Baby care products form a huge global market with products offered in a number of segments. Parents have become more conscious about the needs of the babies between the age group of 0 and 4. As a result, the online directories have discovered a new category in the form of baby care products.More than 50 countries have the market catering to the products manufactured and traded under the baby care category. How has the trend grown over past few years and what can be expected in the future? Have an insight of the baby care market form the following discussion.
Global Baby Care Products Market
The global baby care market witnessed a compounded annual growth rate of 2.7 percent from 2003 to 2008. More than 80 percent of the total share was held by the category of baby diapers. The forecast about the industry shows that different segments of the industry will keep on enjoying a consistent growth rate.
Local Baby Care Markets
On one end, the United States records small growth percentage of baby care products. And on the other end, the developing countries like India have recorded higher growth percentage in the past few years. According to the analysis, the baby care market in India stood up at INR 15 billion in the year 2008. The industry is expected to reach the worth of INR 28 billion by the end of 2012 by experiencing a compounded annual growth rate of 17 percent.
The main segments of the baby care products market include baby food, skin care, hair care, diapers and toiletries. Some of the main factors responsible for an increase in the demand of these products include:
- The consistent birth rate
- Increased population of working women.
- Increase in disposable income and
- Innovative baby care products launched in the market.
Another reason for the growth of baby care market is the expansion of the market to the rural areas of the country.
So, there is huge expectation of the baby care market to show progress especially in the developing nations. The introduction of organic baby products can further boost the progress rate.
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