Global Pregnancy Products Market - Segmented by Products and Distribution Channel - Growth, Trends and Forecasts (2018 - 2023)
The global pregnancy products market is expected to register a CAGR of 6.5% during the forecast period, 2018 to 2023. North America dominates the market due to growing awareness regarding pregnancy products and rising demand for home-based pregnancy test kits.
Rise in Birth Rate Reflecting High Number of Pregnancies
Pregnancy products are those that are meant for physical changes in pregnant women during and after pregnancy. The market for pregnancy products is anticipated to experience tremendous growth during the forecast period, owing to rise in the birth rate in developed, as well as developing countries. According to a 2014 article published in the Independent Online, a UK new portal, birthrate among British women has seen a leap of 18% since the past decade. The increase in pregnancy rate is likely to create a high demand for pregnancy products which will drive the market during the forecast period. The rising disposable incomes, increase in birth rate, especially in developing countries, and growing awareness regarding pregnancy care products among women, coupled with increase in literacy rate of women and well-developed distribution channel for pregnancy products are the major factors driving the growth of the pregnancy product market.
Side Effects Associated with Pregnancy Products
The topical pregnancy products, such as lotions and creams, contain chemicals, which may lead to harmful side effects to the pregnant women. The products may also lead to birth defects in newborn babies as they contain retinol as an ingredient. Thus, the safety issues related to pregnancy products and lack of awareness about pregnancy products in the low-income group people in developing countries are the impeding factors for the growth of the global pregnancy products market.
North America to Dominate the Market
The pregnancy products market is segmented by product, distribution channel, and geography. By geography, it is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
North America dominates the pregnancy products market due to the growing awareness regarding pregnancy product, and growing expenditure on personal care products. Asia-Pacific is anticipated to grow tremendously during the forecast period, owing to factors, such as rise in disposable incomes in developing economies, such as China and India, well-established distribution channel, and growing awareness regarding pregnancy products through strong marketing activities by key players.
Key Developments in the Market