MUMBAI: The domestic baby and childcare market, which has been growing at CAGR of 17 per cent since 2012, is set for a big boom with a host of global players foraying with innovative products.
Brevi from Italy, Combi from Japan, Bubba Blue from Australia, Tiny Love from Israel, Grup Baby from Turkey, US Baby from China, Kiddy Gmbh from Germany, Tolly Joy from Singapore and Farlin from Taiwan are some of the top brands which will be foraying into the local market during an industry event taking place this week.
“The child-baby care product industry is highly fragmented with few organised players in the fray. Considering the huge potential that this market offers, these brands are making a debut in the local market,” UBM India Managing Director Joji George said.
UBM India specialises in holding exhibitions with an aim to bring together all stakeholders — manufacturers, distributors, retailers as well as consumers — at one common platform and has been organising the second edition of industry event, CBME India 2014 from April 3.
With India being home to around 50 million babies in the 0-2 years age group and 304.8 million children in the 0-12 years group, the country offers immense opportunities to the segment players to tap this growing market, he said.
According to research and consultancy firm RNCOS, the domestic baby and children care products market which includes apparel, footwear, toys and baby cosmetics is growing in sync with the retail industry growth, and is estimated to grow at a CAGR of around 17 per cent during 2012-2017 to USD 26.2 billion from USD 11.8 billion in 2012.
Despite worldwide economic crisis, the sales soared to USD 11.8 billion in 2012, owing to strong demand for baby and children apparel, footwear, toys and baby cosmetics, RNCOS said in the report.
Some of the innovative products which are expected to be rolled out during the event include ergonomically designed furniture for infants and kids to support better growth and development, tablets for kids, musical toys which help to put the baby to sleep, among others, Joji said. —PTI