PORTLAND, Ore., Feb. 1, 2021
Multiple benefits offered in terms of convenience and ease in use along with cost-effectiveness that presents an alternative for prams and strollers drive the growth of the global baby carriers market
PORTLAND, Ore., Feb. 1, 2021 /PRNewswire/ -- Allied Market Research published a report, titled,"Baby Carriers Market by Product Type (Wrap, Sling, Backpack Carriers and Buckle Carrier), Price Point (Mass and Premium), and Sales Channel (Hypermarket/Supermarket, Specialty Stores, Online Sales Channels and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027." According to the report, the global baby carriers industry generated $987.2 million in 2019, and is projected to generate $1.12 billion by 2027, witnessing a CAGR of 4.5% from 2021 to 2027.
Drivers, restraints, and opportunities
Multiple benefits offered in terms of convenience and ease in use along with cost-effectiveness that presents an alternative for prams and strollers drive the growth of the global baby carriers market. However, concerns regarding carrying babies for a longer duration and availability of low quality &counterfeit products hinder the market growth. On the other hand, product innovations and aggressive social media marketing strategies present new opportunities in the coming years.
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The buckle carrier segment to offer lucrative opportunities
Based on product type, the buckle carrier segment contributed to the highest market share, accounting for more than three-fifths of the global baby carriers market in 2019, and will continue its leadership statusthroughout the forecast period. In addition, this segment is projected to register the highest CAGR of 5.1% from 2021 to 2027. This is due toeven distribution of baby's weight across caregiver's body, adjustable seat width, and innovative designs. The report also analyzes segments including wrap, sling, and backpack carriers.
The hypermarket/supermarket segment to maintain its lead position during the forecast period
Based on sales channel, the hypermarket/supermarket segment held the highest share in terms of revenue in 2019, contributing to more than half of the global baby carriers market, and is expected to maintain its lead position during the forecast period. This is attributed to massive collection, discount offers, and wide selection range available for customers. However, the online channels segment is projected to witness the fastest CAGR of 7.1% from 2021 to 2027. This is due toeasy accessibility, convenience, heavy discounts, and elimination of need for storage space.
North America to maintain its dominance by 2027
Based on region, North Americaheld the highest market share in terms of revenue in 2019, accounting for nearly two-fifths of the global baby carriers market, and will maintain its dominance by 2027. This is attributed towidespread product adoption with rise in consumer awareness and increased demand for premium baby carrier products. However, Asia-Pacificis projected to manifest the highest CAGR of 6.6% during the forecast period, owing tolarge scale urbanization, rapid expansion of retail penetration, and rise in working women.
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