Global Durable Juvenile Products Market: 2014 Edition
16 Apr, 2015, 12:16 ET
LONDON, April 16, 2015 /PRNewswire/ -- Durable juvenile products include products such as strollers, car safety seats, cribs and other products used by children. This category accounts for the largest share in juvenile products industry. The key consideration to drive the durable juvenile product market includes comfort, safety, ease and convenience.
The durable juvenile market has continued to grow despite the downward trend in birth rates observed in developed economies and global economic crisis of 2008-09, underlining the fact that parents want the best products for their baby. The market for baby durables is chiefly fostered by affluent parents keen on providing their babies with the very best of products and services available in the marketplace. For those who can afford it, the sky's is the limit for children products. The fact that people shops for durable juvenile goods bother less about price as compared to safety and style has enabled premium durable juvenile product market to continue to attract consumers. As a result, parents are increasingly willing to pay premium prices for high-end juvenile products which has resulted in robust growth of premium durable juvenile market.
The durable juvenile product market growth will be driven by parents with higher discretionary spends, dual income households, and increasing number of women in the workforce, uncompromising emphasis on child safety, health, and wellness, and growing awareness over the right ways of parenting. Product innovation and development has allowed retailers and manufactures to widen the market, using new technologies and advanced marketing approaches. Moreover, emergence of e-commerce in juvenile product market is scaling new heights, and with increasing number juvenile shopping websites the market is also experiencing growth. This number is expected to further swell in coming years, as a result, the web presence will become competitive advantage for brands competing in the juvenile product space. Ongoing mergers and acquisitions, growing premium durable juvenile product market and utilization of safe and innovative raw materials in manufacturing of juvenile durables are the key trends observed in this market.
Most of the growth in the durable juvenile product market is driven by China. The large customer base coupled with increasing household income in the country is a major factor that offers growth opportunities for durable juvenile business. Interestingly, sluggish birth rates in China has resulted in greater willingness among parents to buy expensive, eco-friendly, high-end products for their infants, and toddlers. In addition to this, China continues its transformation in safety standards and awareness in the juvenile care, which will further propel the market growth in the country.
The report,"Global Durable Juvenile Products Market" analyzes the development of the global durable juvenile market, with a focus on its segments including: strollers, children's car safety seats and cribs. The global market along with markets of North America, Europe and emerging economies are being discussed in the report. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The four major players in the industry, Goodbaby International, Dorel Industries Inc., Newell Rubbermaid Inc. and Summer Infant, Inc. are being profiled, along with their key financials and strategies for growth.
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