- Innovation product offerings facilitated by the manufacturers, rise in disposable income of customers, and increasing birth rate drive the growth of the global baby pacifier market
PORTLAND, Ore., Dec. 1, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Baby Pacifier Market by Product Type (Single-piece Baby Pacifiers and multiple-piece Baby Pacifiers), By Size (Small, Medium and Large), and Distribution Channel (Online and Offline): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global baby pacifier industry accounted for $352.2 million in 2018 and is anticipated to reach $522.6 million by 2026, registering a CAGR of 5.1% from 2019 to 2026.
Chief reasons for market fluctuations
Innovation product offerings facilitated by the manufacturers, rise in disposable income of customers, and increasing birth rate drive the growth of the global baby pacifier market. However, the availability of low-quality products hampers the market growth. On the contrary, rise in social media marketing is expected to create lucrative opportunities in the near future.
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The single-piece baby pacifier segment dominated the market
By product type, the single-piece baby pacifier segment held the largest share in 2018, contributing to more than half of the global baby pacifier market, as the product is easily available at an affordable rate for the target customers. However, the multiple-piece baby pacifier segment is expected to register the fastest CAGR of 5.8% during the forecast period, owing to some of its innovative factors that specifically cater to target customers' requirements.
The online distributing channel segment to portray fastest growth by 2026
The online segment is expected to register the fastest CAGR of 6.2% during the forecast period, owing to increase in rate of Internet penetration across the key regions. However, the offline segment dominated the global baby pacifier market in 2018, accounting for more than four-fifths of the market, as offline stores such as supermarket/hypermarket offer strong distribution channels along with extended product offerings.
LAMEA to manifest the fastest CAGR followed by North America through 2026
The global baby pacifier market across LAMEA is expected to register the fastest CAGR of 6.7% from 2019 to 2026, due to increase in availability of both international and regional brands in the country. On the other hand, the market across North America is anticipated to manifest a CAGR of 5.7% during the forecast period. However, the market across Asia-Pacific held the largest share in 2018, accounting for around one-third of the market, owing to increase in rate of disposable income of concerned parents and rapid rise in urbanization.
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Major market players
- doddle & co.
- Trebco Specialty Products Inc.
- MAM USA Corporation
- Koninklijke Philips N.V.
- Mayborn USA Inc.
- NUK USA LLC
- The White Company
- The Natural Baby Company
- Baby Shusher
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