Baby Diapers Market to Cross US$ 65 Bn Mark by 2023
According to a new market research report published by Credence Research “Baby Diapers (Product – Cloth Diapers, Disposable Diapers, Training Nappies, Swim Pants) Market - Growth, Share, Opportunities, Competitive Analysis and Forecast 2016 - 2023”, the global baby diapers market was valued at US$ 40.9 Bn in 2015 and is estimated to expand with a CAGR of 6.0% from 2016 to 2023.
Browse the full report at http://www.credenceresearch.com/report/baby-diapers-market
Market Insights:
The era of using traditional cloth diapers is rapidly exiting, especially in India and China, thereby driving the overall baby diapers market growth. Increasing literacy, health awareness and rise in discretionary income are the prime factors responsible for the baby diapers market growth, especially in the developing economies.
People are now more inclined towards providing better and gentler care/products to their babies. This has led to significant rise in competition towards offering better products at competitive prices. Another major factor fueling the market growth and competition is development of diaper products using better material providing better protection.
The most significant factor bolstering the market growth is the rising birth rate worldwide. Although the overall birth rate per year is has decreased significantly since the past few years, the rate is estimated to remain steady in the coming years. India and China are the most promising markets for baby diapers mainly due to their strong birth rate (as compared to other regions) and rising awareness towards baby care products.
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Another major factor fueling the market growth is the rising discretionary income of people, globally. People, mainly in the developing economies, now have more interest towards buying branded baby products so as to ensure optimum quality of the products. Nevertheless, continued exposure to disposable baby diapers results in skin rashes and hence may have other impacts on baby health. This is one of the most serious concerns for baby diapers market.
Competitive Insights:
The global baby diapers market is consolidated in nature with a few major international players contributing to more than fifty percent of the total market revenue. The market players primarily compete on the basis of their products (material and comfort), price and brand-name. The prime source of product marketing is through television advertisements. Thus, major players across the worldwide invest special efforts towards marketing their products so as to ensure strong influence on their consumers.
Another major area of focus for the baby diaper manufacturers is attractive packaging of the products. Attractive packaging plays crucial role in case of baby products as it largely helps driving the consumers. This makes attractive packaging is one of the most important strategies adopted by the baby diaper manufacturers. Further, due to rising penetration of online retail, majorly in Asia Pacific, companies are now increasingly promoting their products online so as to capture the consumer base.
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Key Trends:
Baby diapers using advanced superabsorbent material
Focus on India and China by launching price competitive products
Online product promotion
Brand-name promotion
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