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Baby car seat market growing at 8% CAGR globally: Actual Market Research
Jul, 27
2021

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Baby car seat market growing at 8% CAGR globally: Actual Market Research

 

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Falling fertility rates mean nearly every country could have shrinking populations by the end of the century. That's a pretty big thing; most of the world is transitioning into natural population decline, and it is incredibly hard to recognize how big the same is going to be and what extraordinary steps are required to reorganize societies. The recent publication by Actual Market Research under the title- Global Baby Car Seat Market Outlook, 2026; studies the market value trend for the period of 2015 to 2026, based on product type, sales channel, region, country & companies.

There is a concern about declining birth rates in both the developing and developed worlds. Fertility rates tend to be higher in poorly resourced countries but due to high maternal and perinatal mortality, there is a reduction in birth rates. Developed countries tend to have a lower fertility rate due to lifestyle choices associated with economic affluence where mortality rates are low, birth control is easily accessible and children often can become an economic drain caused by housing, education cost, and other cost involved in bringing up children. Yet with the increase in car accident rates, the market was recorded at a value of USD 4534.62 Million in 2015. The declining birth rate is not unique to Britain and Western European countries. Countries like Japan have a similar concern. Even though this is to hamper the baby car seat market, the industry is expected to witness a growth rate of over 8% in the coming period.

While the birth rate is on the decline, the child mortality rate is at an incline. It is not only the case with the under-developing country but also in the rich affluent countries. Sweden, the United Kingdom, Italy, and the Netherlands occupy the top four places – all with child injury death rates below 7 per 100,000. The United States and Portugal are countries where child injury deaths are running at more than twice the level of the leading countries, while in Mexico and South Korea where child injury death rates are three to four times higher. Of all these infant deaths, shockingly 41% were a result of transportation accidents. With increasing understanding and the willingness to spend more on child care, the infant baby car seat segment accounted for over 30% of the market since the last half-decade. The convertible baby car seats being advantageous for long-time use is expected to show the highest growth rate of 9.09%.

Responding to population decline is likely to become an overriding policy concern in many nations, but must not compromise efforts to enhance women's reproductive health or progress on women's rights. With more women in the workforce, leading to dual income patterns the market is dominated by the hypermarket & supermarket segment. The segment has been holding to more than half of the market share. Contradicting to this, the young parents prefer to spend more time online, thus the online store segment is to grow with an anticipated CAGR of 12.13%.

The declining birth rate in developed regions is the major factor hindering the growth of the global baby car seat market. Europe leads the market with a share of over 30% in the global market. High-priced baby car seats discourage developing and under-developing countries from buying them. In some of such regions, cars are still a luxurious commodity and unaffordable to several people. Road traffic injury is a leading cause of disability and death in the Asia Pacific and with the increase in the understanding of parents, the region is expected to be a most potential market in the future.

The companies are focusing on new product developments, market expansion, and technological advancements, to sustain the market competition and increase the sales of the product. Key manufacturers of this industry include Dorel Industries Inc., Goodbaby International Holdings, Graco Children's Products Inc., Mothercare PLC, Car Mate MFG CO. LTD., Britax Child Safety Inc., Diono INC., Infa-Secure Pty Limited, HTS Besafe, Clek INC