Rising demand for baby personal care products market is here to stay despite the global economic challenges posed by the COVID-19 pandemic, suggests study conducted by Future Markets Insights (FMI). Recent launches in premium products category and personalization based on demography are expected to be the key drivers for the market along with the growing concern towards skin care routine of the babies. According to a recent report published by FMI, the global baby personal care products market is anticipated to grow at a CAGR of 6.5% during the forecasted period of 2022 to 2032 and reach market value of 89 billion (US) dollars by the end of year 2032.
Market for baby personal care products always had a conventional customer base for personal hygiene products like diapers. However, a spike in the demand for premium products like wipes and training pants is witnessed, especially in the developing countries. This new trend has opened up a wide range of market penetration opportunities and potential for innovations in the segment for the manufacturers.
Although skin care products enjoy the number one position in the baby personal care products market, other categories like oral hygiene and hair care products are gaining popularity.
In addition to this, increase in market potential and opportunities due to these trends is getting a huge push by the growing demand for organic and natural products. Thus giving a whole new area for manufacturers to explore and find niche.
FMI’s report provides a comprehensive overview of the market, covering important market dynamics.
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Key takeaways from the report:
- Market players are focusing on bringing innovative products, keeping in mind the demands of the consumer
- Focus on products with ingredients that are natural and non-toxic is going to be the future of the baby personal care products industry
- Online sales channels are seeing an upper hand over conventional stores, owing to the restrictions put forth by the pandemic
- Skincare is gaining prominence, while personal hygiene products account for a sizeable share
- Europe is going to be the largest market for premium products throughout the forecasted period
- Developing countries are emerging as the potential market for baby personal care products
“Steered by changing consumer preferences, leading brands are gradually shifting towards organic ingredients. With consumers more willing to spend on premium products, focus towards innovation in skincare is expected to surge,” said a lead analyst at FMI.
Steady Growth Expected Despite COVID-19
As the world came to a standstill with lockdowns imposed by the governments across the world, the impact on the market of baby personal care products was significant. Retail channels being one of the worst hit due to shortage of labor and transport restrictions, major reliance on E- commerce was the only way to move ahead.
The lockdown has forced industries and online service providing platforms to join hands in order to cater to the customers. In a way, e – commerce has come to the rescue by redefining commercial activities globally.
Meanwhile the segment of population that was not open to online shopping has also shown its willingness to adapt during these turbulent times.
The lack of transport facilities in the beginning of the lockdown have left a dent in the baby personal care products market. However, experts believe that market is going to recover soon with restrictions being lifted by governments in phases across the world.
“As the industry recovers from the effects of pandemic on its business, focus on premium products and bringing in new range of organic and 100 % natural products will shape the market in a positive way in the near future” quotes a lead analyst at FMI.
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Who is winning?
Some of the market players featured in the baby personal care products report are Me n Moms Pvt. Ltd., Klee Naturals, Tubby Todd Bath Co., Hindustan Unilever Limited, Johnson & Johnson, L’Oreal, Kimberly Clark, Colgate-Palmolive, Beiersdorf AG, Shiseido, Ontex Group, Biotique, Himalaya Global Holdings Ltd., Weleda Inc., The Clorox Company (Burt’s Bees), Babylist Inc. (Earth Mama Organics), among others.
Product launches will remain a key strategy adopted by market players to gain competitive advantage. The baby personal care products industry holds immense potential globally. Companies are introducing products which satisfy the kids as well as the adults. The reason being, products that are healthy and safe top the list for adults and products that are fun and attractive appeal to the kids.
For instance, Tree –Free baby wipes by Caboo are made from bamboo spun lace and are rich in vitamin E, chamomile flower and aloe Vera leaf. While this gives the baby a soothing touch, it also gives the adults satisfaction to adults of doing their tiny bit for the planet.
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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