Demographic factors play a crucial role in the development of baby care products market worldwide. Some of the key factors impacting healthy growth of baby care market include parents’ preference and awareness about baby care products, growing consumer spending on baby care products, and more women entering the workforce, which is driving the demand for alternatives of traditional baby care methods.
Albany, NY -- (SBWIRE) -- 09/20/2016 -- This report analyzes factors that will fuel the growth of the global baby care products market, as well as those that will dampen progress. Although the global population has shown an upward growth trajectory over the last few years-thus causing a spike in the demand for baby products-the demand patterns have remained anything but constant. The ever evolving nature of the global baby care products market makes it imperative for companies to carefully assess and evaluate their next step in the market.
The report segments and studies the market based on two broad criteria: Baby cosmetics and toiletries and baby convenience and safety products. These are segmented further to delve deeper into the market. For analyzing top product segments in the global baby care products market, the report begins with an overview of the global market. TMR analysts then provide market size estimates for each segment as well as forecasts for the same for years ranging from 2007 to 2017.
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Regional markets studied in the baby care products market are: North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and Latin America.
Overview of Baby Care Products Market
When segmented on the basis of cosmetics and toiletries, the global baby care products market is composed of skin care products, hair care products, toiletries, bath products, and sun care products. Baby toiletries and cosmetics accounted for the lion's share of the global baby care products market. The findings of TMR's study show that in 2011, the baby toiletries and cosmetics segment raked in 92.2% of all market revenue, amounting to a valuation of US$41.3 bn. The growth prospects of the cosmetics and toiletries segment look promising, as it is projected to log a CAGR of 7.1% through the report's forecast period. At this growth rate, the baby toiletries and cosmetics segment will stand at US$62.3 bn by 2017.
From the regional perspective, Asia Pacific and EMEA are the most attractive markets for baby care products. In 2011, these regions held an estimated 34.5% and 28.7%, respectively, of the global baby care products market. However, it is the Latin America region that will outpace all other regions in terms of growth rate. TMR analysts forecast that the Latin America baby care products market will post an 8.9% CAGR through the forecast period of the report.
All the same, companies in the global baby care products market will have to surmount adverse conditions if they are to maintain a sustained presence. The three main challenges to growth, as identified by TMR analysts, are: Cultural perceptions that work against the use of baby care products, challenges relating to efficient marketing and distribution of baby care products, and the lack of a regulatory framework for the standardization of skin care products formulated especially for babies.
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The report takes into account the current market shares and financial standing of leading companies in the baby care products market. The three major players that fiercely compete in the global baby care products market are: Johnson & Johnson, Procter and Gamble Company, and Kimberly-Clark Corporation.
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