PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1171564
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1171564
The global baby safety and convenience market was evaluated at US$10,977.290 million for 2020, growing at a CAGR of 4.43% reaching a market size of US$14,864.135 million by 2027.
Rapid urbanization and improving living conditions in the developing world are all contributing to the expanding worldwide baby safety and convenience market, where parents prefer to acquire quality baby care goods for their newborns. This results in individuals throughout the world spending more money during the projected period to ensure the safety of their newborns. The worldwide infant safety and convenience market have been divided into five regions: North America, South America, the Middle East, Africa, Europe, and Asia-Pacific. Because of the high birth rate, expanding consumer awareness of infant safety, and rising family wealth, the Asia Pacific region is expected to occupy a significant part of the market. Furthermore, the availability of baby items online, as well as the increased internet penetration, contribute to the growth of the worldwide Baby Product Market. The rising usage of e-banking systems and the expanding number of smartphone owners are likely to enhance online sales of baby items. Consumers prefer the ease of online shopping over visiting physical shops because of their hectic lifestyles, which not only offer immediate doorstep delivery but also a variety of discounts and deals.
Rising infant protection requirements and knowledge, rising consumer spending power, and a notable preference for nuclear families are the major drivers driving the market growth.
The industry is being driven by an increasing number of government efforts to combat the rising number of infant deaths. Furthermore, the rising prevalence of online shopping platforms is favorably boosting consumer sales of baby monitors. Due to a rise in the frequency of child deaths, the government is implementing preventative measures such as new legislation and safety requirements. In Europe, for example, the United Nations Economic Commission of Europe (UNECE) Regulations No. 44 and No. 129 have established requirements for child restraint systems, and every infant car seat must comply with these norms. Most infant safety goods, such as mattresses, cribs, and strollers, have criteria imposed by the European Union.
The availability of a wide range of goods to satisfy specific requirements relating to baby weight and age, as well as the increasing popularity of the online channel, is driving market expansion.
Because of the benefits of giving a thorough definition of the goods, the internet channel has offered sellers an alternative to the conventional brick-and-mortar store. Baby Jogger, for example, debuted their new City Tour 2 Double Stroller for twin twins in May 2019. The Halo DreamNest is a three-in-one sleep solution that functions as a bassinet, travel cot, and travel crib. Furthermore, the growth can be attributed to the ease of shopping, saving time & money, and better customer service. Online, consumers can choose from a variety of options and don't have to make any extra effort. The online consumer gets a lot of discounts, products at lower prices, and an easy refund and exchange policy if customers don't like the product. Online retailers provide several secure payment options, such as internet banking, Cash on Delivery (COD), Cash on Order, e-wallets, and credit & debit cards.
Market Key Developments
Product Offerings
Segmentation
Prams and Strollers
Car Seat
Online
Offline
North America
South America
Europe
Middle East and Africa
Asia Pacific