Originally published on Technavio:Baby Carrier Market Analysis Across North America, Europe, APAC, South America, Middle East, and Africa - US, China, France, UK, Germany - Size and Forecast 2023-2027
Baby Carrier Market Forecast 2023-2027
The baby carrier market size is projected to increase by USD 263.71 million, with a CAGR of 5.16% from 2022 to 2027. Market expansion hinges on several factors, including innovation and portfolio extension leading to product premiumization, the growing demand for multi-functional baby carriers, and the evolving lifestyles coupled with the rise in single-parent and nuclear families.
Baby Carrier Market Size
Our researchers conducted data analysis with 2022 as the base year, examining key drivers, trends, and challenges. A comprehensive analysis of drivers will assist companies in refining their marketing strategies to gain a competitive edge.
Key Market Driver
One of the primary factors propelling market growth is the evolving lifestyles coupled with the rise in single-parent and nuclear families. Consumers are increasingly concerned about safely transporting their children from one place to another. Consequently, there is a growing preference for baby carriers among parents as it allows for comfortable and convenient baby transportation while traveling.
Furthermore, several market players are focusing on meeting the specific product requirements of single parents and nuclear families. Baby carriers offer hassle-free baby transportation and ease of unfolding, making them highly popular among single parents and nuclear families. Hence, these factors positively impact the market and are expected to drive market growth during the forecast period.
Major Market Trend
A significant factor influencing market growth is the adoption of distribution channel expansion strategies by market players. Several market players worldwide are adopting various competitive strategies to broaden their customer base. Distribution channel expansion is among the primary strategies adopted by these players. Omni-channel retail strategies are also being implemented to boost product sales.
Moreover, market players are increasingly exploring new opportunities for distributing and promoting their baby safety and convenience products through physical retailers and online shopping portals. Popular market players offering baby carriers include Amazon.com, Rakuten Commerce, and Alibaba Group. Therefore, these factors positively influence the market and are expected to drive growth during the forecast period.
Significant Market Challenge
One of the key challenges hampering market growth is the limited lifecycle of baby carriers. It is essential for baby safety products like carriers to be regularly replaced as per the child's growing age, weight, and size. Additionally, while several prominent brands offer baby carriers, they tend to be expensive. Consequently, these products are not cost-effective for parents who need to continually replace them as their baby grows.
These factors, coupled with concerns about safety if carriers are not suitable for the baby's weight, limit the sales of these products. Hence, these factors negatively impact the market and are expected to hinder market growth during the forecast period.
Market Customer Landscape
The market research report encompasses the market adoption lifecycle, ranging from the innovator's stage to the laggard's stage, focusing on adoption rates in different regions based on penetration. Furthermore, the report includes key purchase criteria and drivers of price sensitivity to assist companies in evaluating and developing their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, including strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to strengthen their market presence.
Qualitative and quantitative analyses of vendors have been conducted to help clients understand the broader business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified. Quantitative analysis categorizes vendors as dominant, leading, strong, tentative, and weak.
Baby Carrier Market Size
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The online segment was the largest segment, valued at USD 575.32 million in 2017. Prominent online market players offering baby carrier products include Amazon.com and Alibaba Group. Additionally, the growing shift of consumers to online platforms will create growth opportunities for existing vendors in this category. Moreover, adopting an omnichannel strategy will enable these players to boost revenue through online web portals. Hence, these factors are expected to fuel the growth of this segment, thereby driving market growth during the forecast period.
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North America is estimated to contribute 34% to the global market's growth during the forecast period. The US leads the baby care products market in the region. Government regulations mandating the use of baby care products and ensuring baby safety are primary factors driving market growth. Parents' increasing expenditure on baby care-related products, such as carriers, car seats, strollers, prams, and cribs, further fuels market growth. Additionally, factors like changing parent lifestyles, rising dual-income households, rapid urbanization, and a preference for online shopping drive market growth in Europe during the forecast period.
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Technavio Research
Jesse Maida
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