Global baby care market to reach $66.8bn in 2017: Study

Global baby care products market is forecasted to grow at a Compound Annual Growth Rate (CAGR) of 7% from 2012 and touch $66.8bn mark in 2017, according to a research study by Transparency Market Research.

The report, ‘Baby Care Products Market – Global Industry Analysis, Market Size, Share, Growth and Forecast 2007 – 2017’, said that the baby care market was worth $44.7bn in 2011 and marching to reach $47.7bn in 2012.

Europe, the Middle East and Africa (EMEA) is expected to stay atop in revenue terms until 2017 and have 34.7% of global baby care market revenue share in 2017, followed by Asia-Pacific.

EMEA aims at reaching $23.5bn in 2017 with a CAGR of 7.3% during the forecasted period 2012 to 2017, while Latin America is expected to witness fastest growth rate of 8.9% during the same period.

The report also noted that the growth is driven by the growing baby population in developing countries where parents’ disposable incomes have considerably went up, while higher aged parents turning out to be financially stable to spend more money for their baby’s care.

Women working in the mainstream and contributing to the increase in average disposable income have also boosted the baby care segment with noted growing trend in baby-specific products that doesn’t pose any threat to the baby’s health, according to the report.

The major share in baby care market is shared between baby skin care and toiletries categories, while the hair care segment witnessed a little market penetration along with sun care segment, as parents usually avoid taking babies into sunlight.

Largely fragmented market is mostly dominated by major manufacturers including Procter & Gamble (P&G), Kimberly-Clark and Johnson & Johnson (J&J) with brands such as Huggies, Pampers, GoodNites and DryNites and other baby skin, sun, hair and bath products.

The report also identifies the driving forces behind the baby care market, its current trends, industry drivers and challenges for better baby care market structure and offers product- and geography-based segregated points.