“Global Baby Stroller Market: Products, Materials, Applications, Growth Rates and Shares, and Forecast: 2020-2029” is the title of one of the recently produced reports by research team at Market.US. The global baby stroller market is projected to reach a value of approximately US$ 1.6 Billion in 2029, from a value of around US$ 914 Million in 2019. The global market is projected to register a steady growth rate of 6.2%.
Stroller is a small carriage with wheels, particularly designed for strolling infants. Stroller is well equipped with safety components including safety belts and harnesses, that ensures security of the baby while seated in stroller. Sometimes canopy and hood are integrated to protect infants from rainwater and sun rays. Strollers that are lightweight, easy to store, foldable, and compact are being preferred by buyers across the globe.
Global baby stroller market is expected to register significantly high CAGR, particularly in developed countries, due to favorable economic conditions in countries in the regions. Growing urbanization is another key factor expected to drive growth of the target market. Demand for baby products including strollers is majorly driven by increasing birthrate, increasing awareness regarding advantages of baby products among parents are other factors impacting market growth positively. In addition to rise in disposable income, dual-earning is the latest trend, particularly in developing economies and growing number of nuclear families is also anticipated to aid the market growth. Majority of stroller sales are in developed economies such as the US and Europe, and penetration of strollers and prams in Europe is excessive. Out of the total European population, more than 70% accounts for the urban population and roughly every urban household owns at least one baby stroller. Although baby stroller market is still in its nascent stage in emerging economies of APAC, nonetheless changing lifestyles and increased child health and safety concerns amongst young parents in countries such as China, India, and Indonesia is driving demand for baby stroller market which will witness significant growth in this regions over the coming years.
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Another factor driving the growth of global baby stroller market is robust growth of the e-Commerce sector. Since, most of the young parents spent their time on the internet, well-planned web marketing is a factor that is expected to boost the market growth over the forecasted timeframe. Over the years, parenting has become easier and convenient owing to incorporation of modern technologies and innovations. The market is also witnessing introduction of highly sophisticated, comfortable and advanced baby products; and players in the market are developing add-on features and designs to differentiate which is highly accepted by end-users. Innovative products with improved quality is major trend which is expected to drive the market over the forecasted period. According to government regulations, baby strollers and prams have to undergo numerous quality checks before they are out in the market, this improves the quality of strollers produced by the vendors. Increased demand from emerging nations is also another factor which is likely to provide strong growth opportunities in the coming years. Thus, with the combined effect of emerging trends and drivers, the future of the global baby stroller market looks promising.
Penetration of baby strollers, prams, and other baby care accessories is comparatively low in emerging economies such as India, Indonesia, and others as large chunk of population resides in rural areas. Owing to low disposable income parents prefer conventional and traditional baby care methods instead of advanced baby care products which is certainly hampering growth of market. High cost of baby products, declining birthrate, especially in developed countries, where the demand for baby products is high currently, are factors that could hinder growth of the global market to some extent.
Several rules and regulations implemented by government specifically in developed nations on procedures of production of baby care products and accessories, resulting in product undergoing several quality checks before entering the market, this might impact the overall growth of the market adversely. Baby stroller market is still in a nascent stage in developing economies such as India, Brazil, Mexico, and certain Southeast Asian countries. However, increased consumer concerns regarding safety of their child and rise in per capita income in these regions are spurring growth of the market, making them an attractive location for launch of new products. Since, these market serve as lucrative growth opportunities, international vendors are increasingly venturing into these market and expanding their market share.
Further growing urban population particularly in developing economies is giving rise to the demand for strollers and prams as young parents are more concerned and aware regarding their baby’s health and safety, which is providing major growth opportunities for the vendors in these regions. In addition to this, proliferation of online stores and portals committed specifically to baby care accessories and products is also providing a major growth opportunity for the market that will drive the market over the forecasted period.
Trends: Baby care product manufacturers are contemplating fresh alliances with baby care portals, online retailers, and baby boutique chains, this has assisted the baby stroller producers to enhance promotion of their products and hence expanding their reach to customers. This is a recent market trend which is anticipated to aid the market growth in near future as well.
The market is also witnessing introduction of highly sophisticated, advanced, and comfortable baby strollers and prams, and improved product quality is one of the major trends. Further, parents are becoming extremely conscious of materials that are used in which do not pose any harm to their babies. Amongst the environment-conscious customers, eco-friendly strollers and prams are new and trending products that have gained extreme popularity and is likely to continue in the coming years.