Baby Safety Products Market: Current Analysis and Forecast (2022-2028)
The baby safety products market is expected to register a CAGR of approx. 4% over the period of 2022-2028. Providing a safe environment is an important part of taking care of your new baby. Newborns need to be safe at home and away from home. Infants under six months of age should be kept in a rear-facing child restraint when traveling in a car. The law requires that children under the age of seven, ride in an approved child restraint or booster seat. Also, provide a safe sleeping environment for your baby - this includes taking precautions to reduce the risk of sudden unexpected death in infancy (SUDI), including sudden infant death syndrome (SIDS) and fatal sleep accidents. The growing adoption of baby safety products can be attributed to the rising awareness among parents towards new-age safety products. According to the Our World In Data, 139.98 million were born in 2020. The rising fertility rate coupled with growing awareness about infant protection, increasing penetration of online platforms, increasing consumer purchasing power, and availability of customized baby safety products are some other factors responsible for market growth.
A rise in the e-commerce sector owing to the rising internet penetration is one of the key factors for the growth in the demand for baby safety products. As per the WORLD BANK, in 2019 the internet usage by the population was 89% which rise up to 91% in 2020. Moreover, the emerging working parents across countries are also a leading reason for the growing market for baby safety products. The presence of a well-established healthcare infrastructure and higher adoption of baby safety products in the country. Moreover, the presence of a vast majority of the global industry players is focusing on launching new products with advanced technology in the market to expand their product portfolio which in turn is leading to an increase in inorganic growth strategies among key industry players. For example, In March 2022, Britax Child Safety, Inc., a leading child passenger safety technology company in the United States, announced the addition of four new fashions to the Marathon ClickTight adjustable car seat. The sleek and stylish fabric designs are flame-retardant-free, machine washable, and dryable, allowing parents to get back on the road without any delay.
Britax Child Safety, Inc., Chicco, Dorel Industries Inc, Our New Baby Inc., Baby Jogger, LLC, Baby Trend, Combi USA, Inc., Cosatto Store, Graco Children’s Products Inc., and Crate and Barrel., are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
"Amongst Product, the car seats category accounted for the majority share in the market in 2020”
Based on product type, the baby safety products market is segmented into car seats, strollers, monitors, and others. The car seat segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe due to the increase in traffic accidents the demand for car seats is increasing. In addition, some new features of car seats, such as an anti-repulsion bar that stabilize the seat in the event of a collision, and a foam layer with energy absorption characteristics are further attracting consumers to purchase the product. However, the monitors’ segment is also expected to grow considerably during the projected timeframe owing to the growing population of working parents.
"Among distribution channel, the offline is expected to witness highest CAGR during the forecast period”
Based on distribution channels, the market is fragmented into online and offline. In 2020, the offline segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. Key players in the baby safety products market are generating maximum revenue from offline sales. The significant growth was mainly driven by customer benefits such as pre-purchase product scanning, a large number of options available to choose from, free demonstrations, and advice from sales management to choose the best product. Offline channels include convenience stores, hypermarkets and supermarkets, and convenience stores.
"Among price point, the mass is expected to witness highest CAGR during the forecast period”
Based on price point, the market is bifurcated into mass, economy, and premium. The mass segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe with an increase in nuclear families, the parent buy product which is affordable and budget-friendly directly boosting the segment of the market. In addition, the infant death ratio is increasing demand for safety products for babies which are likely to aid the growth of the segment. However, the premium segment is also expected to grow considerably during the projected timeframe owing to the growing population of working parents and growing GDP per capita.
"North America to witness significant growth during the forecast period”
For a better understanding of the market dynamics of the baby safety products market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the baby safety products market industry and generated revenue owing to the presence of well-established market players and product launches by these players to gain competitive advantage. In March 2022, Britax Child Safety, Inc., a leading child passenger safety technology company in the United States, announced the addition of four new fashions to the Marathon ClickTight adjustable car seat. The sleek and stylish fabric designs are flame-retardant-free, machine washable, and dryable, allowing parents to get back on the road without any delay.
Reasons to buy this report:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook