Maternity & Personal Care Market to Reach $106.5 Billion, Globally, by 2031 at 6.5% CAGR: Allied Market Research
The increase in the prevalence of health related and personal care issues among people, and the growing number of working women and their increasing demand for comfortable maternity apparel and personal care items drive the global maternity & personal care market.
, /PRNewswire/ — Allied Market Research published a report, titled, “Maternity & Personal Care Market by Product Category (Skin Care, Hair Care, Oral Care, Cosmetics, Others), by End user (Male, Female, Children and Infants), by Maternal Apparel (Day Wear, Night Wear, Innerwear), by Personal Care (Stretch Marks Minimizer, Body Restructuring Gels, Itching Prevention Creams, Skin Toning Creams, Others), by Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031” According to the report, the global maternity & personal care industry was valued at $58.1 billion in 2021 and is estimated to generate $106.5 billion by 2031, witnessing a CAGR of 6.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Drivers, Restraints, and Opportunities
The increase in the prevalence of health related and personal care issues among people, such as hair loss, skin allergies, oral disorders, and others and the growing number of working women and their growing demand for comfortable maternity apparel and personal care items such as vitamins, creams, oils, and lotions drive the maternity & personal care market. However, a lack of awareness among many consumers regarding their skin and body type and high cost of organic personal care products are likely to hinder the market growth in the forecast period. On the other hand, a rise in disposable income of consumers and their zeal to try new products in the complete body care sector will present new growth opportunities for the global maternity & personal care market in the coming years.
- The outbreak of the COVID-19 pandemic had a negative impact on the maternity & personal care market, owing to the disrupted supply chain management of raw materials.
- The pandemic-induced regulations and lockdown made people unable to purchase personal care products from the market, thereby suppressing the market growth.
- In addition, the unavailability of raw materials and labor shortage severely disrupted the manufacturing capability of companies in the market. The companies had to put their R&D activities on hold amid the rising cases of COVID-19 worldwide.
The day wear segment to dominate the market during the forecast period
Based on maternal apparel, the day wear segment contributed to the largest share of more than half of the global maternity & personal care market in 2021 and is expected to maintain its dominance during the forecast period. The same segment is projected to witness the fastest CAGR of 6.8% from 2022 to 2031. This is due to the rising disposable income of consumers, their increasing spending capacity on fashion apparel, and their growing demand for comfortable outfits.
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The stretch marks minimizer segment to grab the lion’s share during the forecast period
Based on personal care, the stretch marks minimizer segment grabbed the highest share of more than one-fourth of the maternity & personal care market in 2021 and is expected to dominate the market in 2031. The same segment would witness the fastest CAGR of 7.0% from 2022 to 2031. This is due to the growing demand for boosting skin elasticity and fair complexion among females. Moreover, the rise in spending on skin care products by the female population is fueling the market growth.
The skin care segment to maintain its leadership during the forecast period
Based on product category, the skin care segment grabbed the highest share of nearly one-third of the overall maternity & personal care market in 2021 and is expected to dominate the market during the forecast period. The same segment is projected to witness the fastest CAGR of 7.0% from 2022 to 2031. This is because millennials and GenZ population tend to spend more on beauty and skincare essentials. Also, the growing e-commerce, social media platforms, and blogs to promote new skincare brands are together responsible for the market growth.
Asia-Pacific to achieve the largest revenue by 2031
Based on region, the market in Asia-Pacific was the largest in 2021, accounting for more than two-fifths of the global maternity & personal care market and is likely to maintain its dominance during the forecast timeframe. This is owing to the rising consumer spending on beauty and personal care products and an increase in the penetration of beauty products in this region. However, the market in North America is likely to show the fastest CAGR of 7.2% during the forecast period. This is due to the increasing product penetration, an increase in marketing initiatives, and rising per capita expenditure in the region.
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Leading Market Players:
- Edgewell Personal Care
- Jubiliant Ingrevea
- Kaya Ltd.
- Unilever plc
- Proctor & Gamble Co.
- Johnson & Johnson
- Mama Mio Inc.
- Destination Maternity Corporation
The report analyzes these key players of the global maternity & personal care market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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SOURCE Allied Market Research