The global Diaper Bags Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global diaper bags market size is anticipated to register revenue of USD 797.7 Million by the year 2025, according to a new report by Million Insights. It is expected to grow with 2.9% CAGR over the forecast period, 2019 to 2025. This growth can be attributed to the rising demand for storage which can hold number of utilities for babies and provide hassle free travel along with the infants.
Key Players:
- Carter’s, Inc.
- Disney
- Graco
- Sanrio Co., Ltd.
- J Cole Collections
- Trend Lab
- Sunveno
- OiOi
- Arctic Zone & California Innovations Inc.
- Petunia Pickle Bottom
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Growth Drivers:
The increasing number of traveling activities among the family is also expected to propel the market growth. As per the trend for traveling, millennials along with their infants travel across the globe more than once in a year for vacation or international trips. Also, the rise in activities like camping, trekking and other recreational activities being carried outdoors across the developed countries like the U.S. is expected to fuel the demand for such products in the upcoming years.
Also, the rising influence of e-commerce industry is expected to have a positive impact on market growth and create opportunities for a number of manufacturers to sell their products across the globe. The key players selling premium products have started using online portals for sale across the developing regions and the emerging untouched markets.
Type Outlook:
- Backpack
- Tote
- Messenger
Application Outlook:
- Travel
- Daily Use
Distribution Channel Outlook:
- Online
- Retail Outlets
The channel of distribution through the online mode is expected to grow at a CAGR of 3.1% during the forecasted years. This growth can be attributed to the rising influence of the e-commerce sector coupled with the ease of shopping, doorstep delivery, and hassle-free return policy. Thus, the majority of the companies are targeting the sale of their products through online mode. A number of specialty stores also sell their products through online mode. In 2018, The World Health Organization stated that online sales to retail outlets were 8.8% as compared to 7.4%, in2016.
Regional Outlook:
In 2018, North America was the largest regional market holding a share of 28.8%. The factors contributing to the growth of such products across this region are the rise in the travel rate among the population along with the infants and an increasing number of working women populations. The Bureau of Labor Statistics of the U.S. stated that around 65% of the working women had children below 6 years of age. Owing to this, the need for carrying all the baby products while traveling is anticipated to boost the market demand in the upcoming years.
Asia Pacific is anticipated to witness the highest CAGR of 3.7% during the forecasted years. This growth can be attributed to the increase in the birth rates and the rising number of working women across developing countries like China and India. Also, the increase in per capita income coupled with the rising standard of living among the working population is expected to fuel the market growth. Moreover, the end of the Policy on One Child in China is anticipated to boost the demand for such products in the upcoming years.
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