Asia Pacific market was the largest baby products market in the past and will expand further on account of growing awareness about baby nutrition, hygiene, and safety
- Key companies in the global market include Procter & Gamble Company, Kimberly-Clark Corporation, Johnson & Johnson PLC, Unilever PLC, Nestle S.A., and Abbott Nutrition
- Most of these companies focus on increasing their global presence through M&A and brand awareness activities
- For instance, in 2017, Abbott Nutrition announced its acquisition over Alere, Inc. The acquisition was intended to strengthen Abott’s presence in the diagnostics market
Grand View Research has segmented the global baby product market on the basis of product and region:
Baby Products Outlook (Revenue, USD Billion, 2014 - 2025)
- Cosmetic & Toiletries
- Baby Skin Care Products
- Bath Products
- Baby Hair Care Products
- Other Cosmetics & Toiletries
- Baby Food
- Milk Products
- Frozen Baby Food
- Baby Juice
- Baby Food Snacks
- Baby Food Cereals
- Baby Safety & Convenience
- Baby Strollers
- Baby Car Seats
Baby Products Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North America
- Asia Pacific
- South & Central America
- Middle East & Africa (MEA)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.