India's baby care market is pegged at a little over USD 15 billion as of 2022. It is expected to grow at a compounded annual growth rate of over 17 percent to almost USD 40 billion by 2029.
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Global baby care products market is segmented by product type --baby clothes, skin care, baby hair care, toiletries, and baby food and beverage and so on.
Apparel makes up the largest chunk of this market and commands almost 80 percent of the total baby care market share as per Frost & Sullivan. Baby food makes up another 7 percent, followed by diapers, toys and toiletries.
Over the long term, the baby care product market is primarily driven by the rising baby health concerns, including the need for nutritional foods. Baby care products like skincare, hair care, toiletries are specially designed for the infants due to their sensitive skin and these products are required throughout baby's growing stages. Similarly, baby food and beverages contains essential nutrients which provides nourishment and often promote developmental benefits to infant and young children.
Key segments of the baby care market which include baby gear, prams, toiletries, and diapers are growing by 14 percent per annum. Products for new mothers is among the fastest growing segment, wipes and cleaners are also seeing 15-18 percent growth annually.
From global multinational giants like J&J, Nestle, Procter & Gamble Co, Unilever, Kimberly-Clark Corp to Indian companies like Dabur India, The Himalaya Drug Co, newer age companies like Mamaearth and Baby Chakra- which was acquired by MyGlamGroup and so on are some of the leading brands in these categories.
To discuss the prospects of baby care segment, CNBC-TV18 spoke to Naiyya Saggi, Founder of BabyChakra and Varun Alagh, Co-Founder of Mamaearth.
Watch video for more.
