Pune India, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the diaper bag market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the diaper bag market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the bag type, application, distribution channel, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global diaper bags market Sanrio Co., Ltd., Graco, Carter's, Inc., SUNVENO, J.J Cole Collections, LLC, OiOi, Trend Lab, Arctic Zone & California Innovations Inc., Storksak, Petunia Pickle Bottom, Ju-Ju-Be, and Amy Michelle. among others. To achieve a substantial market share in the worldwide diaper bags market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Designed with convenient carrying features and multiple storage pockets, diaper bags allow consumers to carry on normal activities such as holding the baby, opening doors, shopping, and making payments while holding the baby. The bags have been modified to improve their functionality, including rigid handles, multipurpose features, and wheels. Demand for diaper bags could be driven by the growing popularity of daycare use, especially among busy parents. Also, long wait times for doctors, especially in densely populated areas, may increase the demand for diaper bags. Additionally, as more and more parents travel with their babies, consumption has increased. In addition to an increasing number of travel activities among families, a rising consumer preference for organized utility storage facilities, innovative product design and capacity, and hassle-free travel are all factors that drive the demand for better-quality diaper bags. Online retailing is expected to increase in popularity among consumers, opening up lucrative opportunities for the global diaper bag market. Premium and international brands are targeting a large customer base via online retailing. A survey conducted by MMR Reports found that millennials with young children travel more than once a year internationally and on adventurous trips. As a result, diaper bags are in greater demand than other types of bags among American millennial families.
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Scope of Diaper Bags Market Report:
|Market Share Unit||USD Billion|
|Segments Covered||Bag Type, Application, Distribution Channel, and Regions.|
|Regions Covered||North America, Europe, Asia-Pacific, South America, and Middle-East and Africa|
|Major Players||Sanrio Co., Ltd., Graco, Carter's, Inc., SUNVENO, J.J Cole Collections, LLC, OiOi, Trend Lab, Arctic Zone & California Innovations Inc., Storksak, Petunia Pickle Bottom, Ju-Ju-Be, and Amy Michelle. among others|
Backup is expected to be the fastest-growing segment in 2022.
The bag type segment includes a backpack, tote, messenger, and others. The backpack segment is expected to witness the highest growth rate during the forecast period. As backpack diaper bags are easy to carry and offer extra storage, they are excellent alternatives to standard shoulder strap diaper bags. When travelling, the bag frees up both hands, making it easier to carry the infant due to which the backpack segment is dominating the diaper bags market.
Travel is expected to be the fastest-growing segment in 2022.
The application segment includes travel and daily use. The travel segment is expected to witness the highest growth rate during the forecast period. When parents want to avoid the hustle and remain organized, they choose bags that are easy to carry and can accommodate all their belongings at the same time. When travelling with a baby, carrying all the essential baby items becomes a necessity. This diaper bag has gained popularity during travel activities. Compact diaper bags are also being demanded during travel due to restrictions on cabin luggage dimensions and numbers.
Online is expected to be the fastest-growing segment in 2022.
The distribution channel segment includes online and retail outlets. The online segment is expected to witness the highest growth rate during the forecast period. Companies with physical stores also target sales through online channels and reach a large customer base. This segment is expected to grow over the forecast period due to the wide availability of products, discounts, easy returns, and home delivery.
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the diaper bags market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. According to the Bureau of Labour Statistics (BLS) of the United States, the demand for diaper bags is driven by factors such as high purchasing power, the high travel rate of people with infants, and an increase in the number of working women. The need to carry all baby products on the go becomes increasingly important for working parents boosting the growth of the market in the region.
The global engineering plastics market is expected to grow from USD 122.7 billion in 2022 to USD 206.14 billion by 2030, at a CAGR of 6.7% during the forecast period 2023-2030.
The rising demand for baby products among the working women is contributing a large share in the growth of the diaper bags market of the country.
China’s diaper bags market size was valued at USD 0.15 billion in 2022 and is expected to reach USD 0.18 billion by 2030, at a CAGR of 2.8% from 2023 to 2030.
The rising demand for baby products is boosting in the country due to of rising number working mothers.
India's diaper bags market size was valued at USD 0.11 billion in 2022 and is expected to reach USD 0.13 billion by 2030, at a CAGR of 2.7% from 2023 to 2030.
Market growth in the country is also largely driven by higher disposable income and a better standard of living
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising demand for flavored beverages among consumers, propelling the growth of the market across the countries.
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