by The Diaper Market is estimated to be valued at US$ 93.4 Bn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: –
Diapers are absorbent garments worn by babies, toddlers who are not potty trained, and by children, the aged, and persons with certain medical conditions to absorb and contain urine and/or feces. Diapers help reduce the contact of urine and feces with clothes and reduce the risk of leakage and keep the wearer dry. Key considerations while selecting diapers include absorbency, fit, comfort, breathability, and convenience.
Market key trends: –
The diaper market is expected to witness significant growth owing to increasing disposable income among consumers globally. Disposable incomes continue to rise in emerging economies, allowing consumers to spend more on baby care products like diapers. As per the World Bank estimates, the global middle class population is expected to grow from 3 billion in 2017 to over 5 billion by 2030. Also, growing female workforce participation coupled with rising birth rates in emerging nations is expected to fuel sales of diapers during the forecast period. Furthermore, growing preference for eco-friendly and organic diapers attributed to rising health and environmental concerns among parents is expected to present lucrative growth opportunities for market players over the forecast period.
Porter’s Analysis: –
- Threat of new entrants: – Low capital requirements and established brand loyalty make it difficult for new players to enter the market.
- Bargaining power of buyers: – Diaper buyers have low bargaining power due to limited alternatives and necessity.
- Bargaining power of suppliers: – Suppliers have moderate power due to scarce raw materials.
- Threat of new substitutes: – Reusable cloth diapers and limited modern alternatives pose minor threats.
- Competitive rivalry: – Intense competition exists between global brands over market share.
SWOT Analysis: –
- Strengths: – Established brands, product innovation, economies of scale.
- Weaknesses: – Rising raw material costs, vulnerability to economic cycles.
- Opportunities: – Expanding middle class in emerging markets, eco-friendly products.
- Threats: – Trade protectionism, changing consumer preferences, stringent regulations.
Key Takeaways: –
The Global Diaper Market Demand is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period, due to increasing disposable incomes and urbanization. The market size for 2023 is estimated at US$ 93.4 billion. North America dominates the global market currently due to high birth rates and disposable incomes. The Asia Pacific region is anticipated to be the fastest growing market owing to rising standards of living.
Key players operating in the diaper market are Svenska Cellulosa AB, DSG International Ltd., First Quality Enterprises, Inc., Kimberly-Clark Corporation, Abena A/S, Attends Healthcare Products, Inc., Unicharm Corporation, Kao Corporation, Ontex Group, Chiaus (Fujian) Industrial Development Co Ltd and others. Major players are investing in product innovations and expansion in emerging economies to strengthen their foothold.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
