Covid-19 Impact
The baby industry is an industry that a lot of entrepreneurs don’t pay attention to. Knowing fully well that the rapid spread of the COVID-19 outbreak has come with a devastating global impact on various industries. It has become a global threat and taken a lot of jobs and businesses to the cleaners.
Looking at the future with the spectacles of the past. One thing I can tell you that the World isn’t talking about is the impending population explosion that is about to hit us during Post-Covid-19.
Baby Boomers
Remember the “Baby Boomers” during post World War II – The population explosion of new infants immediately and the War. About 77 million babies were born in the United States alone, making a total of nearly 40% of the American population. These 77 million people born between 1946 and 1964 in the US alone and the birth rates across the world spiked.
However, history has it that the idea behind the Baby Boomer was caused by two factors: People wanting to start the families that they put off during World War II and the Great Depression. They were also optimistic that the coming era would be safe and prosperous. This was indeed true in all indication. The late 1940s and 1950s generally saw increases in wages, thriving businesses, and an increase in the variety and quantity of products for consumers. Those who invested in the baby industry made a fortune.
A lot of Companies were birthed and founded to capture the Baby Boomers Generation. Brands ranging from; Reese Peanut butter, Quaker Oat, Pampers, Huggies, Ziploc, Band-Aid, McCormick, Chiquita, etc.
The Opportunity
This is an industry that is going to have an upward trajectory during Post-Covid-19. The exponential growth is going to hit an all-time high of 162%. You can’t leave two adults on lockdown for months without expecting the third.
More so, the baby care products market is projected to be worth approximately 109.13 billion U.S. dollars worldwide in 2026. This is a geometric increase from 73.86 billion U.S. dollars, which was the estimated value of the market in 2018 according to research by (Globe Newswire). The Compound Annual Growth Rate (CAGR) of the market is expected to grow by 7.3% (CAGR 2020-2025).
Key Players
Some key players are currently moving with the tide and contributing to the size of the market?
Key companies in the global market are increasing their production because of the boom that is about to hit the market. Procter & Gamble Company, Kimberly-Clark Corporation, Johnson & Johnson PLC, Unilever PLC, Nestle S.A., and Abbott Nutrition.
Products
The baby care market is composed of different sectors and products, such as toys, feeding accessories, wipes, disposable diapers, body care products, and soothers.
- Cosmetic & Toiletries
- Baby Skin Care Products
- Bath Products
- Baby Hair Care Products
- Other Cosmetics & Toiletries
- Baby Food
- Milk Products
- Frozen Baby Food
- Baby Juice
- Baby Food Snacks
- Baby Food Cereals
- Baby Safety & Convenience
- Baby Strollers
- Baby Car Seats
With all of these currently unfolding from this industry. If there is an industry to play around in the next 1-5 years- The kiddies Industry is one of them.
Hence, the need to position yourself for the Boom that is about to hit the baby industry and tell the future from the previous events of the past.
Photo Credit: Pinterest
