The global Baby Bottle Market size is expected to reach USD 5.42 billion by 2030, expanding at a CAGR of 5.7% during the forecast period, according to a new report by Grand View Research, Inc. The increasing consumer expenditure on baby bottles, is because of long working hours and the busy schedules of parents in urban households that are resulting in a growing inclination toward infant formula over breastfeeding, thereby driving the adoption of baby bottles. The convenience these products offer, in addition to improved product features and quality, is encouraging consumers to opt for baby bottles.
Further, looking to capitalize on the growing demand
for baby bottles, many players operating in the market are concentrating on
expanding their businesses by offering advanced and BPA-free products. For
instance, companies such as Nestlé and Abbott are also collaborating with
leading milk formula producers to catalyze the sales of baby bottles.
Manufacturers are also focusing on developing advanced baby bottles with
improved features such as flow controllable nipple and temperature indicator
devices and better raw materials like glass and silicone to gain a competitive
edge.
In addition, the growing participation of women in the
workforce in developing regions such as South Asia and the Middle East, and
North Africa has been widening the growth opportunity for feeding bottles.
According to the World Economic Forum, women in Southeast Asia are often
relegated to informal work and are not provided employment benefits and legal
protection. For instance, in Vietnam, only 31% of working women are employed
formally, whereas 69% are engaged in informal work. In informal workplaces, the
facilities for breastfeeding are far less developed compared to formal
workplaces. The scenario implies that there remains a high window of growth
opportunity for feeding bottles in these nations.
Increased customer confidence in online payments, 24/7
customer assistance, simple refunding rules, and lower costs are some of the
important aspects that encourage online sales of baby products. Credit cards,
e-wallets, COD (cash-on-delivery), Internet banking, and cash-on-order are
among the payment alternatives offered by online shops. Companies are also
attempting to increase their market share by providing safe payment channels
and increasing client trust. In addition, although retail had a difficult year
in 2020 overall, according to eMarketer, several national markets enjoyed
double-digit e-commerce growth in 2021. For example, in 2021,
e-commerce sales in Russia, the United Kingdom, and the Philippines increased
by more than 20%.
Severe recessions and public health emergencies have
historically been associated with reduced birth rates, according to a Brookings
Institution report released in 2021. As a result, the COVID-19 pandemic, which
included both of these traits, had the potential to result in a massive baby
bust. The highest birth declines were in Hungary, Italy, Spain, and Portugal,
according to studies published in the Proceedings of the National Academy of
Sciences USA in August 2021, with drops of 8.5%, 9.1%, 8.4%, and 6.6%,
respectively.
Related Press Release@ Baby Bottle Market Report
Baby Bottle Market Report
Highlights
- The Asia Pacific is expected to grow at a significantly fast CAGR
during the forecast period from 2022 to 2030. Over the past few years, the
consumption of infant formula has increased remarkably especially in the
Asia Pacific. China is the largest market for infant formula. This, in
turn, has increased the adoption of baby bottles in the country
- The plastic segment is projected to register a CAGR of 5.5% from
2022 to 2030. PP-based bottles are the most common type of plastic feeding
bottles owing to their durability and flexibility. Moreover, companies are
developing sustainable and less harmful plastic baby bottles, for
instance, Artsana USA, Inc.'s ChiccoDUO baby bottle, which was launched in
April 2021, is made with an advanced patented technology used in medical
and pharmaceutical products
- Due to the rising familiarity and dependence of Gen X, millennials,
and Gen Z with the internet and e-commerce, the online distribution
channel is predicted to contribute 19.7% of market revenue by 2030.
Several value-added services supplied by e-retailers, such as discounted
prices, cash-on-delivery, and paybacks, are predicted to encourage the
expansion of online channels during the forecast period
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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