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Baby dryer is experiencing a growing market expansion as parents are progressively escalating their expenses made on babies' products. The product being able to save time in drying a baby's hair and baby’s articles is assisting to entice more consumers towards the baby dryer. The growing number of millennial women becoming mothers is likely to have a positive influence on increasing consumption as they are more aware and more willing to try out various baby products. For instance, according to the data issued by the National Retail Federation in April 2018, in America, over one million millennial women are becoming mothers, which is 50 percent of all parents.
The increasing number of dually employed parents in various countries around the world is anticipated to have a significant impact on the market growth. For instance, according to the data released by the United States Bureau of Labor Statistics in April 2020, in the United States, among married-couple families, 64.2 percent are assessed to be dual employed parents. Furthermore, the escalating concern for the health and well-being of babies is resulting to foster large number of parents to surge their baby’s product consumption, including a baby dryer.
Nevertheless, the rising number of parents who possess fewer children is acting as a hampering factor for market growth.
Key Market Driver -
The rising number of dual employed parents across the globe is acting as a driving factor for the market growth.
Key Market Restraint -
Increasing number of parents having less number of children act as a restraining factor for the market growth.
The First Years, Wabi, Grownsy, Philips Avent, Baby Brezza, Tommee Tippee, and others are the key companies operating in the baby dryer market.
The baby dryer is segmented into by product type, quality, sales channel, and geography.
On the basis of product type, the market is fragmented into hair dryer, baby wipes, bottle drying rack, clothes drying stand, and others. Clothes drying stand is estimated to be the dominant owing to the frequent change of the clothing of the babies and most women wanting to possess more clothing items for their babies.
Based on quality, the market is grouped into low, standard, and premium. Standard is projected to be the leading market because it is at a reasonable price range for most consumers. It also possesses durability and long-lasting quality, similar to a premium that has upsurged the preference rate.
By sales channel, the market is bifurcated into e-commerce and supermarket/hypermarket. Supermarket/hypermarket is anticipated to be the larger segment due to the availability of wide varieties of products, including baby’s dryer in one location. Thus, this makes it convenient for most parents with babies who don’t have much time to spend on shopping in multiple places.
On the basis of region, the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Asia Pacific is anticipated to hold the prominent share and is projected to continue throughout the forecast period of 2020-2027. The high birth rate of various countries of this region is estimated to have a significant contribution to the increasing consumption of the product. For instance, according to the data published by the UNICEF.Org in January 2020, out of the global number of birth of 392,078 babies in 2020 New Years Day, India is a major contributor with 67,385 babies, followed by China with 46,299 babies. Furthermore, the rising disposable income in this region is likely to propel parents to purchase baby products, including baby dryer. For instance, according to the Trading Economics data issued, the disposable personal income of India is projected to witness a rise of USD 2,937,239.53 in 2019 from USD 2,818,062.18 in 2018.
North America is projected to exhibit a substantial growth in the baby dryer market owing to the high spending made by parents on child care. For instance, according to the data published by the American Progress. Org in June 2019, in the United States, 5.1 million working families are estimated to make average spending of USD 250 on child care on a weekly basis. Additionally, baby's products exhibitions of this region such as Play Time New York, LA Kids Market, Children's Club, and others progressively gaining traction among parents with babies is estimated to surge the market growth.
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