Global Baby Diapers Market Report, published by Variant Market Research, forecast that the global market is expected to reach $72 Billion by 2024 from $48 Billion in 2016, growing at a CAGR of 5.1% from 2016 to 2024. By geography, Asia Pacific and RoW are expected to grow at a CAGR of 6.8% and 5.8%, respectively, during the forecast period.
The global baby diapers market is driven by factors such as, growing per capita income, increasing consumer awareness, and rising number of employed women. However, high cost of diapers may hamper the market growth. Low rate of degradation, and capable of releasing volatile organic compounds would provide several growth opportunities for the market in the coming years.
Product type, baby weight, absorption level, and geography are the major segments considered in the global baby diapers market. Product type is further classified into cloth diaper (1-part diaper (one-piece diaper and snap-in diaper) and 2-part diaper (fitted diaper, prefold diaper and pocket diaper)), disposable diaper (1-part diaper and 2-part diaper), and other diapers (bio-degradable diaper, cloth swim diaper and cloth training pant). By baby weight, the segmentations include 0-2 kg, 2-4 kg, 3-6 kg, 5-8 kg, 7-13 kg, 9-14 kg and over 14 kg. Furthermore, absorption level is segmented into low absorption and high absorption.
In product type, disposable diaper accounted for the largest market share in 2016, followed by cloth diaper. In terms of baby weight, 2-4 kg and 3-6 kg accounted for the majority of segment share in 2016. High absorption dominated the absorption segment with largest market share whereas, low absorption is likely to attain fastest CAGR during the forecast period 2016 – 2024.
Geographically, the baby diapers market has been bifurcated into North America, Europe, Asia-Pacific, and Rest of the World (RoW). European held the largest market share with 32.8% in 2016, mainly driven by increased demand for disposable and biodegradable diapers. Asia-Pacific held the second largest market share with 29.1%, and the region is anticipated to attain the fastest CAGR, driven by growing infant population, increasing disposable income, and growth in number of employed women.
The key players operating in the market include Johnson & Johnson, Unicharm Corporation, Kao Corporation, Procter & Gamble Company, Bumkins Inc., Diapees and Wipees, Svenska Cellulosa Aktiebolaget SCA, Fujian Hengan Group Ltd., Ontex International N.V, and American Baby Company, among others.