A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Baby Feeding Bottles – Global Market Trajectory & Analytics”.
The report presents fresh perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace.
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Global Baby Feeding Bottles Market to Reach $3.5 Billion by 2026
The global baby feeding bottle market is slated to garner significant momentum owing to the confluence of a number of favorable factors. The baby feeding bottle market is estimated to be driven by an increasing number of working women, rising acceptance of infant formula, and busy lifestyles.
Baby feeding bottles are highly popular baby care products that are mainly used during the first year of a baby. Specially designed to address feeding requirements of infants, these bottles feature a rubber-based teat to help a baby directly drink milk or other liquids from the bottle. These feeding bottles are used as a substitute for breastfeeding and are generally made of silicon, glass, stainless steel and plastic.
The Global baby feeding bottles market is estimated to be driven by increasing number of working women, rising acceptance of infant formula and busy lifestyles. Rapid urbanization, expansion of middle-class population and improvement in living standards are anticipated to drive the demand for quality and better baby care products, including baby feeding bottles. As infant formula is fed through baby feeding bottles, the market holds a positive correlation with the demand for infant formula.
Amid the COVID-19 crisis, the global market for Baby Feeding Bottles estimated at US$2.9 Billion in the year 2022, is projected to reach a revised size of US$3.5 Billion by 2026, growing at a CAGR of 4.8% over the analysis period. Plastic, one of the segments analyzed in the report, is projected to record a 4.3% CAGR and reach US$1.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Silicone segment is readjusted to a revised 4.5% CAGR for the next 7-year period.
Plastic feeding bottles for babies have been used for the past several decades as they are inexpensive and lightweight in nature. These bottles are durable and opaque to help mothers in conveniently measuring the remaining quantity of the food. The segment is anticipated to continue commanding the market over the coming years on account of easy availability and affordable price points of plastic baby feeding bottles.
The U.S. Market is Estimated at $464.9 Million in 2022, While China is Forecast to Reach $595.1 Million by 2026
The Baby Feeding Bottles market in the U.S. is estimated at US$464.9 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$595.1 Million by the year 2026 trailing a CAGR of 6% over the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 3.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR. In these markets, increasing acceptance of infant formula along with availability of different formula milks by leading brands is poised to push market growth.
Another prominent factor is continuing transformation of the retail as well as distribution infrastructure. The emergence of new models like online platform, neighborhood stores and brick-and-mortars stores is expected to increase consumer access to these products and foster consumption. Global demand for these bottles is fueled by increasing product awareness and proliferation of the Internet.
Another prominent factor driving the market growth is the explosive growth displayed by the e-commerce industry. Online platforms provide an extensive line of baby feeding bottles to attract parents. In addition, an increasing number of companies are investing in the online channel to expand the customer base and boost sales.
Glass Segment to Reach $615.4 Million by 2026
Factors like distortion of bottles in freezers and health concerns associated with plastics are driving customers` preference for glass bottles. In the global Glass segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$247.2 Million will reach a projected size of US$343 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$201.4 Million by the year 2026, while Latin America will expand at a 5.9% CAGR through the analysis period.
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