LONDON--(BUSINESS WIRE)--Technavio’s latest report on breastfeeding supplies market in the US analyses the key trends expected to impact the breastfeeding supplies market through 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The breastfeeding supplies market in the US is likely to exceed USD 2 billion by 2020, growing at a CAGR of almost 6%. The breastfeeding supplies market is likely to grow as a result of high awareness of mother and baby care products among consumers in the US and market penetration by vendors providing breastfeeding supplies.
According to Brijesh Kumar Choubey, lead analyst at Technavio for general retail goods and services, “The easy availability of different and convenient breastfeeding supplies in the US is another factor that will significantly aid market growth over the next five years. A few examples of such convenient breastfeeding products include electric and battery-powered breastfeeding pumps, which are portable and can therefore be used while traveling.”
The top three emerging trends in the breastfeeding supplies market according to Technavio’s consumer and retail research analysts are:
Increasing number of reimbursement policies
The breastfeeding supplies market in the US has recently seen the introduction of insured breast pumps approved by the Affordable Care Act (ACA). According to this act, health insurance carriers will be required to provide breastfeeding pumps to pregnant and nursing mothers. Thus, insurance companies in the country have to cover the cost of these breastfeeding pumps, along with lactation counseling and other precautionary health services.
As a result of this act, most of the leading vendors are focusing on the production of insured breastfeeding pumps. For instance, Medela incorporated a third shift of its workforce in 2013 to escalate the production of breastfeeding pumps due to the sudden increase in demand after the announcement of the approved law by the Affordable Care Act.
“This trend is likely to positively propel the market over the next five years, as an increased number of consumers would now prefer insured breastfeeding pumps and the act would also cover that section of the population who couldn’t afford to purchase these expensive breastfeeding pumps,” says Brijesh.
Innovations in product enablers
Busy lifestyles and the need for convenient and easy-to-use products are encouraging baby product and maternity care manufacturers to introduce products that suit the changing needs of babies and their parents.
Innovations in product enablers in the genre of breastfeeding pumps and associated products have become varied and widespread. To make the process of expressing breast milk easier and more convenient, manufacturers have come up with nursing bras or breast pumping bras, which enable lactating mothers to express milk without the need to constantly hold the breastfeeding pump in place. Lansinoh's hands-free pumping bra is one example of a reliable and popular breast pumping bra available in the market.
These product enablers are becoming very popular, and will further propel the growth of the breastfeeding supplies market in the US, during the forecast period.
Growth of online retail
Brick-and-mortar retailing remains the key channel for the sale of breastfeeding supplies in the US, but online retailing is predicted to grow rapidly during the forecast period. Quick delivery services and competitive prices are major factors for the growth of online retailing in the country.
Major players like Philips and Medela have ventured into online private retailing, which has helped them increase their sales significantly. The growing customer base for online retailing, combined with faster shipping, is expected to impact the market positively during the forecast period.
The top five vendors for the breastfeeding supplies market in the US, as researched by Technavio analysts are:
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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