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Global Baby Care Products IndustryMarket Overview
As stated by a report, the global baby care products market is anticipated to witness growth in a profound manner. The market size will grow at a Compound Annual Growth Rate (CAGR) of 5.2% from 2019 to 2025 and will reach to USD 16.78 billion by the end of 2025. Various factors result in expansion of the global baby care products market, some of the factors that are expected to drive the market in the future as well include rising baby health concerns due to incidence of skin diseases and the need for nutritional foods.
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Continuous innovation in baby care products is also expected to fuel the industry growth in future. Using baby care products such as cosmetics help in enhancing infant skin and resisting swelling, itching, rashes etc which in turn is motivating parents to buy these products. Also these products have antibacterial, antifungal, antimicrobial properties which will drive the market in the future. However, concerns regarding the safety standards and lack of awareness among people are likely to hamper the growth of the industry.
Market Segmentation
The global baby care products market has been segregated into type and application. Based on the type, the market has been segmented into Lotion, Massage Oil and Prickly Heat Powder. The cosmetics and toiletries will grow at the fastest rate mainly due to rising awareness regarding hygiene of the little ones. Based on the application, the market has been segmented into 0-12 Month, 12-24 Month, 24-36 Month and others.
Detailed Regional Analysis
The regional analysis will help in getting a clear picture of the market progression in the key regions. The global baby care products market has been analysed across the United States, Europe, India, Japan, China, and Southeast Asia. In terms of growth, the global baby care products market is dominated by North America and Europe. Meanwhile, growing population in the developing markets as compared to developed markets will result in expansion of the APAC market as well during the projected time period. Increasing population in emerging economies of Asia Pacific especially India and China and growing awareness among the parents is likely to propel the demand for baby care products during the forecast period. Some other factors that are likely to increase market size of baby care products in the region include increasing number of female working population which in turn also increase demand for ready-to-use items; increasing awareness regarding infant hygiene etc will push the market size to a greater extent. The European market is also anticipated to witness a sound growth during the forecasted period.
Competitive Landscape
Due to the growing competition and increasing popularity of baby care products more partnerships and agreements, mergers & acquisitions, joint ventures etc are likely to happen in the upcoming years. Through these kinds of deals, the companies aim to enhance their global presence.
Industry News
2017 Abbott Nutritio, a US-based medical devices and health care company, acquired Alere in order to strengthen its presence in the diagnostics market.
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