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baby stroller market garnered $1.9 billion in 2021, and is estimated to generate $3.4 billion by 2031, manifesting a CAGR of 5.7% from 2022 to 2031
DELAWARE, WILMINGTON, UNITED STATES, August 29, 2024 /EINPresswire / -- According to the report published by Allied Market Research, the global baby stroller market garnered $1.9 billion in 2021, and is estimated to generate $3.4 billion by 2031, manifesting a CAGR of 5.7% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Opportunities That will Shape The Future Baby Stroller
The baby stroller market presents several opportunities for businesses looking to tap into this lucrative industry. Here are some of the key opportunities in the baby stroller market:
Innovation:
There is a constant demand for new and innovative stroller designs and features. Companies can tap into this demand by introducing new and unique strollers with advanced features such as adjustable handles, adjustable seats, and compact designs for easy storage.
E-commerce:
With the rise of e-commerce, there is a growing opportunity for companies to sell baby strollers online. This can be done through company-owned websites or through partnerships with e-commerce platforms such as Amazon, Walmart, and others.
Growing demand in emerging markets:
The demand for baby strollers is increasing in emerging markets such as Asia, Africa, and South America. Companies can tap into this growing market by expanding their distribution channels and offering products that cater to the unique needs of these markets.
Specialized strollers:
There is a growing demand for specialized strollers such as jogging strollers, double strollers, and strollers for disabled children. Companies can tap into this demand by offering a wide range of specialized strollers to meet the diverse needs of consumers.
Sustainable and eco-friendly strollers:
With consumers becoming more conscious of the environment, there is a growing demand for sustainable and eco-friendly baby strollers. Companies can tap into this demand by offering strollers made from environmentally friendly materials and manufacturing processes.
Moreover, factors that are encouraging the baby stroller market Significant factors such as the rise in trend of travel among millennials and baby boomers expand the scope for easy travel with babies, accelerating the market growth rate. The single parent and nuclear families have to cope with multitasking along with taking care of their newborn or toddlers. Another important factor is that parents are willing to spend more for the toddlers. A rise in refurbishment and leasing baby stroller is expected to further propel the market growth. Nuclear families and single parents account for nearly one-third of the share of the baby strollers market. Customers are spending more on prams and strollers as a result of their fast-paced lifestyle, baby-care consciousness, and others. The aforementioned factors are increases the baby stroller market demand.
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Based on age, the 0-6 months segment was the highest contributor to the market and is estimated to reach $1,694.9 million by 2031, at a CAGR of 6.1% during the forecast period. In this age group, parents are comfortable to take their toddlers outside for travel or tours. The baby strolling market considers almost half of revenue from this age group. Parents require a stroller that will come handy with a seat and can face forward or backward as well.
By distribution channel, baby stroller market for specialty store was valued at $896.3 million in 2021, and is projected to reach $1,616.4 million by 2031, registering a CAGR of 6.0% from 2022 to 2031. One of the key factors of a specialty store is its focus on a single class of products. This gives owner and employees a chance to develop experties and a reputation for knowledge and selection within the store.
On the basis of region, North America has the highest baby stroller market share in 2021. It occupied the largest market share of around 34.7% in the global baby stroller market in 2021. The key factors that drive the baby stroller market in North America are change in lifestyle coupled with the rise in single parent and nuclear families. The single parent and nuclear families have to cope with many tasks while taking care of their newborn or toddlers as well.
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.
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Allied Market Research
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