The global baby care products market size was valued at USD 204.75 billion in 2021 and USD 215.13 billion in 2022. The market is expected to reach USD 331.92 billion by 2029 with a CAGR of 6.4% during the forecast period. Baby care products have been growing as they are the basic requirement for any baby. Increase in the number of new born babies has given rise in demand for baby oil, baby shampoo, baby powder, diapers, baby wipes, baby seat and safety products, baby food, baby apparel, and baby toys. Fortune Business Insights™ shares this information in its report titled “Baby Care Products Market, 2023-2029.”
Fortune Business Insights™ lists out all the baby care products market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Johnson & Johnson (U.S.)
- Kimberly-Clark Corporation (U.S.)
- The Himalaya Drug Company (India)
- Procter & Gamble Company (P&G) (U.S.)
- Honasa Consumer Private Limited (Mamaearth) (India)
- Beiersdorf AG (Germany)
- Sebapharma GmbH & Co. KG (Germany)
- Nestlé S.A. (Switzerland)
- Unilever plc (U.K.)
- Essity AB (Sweden)
Report Coverage
The report provides a detailed analysis of the top segments and latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints
Innovation in Baby Food Products to Drive Product Expansion
Innovations in baby care products, which include different blends of fats and proteins is anticipated to drive the baby care products market growth. Increase in demand for high quality infant food products that provide the required nutrition for babies is driving the market growth. In March 2021, Danone, a French company, launched formula milk which will be sold in pre-measured tab format in the U.K. The new formula milk tabs dissolve easily, making it simple and convenient for mothers to feed babies.
However, use of chemicals in baby products makes them unsafe to use on infants. Using such harmful products can lead to various health problems, which is projected to obstruct market growth.
Segments
Cosmetics & Toiletries to Lead Due to a Wide Range of Products
On the basis of product type, the market is divided into cosmetics & toiletries, baby food, baby safety & convenience, and others. Cosmetics & toiletries segment is anticipated to dominate as they are used frequently on baby’s skin. It includes various products such as shampoos, conditioners, soaps, and wipes. They offer various benefits such as rapid hydration and rejuvenated skin. These products are simple to use and offer an efficient way to deal with problems such as dryness, infections, and diaper rashes.
Infants Segment to Lead Due to Growing Demand for Premium Infant Products
Based on end-user, the market is segmented into toddlers and infants. Infants segment is the fastest growing segment as infants can get easily affected and exposed to bacteria. The growing demand for sustainable and premium infant products accelerated the market growth in 2021.
Offline Channel to Lead the Segment Due to Increasing Number of Supermarkets
Based on sales channel, the market is divided into online and offline. Offline segment is expected to have a major part due to rise in supermarkets, hypermarkets, and specialty stores in numerous regions in 2021. Online sales channel is also set to have significant growth due to rise in various e-commerce platforms.
Geographically, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Regional Insights
Asia Pacific to have Dominance in Market Share Due to Increasing Rate of Urbanization
Asia Pacific is expected to govern the baby care products market share as it reached the valuation of USD 67.32 billion in 2021. The region has two of the most populated countries in the world, India and China. Increasing rate of urbanization and rise in spending by the consumers have contributed to the development of the market in 2021.
North America is the second-fastest growing region in the market due to high adoption of baby care kits, including strollers, car seats, baby monitors, and safety gates. Parents in the U.S. focus on products that offer nutritional needs for their babies.
The Europe market is set to have significant growth due to a number of well-informed parents in countries such as Germany, Italy, the U.K., and France.
Competitive Landscape
Acquisition Strategies by Key Players to Develop Market Path
Key players have been focusing on collaboration and acquisition strategies enabling them to gain a competitive edge. In April 2022, ITC, an India-based brand, announced the acquisition of 10% of Blupin Technologies Pvt. Ltd. Later, the company owns the direct-to-consumer mother and baby platform Mylo. Through this acquisition, ITC desires to expand its presence in the baby care D2C market. Focus on growth strategies will help the consumers to gain and expand their consumer base.
Key Industry Development
- July 2022: Johnson & Johnson launched a new skin and hair care brand for babies called "Vivvi & Bloom". The brand is launching shampoo, body lotion, and body massage oil for babies and toddlers. The brand launched the products to meet the increasing need of millennial parents for their little ones.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/baby-care-products-market-104267
