ALBANY, New York, April 26, 2018 /PRNewswire/ --
The baby care products market features the presence of severalleading players who hold prominent positions depending on the product category, finds Transparency Market Research (TMR). Top players in the category of baby cosmetics and toiletries include Kimberly-Clark, Procter & Gamble Company, Johnson &
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Players are focusing on a wide range of strategies to gain a better foothold in the market. TMR notes that companies are broadly engaging in research and development activities, entering into strategic mergers and acquisitions, and harping on launching innovative products, in order to consolidate their shares in the market. Strategic partnerships and agreements is one of the key moves made by several prominent players to gain a better hold over the market. Furthermore, few of the top players are launching an assortment of new product lines to maintain their stronghold in the market.
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The global baby care products market is projected to rise at a CAGR of 5.0% from 2018 to 2026, reaching a worth of US$ 109.13 Bn by the end of this period.
Regionally, Asia Pacific held the major share in the global market in 2017 and is expected to hold the sway throughout the forecast period. This can be attributed largely to the substantial rise in discretionary spending by parents, especially in emerging economies, on various healthcare products for the wellness of their babies.
The key distribution channels for baby care products comprise online and offline channels. Of the two, the online channel is expected to rise at a higher pace over the forecast period. The adoption is driven primarily by the widespread traction that online platforms are gaining across buyers in several countries world over.
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Rise in Disposable Incomes ups Discretionary Spending by Parents on Variety of Baby Care Products
The baby care market is boosted by the substantial rise in disposable incomes of populations in emerging economies and a burgeoning labor force participation in various parts of the globe. The global market is witnessing a robust impetus from the bold strides taken by distribution channels, particularly online, in recent years. The wide awareness about the hygiene and nutritional requirements of babies in emerging and developed economies is bolstering the demand for baby care products. A constantly improving economic conditions in numerous developing countries, notably including India, Brazil, and China, is a significant factor contributing to the rapid expansion of the market.
The vast rise in assortment of baby products such as hair care, skin care, convenience, and nutritional products is constantly propelling the growth of the market. The demand is fueled by the growing popularity of a variety of baby care products among parents who are increasingly focused on wellness of their babies.
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Lowe Penetration of Online Distribution and Multi-Level Marketing Channels Glaring Constraint
However, the growth of the market is constrained by few downsides. Distribution channels for baby care products in several developing countries are still emerging. This is further accentuated by a markedly low penetration of multi-level marketing channels, thereby adversely affecting price-sensitive markets. However, several of these restraints will be taken in the stride by the rapid advances made by e-commerce industry world over.
The sustained focus by a growing number of players in developing new product categories and constant innovation will keep expanding the horizon of the market. The innovations will be reinforced by the rising demand for organic baby care products.
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The study presented here is based on a report by Transparency Market Research (TMR) titled "Baby Care Products Market (Product Type - Baby Cosmetics and Toiletries (Baby Skin Care Products (Baby Massage Oil, Baby Lotions, Creams/Moisturizers, and Talcum Powder), Baby Hair Care Products (Baby Shampoo and Conditioner and Hair Oil), Baby Bath Products (Soaps and Bubble Bath/Shower Gel), Diapers ( Cloth, Waterproof Nappy/ Disposable Diapers, Training Nappy), and Wipes and Fragrances)), Baby Safety and Convenience Products (Baby Car Seats and Baby Strollers), Bab Food and Baby Formula; Distribution Channel - Online Channel, Offline Channel (Supermarkets & Hypermarkets, Specialty Stores, Drug Stores, and Independent Retail Stores)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2026."
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The baby care products market is segmented based on:
Baby Care Products Market, by Distribution Channel
Baby Care Products Market, by Geography
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