The global breastfeeding accessories market size is expected to reach USD 3.90 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.45% from 2022 to 2030. An increasing women’s employment rate is expected to surge the demand for breastfeeding accessories, thereby propelling the market growth. For instance, according to the data from the World Bank and the International Labor Organization, 55% of women in the U.S. are employed, whereas this number increases in the U.K. with 59% women employability.
Breastfeeding Accessories Market Report Highlights
- Based on product, the breastmilk storage and feeding segment dominated the market with a share of over 15.0% in 2021 owing to an increase in the women’s employment rate
- The postpartum recovery accessories product segment is expected to register the fastest growth rate over the forecast period. An increase in the number of births is anticipated to have a significant impact on the use of postpartum recovery accessories
- Asia Pacific held the largest revenue share of over 40.0% in 2021 owing to the presence of a large target population and an increase in the birth rate
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Working women are more likely to purchase breastfeeding accessories, thus, with a surge in the women’s employment rate, the market is expected to grow over the forecast period. Moreover, there has been a rise in the global birth rate. For instance, as per the latest report by the International Institute of Sustainable Development (IISD), the global fertility rate has touched 2.3 births per woman, which is well above the replacement rate. Similarly, there has been an increase in the number of milk banks across the globe. For instance, as per the European Milk Bank Association, there are 280 active milk banks in Europe. Likewise, according to the International Breastfeeding Journal, there were 80 milk banks in India as of 2020. Thus, with the establishment of milk banks globally, the market is anticipated to witness growth during the forecast period.
Furthermore, with the introduction of the COVID-19 vaccine and the lifting of lockdown impositions, the market may witness considerable growth over the forecast period. This can be attributed to the opening of offices globally and the initiation of work from office or hybrid work settings. For instance, Microsoft has given their employees 30 days to shift towards a new pattern of hybrid working setting, which has started from February 2022. Furthermore, many market players are initiating strategies such as product launches, partnerships, collaboration, and awareness campaigns to expand their reach. For instance, various market players such as Medela LLC and Laura & Co. are increasing awareness among the target population by arranging programs and distributing magazines. Thus, the aforementioned factors may help the market grow over the forecast period.
Breastfeeding Accessories Market Insights By Demographics
Asia Pacific dominated the market with a revenue share of over 40.0%. This can be attributed to the presence of a large target audience and increasing awareness campaigns in this region. Moreover, an increase in the birth rate is expected to help the market grow in this region. The Middle East and Africa region are estimated to register the highest CAGR of 6.69% during the forecast period. This can be attributed to the changing lifestyles leading to various diseases.
Industry Share Analysis By Major Companies
The market is highly fragmented with many large and small market players. Competitive rivalry in the market is expected to increase over the forecast period due to the presence of many players in the market. Furthermore, leading players are involved in product launches, mergers & acquisitions, and partnerships to strengthen their product portfolios. Some prominent players in the global breastfeeding accessories market include:
- Medela AG
- Ameda, Inc.
- Willow Innovations, Inc.
- Koninklijke Philips N.V.
- Chiaro Technology Limited
- Pigeon Corporation
- Spectra Baby
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Breastfeeding Accessories Market Segmentation
Grand View Research has segmented the global breastfeeding accessories market on the basis of product and region:
- Breastfeeding Accessories Product Outlook (Revenue, USD Million, 2018 – 2030)
- Breastfeeding Accessories Regional Outlook (Revenue, USD Million, 2018 – 2030)
- List of Key Players in Breastfeeding Accessories Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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