LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global baby hair care products market predicts a CAGR of around 6% during the period 2017-2021.
The report segments the global baby hair care products market by distribution channel (offline and online), by product (baby shampoo and conditioner, and baby hair oil and detangler), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global baby hair care products market, according to Technavio consumer and retail researchers:
- Increase in number of young moms: a major market driver
- The baby shampoo and conditioner product segment accumulated the maximum market share in 2016
- In 2016, the global baby hair care products market was led by APAC, accounting for a market share of more than 38%
- Artsana, Beiersdorf, Johnson & Johnson, and Pigeon are the leading players
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Market growth analysis
Increase in number of young moms is one of the major factors driving the global baby hair care products market. An increase in the number of young mothers and working women across the world has increased the demand for convenient baby care products. In 2016, more than 40% of the total labor force and more than 51% of the total female population in the world were part of the workforce.
The rise in the number of working women across the world has also led to an increase in the number of dual-income households. This, in turn, has led to a rise in the average income per household, which will spur the growth of the child care products market. This has further led to an increase in the adoption and usage of expensive childcare products such as natural and organic shampoos and conditioners.
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Geographical analysis
Technavio researchers anticipate high growth for the global baby hair care products market in APAC due to the increase in disposable income of consumers. Japan, China, and India are the major markets in this region. An increase in demand for baby care products is anticipated due to the rise in urbanization, growing awareness about health and hygiene, growth in per capita income, and rising standards of living. In addition, the high birth rate in the region has resulted in an increased demand for baby personal care products.
According to Shikha Kaushik, a lead analyst at Technavio for research on toys and baby products, “Strong sales are witnessed mainly in urban areas which exhibit more public awareness toward baby health and hygiene. The recent years have seen a spike in concerns regarding children’s healthcare, due to which parents are increasingly opting for various baby hair care products. In addition, the rise in demand for natural and organic hair care products has also enhanced the sales of such products.”
Competitive vendor landscape
The global baby hair care products market is characterized by the presence of well-diversified international and regional vendors. However, as international players are increasing their footprint, regional vendors are finding it difficult to compete with them in terms of quality, technology, and price. Companies with better technical and financial resources can develop products that would make competitors' products obsolete and non-competitive even before they are launched, or R&D and commercialization costs are recovered. Therefore, to remain competitive in the market, vendors not only have to develop new technologies but must keep abreast of emerging technologies that could have an impact on their product lines.
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