Published On : Sep 07, 2018
The global diaper bag market was valued at US$ 600 Mn in 2017 and is expected to reach US$ US$ 850 Mn by 2025, witnessing a CAGR of 6.2% over the forecast period (2018 - 2025), according to Diaper Bag Market Report, by Product Type (Backpack, Messenger, Traditional, Satchel, Clutch, Hobo, and Tote), by Application (Travel Use and Daily Use), and by Distribution Channel (Supermarkets, Hypermarkets, Online Stores, and Specialty Stores) published by Coherent Market Insights. The market growth is driven by rise in the birth birth, globally.
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Browse 460 pages, 180 market data tables* and 110 figures* on "Diaper Bag Market” - Global forecast to 2025.
Key Trends and Analysis of the Diaper Bag Market:
- According to Coherent Market Insights analysis, in terms of distribution channel, the online channel is anticipated to grow at the fastest rate during the forecast period. The online platform is becoming popular in most countries. For instance, according to the IBEF, Indian e-commerce industry has been on an upward growth trajectory and is expected to surpass the U.S. to become the second largest e-commerce market in the world by 2034. India’s e-commerce industry is expected to grow from US$ 38.5 billion as of 2017 to US$ 200 billion by 2026. The online distribution channel is expected to be the preferred mode of choice in North America to shop for diaper bags in the coming future. According to the WTO there were 223 million people shopping online in North America in 2017, with 30 million new users expected to shop online by 2021. There will be a total of 254 million eCommerce users by 2021,that will represent 85% of the total population.
- Online channel gives a customer the opportunity to order anything at a customer’s doorstep. Consumers have the option of comparing prices of different products on different websites and can choose from the various available options. Furthermore, online segment offers options such as free shipping, home delivery, on-time delivery, and easy exchange and return in addition to discounts. Therefore, consumers are preferring online buying model over the offline buying model.
Key Takeaways of the Market:
- According to the analysis by Coherent Market Insights, the diaper bags market is expected to be growing at the fastest rate in Asia Pacific over the forecast period. According to the WHO, fastest birth rates are recorded in Africa and Asia, which will have 15 of the 20 most populous nations by 2050. By the year 2100, it is projected that as many as one-third of all people, almost 4 billion, will be African, which in turn is expected to drive growth of the markets in the African and Asia Pacific region.
- Key market players are focusing on product innovation, in order to enhance their business and product portfolio in the global diaper bag market. For instance, in 2017, Ju-Ju-Be, a U.S.-based company, launched diaper bags with a variety of patterns and designs such as anime patterns, saucy, black and gray florals; cool coastal motifs amongst other prints. The machine-washable bags have two insulated pockets so that customers can keep their beverages cool while baby’s bottle is in the other pocket. The diaper bag pockets are lined with light-colored, antimicrobial material so as to can easily find items. The bags are also equipped with tiny bottom pocket holes that allow crumbs to drain out.
- Key players operating in diaper bag market include Carter’s, Disney, Sanrio, Graco, J.J Cole Collections, SUNVENO, Trend Lab, OiOi, Arctic Zone, Petunia Pickle Bottom, HaishuBoli, Storksak, Ju-Ju-Be, and Amy Michelle amongst others
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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