Global Baby Bottle Market: Overview
The global baby bottles market is characterized by a healthy degree of competition owing to the presence of both regional and international players operating in it. In order to grow their shares and bolster their market presence, savvy players are seen trying to expand their geographical outreach; they seem particularly focused on the developing nations in Asia Pacific and Latin America which are relatively untapped so far. The players are also seen banking upon product differentiation to promote sales.
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A recent report on the global baby bottles market that has been published by Transparency Market Research presents crucial information on it. It studies the factors favoring and hindering the market’s course and also the regions and product segments that hold out maximum potential. The report banks upon current and historical figures in order gauge the current and future size of the market.
Global Baby Bottle Market: Key Trends
Numerous factors combined together are majorly catalyzing growth in the global baby bottles market. Foremost among them is the soaring uptake of formula milk owing to more number of lactating mothers stepping out to work. In fact, milk formula is one of the fastest-rising categories in the packaged foods market. This is because it safely allows parents to do away with breast feeding and focus on their work and other outdoor activities. This coupled with major formula milk producing companies of the likes of Abbott and Nestle rolling out better products every now and then is fuelling sales of baby bottles big time.
Apart from that, continued thrust by makers of baby bottles on creating more evolved versions using better materials and having enhanced features is also benefitting the market alongside the increasingly disposable incomes of people worldwide. Further, mushrooming supermarkets and hypermarkets, pharmacy and drug stores, and online e-tailing platforms are having a positive impact on sales too.
A noticeable trend in the baby bottles market is the emergence of BPA-free baby bottles. BPA is known to cause serious health conditions such as brain and thyroid abnormalities, breast and prostate cancer, heart diseases, and infertility. Continued heating can result in the BPA content on the inner surface of baby bottles to enter into the liquid it stores – be it water or formula milk. To overcome such challenges, astute manufacturers are coming up with BPA-free products. They are also trying to come up with new materials for making baby bottles such as stainless steel, glass, and silicone.
Global Baby Bottle Market: Regional Outlook
From a geographical standpoint, Asia Pacific is a key region. This is because of the presence of a copious number of manufacturers in the region, particularly in China. A large population in the region – it is said China and India are home to two-third of the world population – is proving beneficial to the baby bottles market as well. With a rising tribe of educated women who are increasingly going out to work, the market in the region is expected to grow its substantial share further in the future as well. North America and Europe, other prominent market, are expected to see slowing sales growth over the course of the next few years because of their markets getting saturated.
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Global Baby Bottle Market: Competitive Dynamics
Some of the key players in the global market for baby bottles are BABISIL, Mayborn Group Limited, Handi-Craft Company, Pigeon, and Munchkin.