You would be amazed to know that Baby care products contribute towards a million-dollar online market.
“Baby care products market is valued at $58.43 billion in 2015 and is projected to reach $102.31 million by 2022 growing at a CAGR of 8.3% from 2015 to 2022.” – As per the global market report from Statistics MRC.
In this million-dollar baby care products market, India plays the most significant role. India is the 2nd most populous country in the world after China. However, India comes first, while comparing its children population with China. India contains 20% of child (in-between 0 to 4 years) population of the globe. It is projected that there are around 27 million live births in India, which means the country solely contributes 20% towards total live births in the entire world. And, no one can expect that these numbers would go down easily for a long upcoming time. It is apparent that India is emerging as a major player in the world’s baby care product market.
On the other hand, the rising literacy, changing lifestyle of parents, growing disposable incomes, the rising numbers of nuclear families, better informed parents, growth in women entrepreneurs, rising awareness of baby products, the rapidly growing rate of online baby care product stores – are other major factors strongly contributing towards the the growth of baby care products in India.
Baby care products like the baby blanket, pillow, crib bedding sets, etc., are available online on multiple baby stores. The parents need to choose these products with utmost care, as they may be crafted from pure quality fabric or other material which may harm baby’s delicate skin. With a rising parent literacy and awareness of toxic baby product material, the parents are now becoming more conscious of their baby’s health & development and ready to spend more on high-quality baby care products.
It is projected that Indian Baby care product market will continue to expand its horizon with a growth rate of 13.66% CAGR (Compound Annual Growth Rate) over the upcoming years. India’s major E-retailers like Amazon, Flipkart, Firstcry, Babyoye, Babyoodles and Snapdeal are leading in this baby care product market in India by offering quality baby products. The Indian market, therefore, offers a great chance to the players in this online baby space. It’s a good opportunity to be in the baby product industry!