Global Baby Product Industry
The global baby care product industry caters to around 4 million babies on a yearly basis, generating retail revenue of nearly $7 billion, according to Packaged Facts. The market encompasses different segments, which can be divided into: toys, feeding accessories, wipes, disposable diapers, body care products and soothers.
Demand has grown due to a rising number of babies to be catered to, partly because people are starting families later. Product innovation and development has allowed retailers and manufactures to widen the market, using new technologies and advanced marketing approaches. Research from firm Key Note points to the contribution of changing lifestyle trends to the market, including mothers returning to work earlier giving rise to greater demand for breastfeeding equipment such as sterilizers and pumps.
The market segment comprised of baby safety equipment has benefited from recent changes in social attitudes towards childrearing and government legislation regarding child safety in childminders’ homes. Baby monitors locks, and stair gates are recording particularly strong sales.