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Indian Baby Care Market Expected to Grow into 2015
Posted: April 26, 2013
A report conducted by RNCOS has found growth in the Indian baby care market, which it expects to grow further into 2015. Driving factors include increasing spending power and increasing awareness about baby health and nourishment. The report was presented at South Asia's first Child, Baby and Maternity Expo (CBME), India 2013, an event organized by UBM India.
The report states that the Indian baby and child care market has substantially grown during the past few years and caught the attention of many international players. Estimated to be INR 647.6 billion (US $11.91 billion) in 2012, it is forecasted to register a CAGR of around 17% from 2011-2015.
The child and baby care market comprises baby cosmetics, food, diaper, baby and children apparel, footwear, toys and accessories/merchandise market. The majority of the market is children and baby apparel at INR 586.1 billion (US $10.78 billion); however, the cosmetics market is valued at INR 7.9 billion for 2013 (US $140 million), which is growing at a CAGR of 12%.
The baby food and diapers market are also expected to grow from 2011-2015, at 10% during 18%, respectively. The toys and accessories markets are also forecasted to grow.
Joji George, managing director of UBM India said, "The Indian baby care industry is emerging as one of the most lucrative market and has been witnessing phenomenal growth in comparison to the other emerging markets. The market, hitherto considered as a niche segment in the Indian perspective, is now ready for the metamorphism; into a highly potential & fully fledged industry."
Shushmul Maheshwari, chief executive of RNCOS added, "As per our analysis, high birth rate in India, rapidly growing Indian economy and the resultant increase in disposable income, along with the changing socio-economic status of women are the key factors driving growth in the Indian baby care market. Along with this trend, various other strong fundamental drivers discussed and analyzed in the report will enable this industry to sustain its upward growth trend in the coming years."
The research report also mentions that the baby and children care products market is growing fast in line with the retail industry, while it is also expected that large number of companies from the United States and Europe will target India to expand their operations and capture the untapped market.