LONDON, Feb. 28, 2017 /PRNewswire/ -- The global baby product market is expected to reach USD 121.0 billion by 2025, according to a new report by Grand View Research, Inc. Rising spending capability in matured economies of North America and Europe will augment industry growth over the next nine years.
Increasing birthrate in emerging economies of Asia Pacific including India and China is anticipated to drive the demand for infant items over the forecast period. Rising awareness among the customers about infant nutrition, hygiene, and safety in the region will fuel demand over the forecast period. Continuous innovation among manufactures is expected to propel industry growth over the forecast period.
Cosmetics & toiletries held the largest share in the market. Cosmetics help to enhance infant skin, provide nourishment, resist swelling, itching, rashes and inflammations. Apart from that it tends to posses' antibacterial, antifungal, antimicrobial, 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 vitaminB12, protein, carbohydrate, and iron which are required in different growth phases of babies, so as to develop a good immune system. Rising number of food varieties coupled with its ease of use when travelling is expected to have a positive impact on the market over the forecast period.
Further key findings from the report suggest:
Baby product market is expected to witness growth at a CAGR of 6.9% from 2016 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 7.3% from 2016 to 2024 owing to rising awareness regarding infant hygiene
Asia Pacific market was estimated at over USD 17 billion in 2015 on account of growing awareness about baby nutrition, hygiene and safety coupled with increased disposable income
Key participants include:
Procter & Gamble Company, Kimberly-Clark Corporation, Johnson & Johnson Plc, Unilever Plc, Nestle S. A, and Abbott Nutrition
Key companies in the market are focused on increasing their global presence through mergers & acquisitions and brand awareness. In November 2016, Dabur South Africa (Pty) Ltd acquired South Africa's CTL Group of Companies personal care, hair care & creams businesses for USD 1.3 million
In July 2016, Johnson & Johnson Consumer Inc. completed the acquisition of Vogue International LLC, which is engaged in the manufacturing and distribution of hair care and other personal care products for $3.3 billion
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