Innovative product offerings facilitated by the manufacturers, increasing disposable income of customers, and rising birth rate propel the growth of the global baby feeding bottles market.
PORTLAND, Ore., Sept. 1, 2020 /PRNewswire/ -- Allied Market Research published a report, titled,"Baby Feeding Bottles Market by Material Type (plastic, stainless steel, silicone and glass) and Distribution Channel (hypermarket/supermarket, specialty stores and online stores): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report published by Allied Market Research, the global baby feeding bottles market generated $2.8 billion in 2018, and is projected to reach $4.2 billion by 2026, registering a CAGR of 5.10% from 2019 to 2026.
Drivers, restrains, and opportunities-
Innovative product offerings facilitated by the manufacturers, increasing disposable income of customers, and rising birth rate propel the growth of the global baby feeding bottles market. Nevertheless,availability of low quality products restrains the market growth. Moreover, premiumization trend and rise of social media marketing offer new opportunities in the near future.
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The plastic segment contributed to the largest share in 2019-
Based on type, the plastic segment contributed to the largest share in 2019, accounting for more than one-third of the global baby feeding bottles market, and is estimated to maintain its dominant position during the forecast period. This is attributable to the fact that plastic baby feeding bottles are easily available at affordable prices. Furthermore, the glass segment is expected to register the highest CAGR of 6.3% from 2019 to 2026. Glass bottles are hefty and do not contain any chemicals which can potentially get into the baby's formula. This factor drives the growth of the segment.
The hospital segment to dominate the market in 2019-
Based on distribution channel, the hyper market/super market segment accounted for the largest share in 2019, holding nearly two-fifths of the global baby feeding bottles market, and is expected to maintain the largest share throughout the forecast period. This is attributed to the fact that most of the baby care products are easily available in such stores at affordable rates. On the other hand, the online store segment is estimated to portray the highest CAGR of 6.2% during the forecast period. This is attributed to increasing penetration of internet.
North America to grow at the fastest growth rate-
Based on region, North Americais expected to grow at the highest CAGR of 6.5% from 2019 to 2026. Demand for the products is anticipated to increase in North America owing to the growing awareness about the baby feeding bottles in this region. On the other hand, Asia-Pacific contributed to the highest share, accounting for around one-third of the global baby feeding bottles market in 2019, and will maintain its dominance throughout the forecast period. Customers in the Asia-Pacific region are price sensitive and rise in disposable income has driven them to invest in hygiene related baby products. Furthermore, the increase in awareness regarding baby hygiene products in this province augments the growth of the global market.
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