10 September 2019
Visiongain’s new report the Baby Product Market Report 2019-2029: Forecasts by Product (Cosmetic & Toiletries, Baby Food, Baby Safety & Convenience), by Region and Analysis of Leading Companies Operating in This Industry. The global baby product market size was valued at USD 11 billion in 2018 and is expected to grow by virtue of increasing population followed by rising concern regarding health & safety.
Rising spending capability and changing lifestyles is expected to drive the global baby product market. Rapid urbanization and growing middle-class population across several developing regions such as India, China, and Brazil are driving the market further. Changing lifestyle, particularly in developing countries, has encouraged the adoption of convenience-oriented routine, making these items desirable, which will fuel the industry growth over the forecast period.
In addition, increasing consumer awareness of child health is boosting these products ' sales, thereby increasing the growth of the industry. Manufacturers have been promoting baby hygiene with the support of government and NGOs, which will in turn fuel the demand for various cosmetics and toiletries such as skin, hair care and other products. Baby food is the second largest segment and over the forecast period it is anticipated to acquire important share.
This development can be ascribed to increased knowledge in infant foods about vital components such as vitamin B12, iron, protein, and carbohydrates. Through countless electronic and print media programs, awareness generated by various private and government companies is also anticipated to stimulate sector development in the future. In addition, technological advances in the production method of these products have led in superior product quality, which is supposed to increase revenues, especially in developing nations.
The biggest section of cosmetics and toiletries accounted for over 40% of the worldwide share in 2018. The segment is further segmented into products for skin, bath, hair care and bath that deliver advantages including dry skin protection. Major businesses focused on developing enhanced products with improved technology in terms of design, structure, and efficiency. Emerging economies governments are conducting baby care programs to raise awareness of the advantages of such products. These factors are expected to positively impact the segment growth over the coming years.
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