India Baby & Childcare Market
The Baby & Child Care Products market in India is projected to grow at a CAGR of 14% to reach USD 68 billion by CY2028Â
India has one of the highest birth rates globally, with 16 births per thousand people in CY2021. The annual birth rate of India is ~1.5x of developed economies. While India witnessed a small decline in birth rates due to Covid,the decline was smaller than that seen in other countries. Baby & childcare products spending in India is currently nascent and is projected to grow faster than key global markets.
India Baby & Childcare Market
The Baby & Child Care Products market in India is projected to grow at a CAGR of 14% to reach USD 68 billion by CY2028Â
India has one of the highest birth rates globally, with 16 births per thousand people in CY2021. The annual birth rate of India is ~1.5x of developed economies. While India witnessed a small decline in birth rates due to Covid,the decline was smaller than that seen in other countries. Baby & childcare products spending in India is currently nascent and is projected to grow faster than key global markets.
Growth Drivers
Increase in demand
Rising awareness about the importance of baby health and hygiene and increasing disposable income have increased adoption
Increase in market size on account of premiumization
Willingness to pay a premium due to a shift in preference towards branded products and a rise in quality of branded products in the market
Impact of shorter replacement cycles
Fast evolving needs of babies and children in age of 0-12 have resulted in shorter product replacements cycles and higher purchase frequency
Increase in penetration across tier 2+ cities and towns
Rising disposable incomes and democratization of sales channels is leading to an increase in access and penetration of baby productsÂ
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