Wilmington, Delaware, United States – October 17, 2023 – Transparency Market Research Inc. has projected a robust growth trajectory for the global baby care products market, forecasting a Compound Annual Growth Rate (CAGR) of 6.2% from 2021 to 2031. According to a report released by TMR, the market is poised to attain a valuation of USD 163.4 billion by 2031, compared to its anticipated closure at USD 100.9 billion in 2023.
The surge in awareness regarding the health and hygiene of infants in developing nations is a pivotal factor fueling the expansion of the global baby care products market. This report explores the dynamics and drivers shaping this industry.
The urbanization trend has triggered shifts in lifestyles and a heightened demand for convenience-based baby care products. Urban parents are increasingly opting for disposable diapers, ready-made baby food, and other user-friendly solutions. Elevated disposable incomes in various regions have led to greater investments in premium and organic baby care products as parents prioritize the safety and well-being of their children.
The market has also experienced an upswing in health-conscious consumers who prioritize the safety of baby products, fostering a surge in the demand for natural, organic, and hypoallergenic baby care items.
Key Industry Insights:
As of 2022, the baby care products market was valued at USD 95.0 billion.
The baby cosmetics & toiletries segment is anticipated to dominate the market based on product type during the forecast period.
The online distribution channel is expected to generate high revenue during the forecast period.
