Indian Market for Baby Products Set to Witness Boom
Published By : 24 Mar 2014 | Published By : QYRESEARCH
India’s baby products market has been witnessing a compounded annual growth rate of 17% since 2010. Now, this figure is expected to scale higher with market analysts expecting the baby products market in India to grow at a higher CAGR in the years to come. Much of this growth will likely come from the entry of foreign brands that are set to introduce innovative products in the Indian market.
These global players and their brands include the likes of Bubba Blue (Australia), Tiny Love (Israel), US Baby (China), Combi (Japan), Brevi (Italy), Kiddy Gmbh (Germany), Farlin (Taiwan), and Tolly Joy (Singapore) among many others.
Many of these top brands are expected to make a foray into the Indian market through a baby products industry event that is slated to be held in India this week.
According to the Indian Managing Director of UBM, Joji George, there are currently very few organized market players in the Indian baby products market. This also makes the market a highly fragmented one. However, the child-baby care products market is also regarded as a segment that offers immense potential, and this is what makes it so attractive to foreign players. The many brands that are making a debut in the Indian market are doing so because of the huge potential offered by this market, he said.
UBM India is a firm that is best known for holding exhibitions and industry events that endeavor to bring together the various stakeholders in a market. These stakeholders comprise retailers, distributors, as well as manufacturers. The second edition of CBME will be organized in India beginning April 3.
India’s population of babies between the age of 0-2 years stands at 50 million, and that of children in the 0-12 years age bracket is 304.8 million. This indicates the immense potential that lies in the market.
The various products in the baby-child care products market include apparel, accessories, toys, footwear, as well as cosmetics. By the end of 2017, experts estimate that this industry will be valued at USD 26.2 billion.
Interestingly, growth figures in this market continued to show an increase in spite of the economic crisis globally. In 2012, this segment recorded sales to the tune of USD 11.8 billion in India.