ID: MRFR/CR/6645-HCR | 111 Pages | Published By Snehal Singh on March 2023
Baby Safety Seats Market is expected to register a CAGR of 5.60% from 2021 to 2027 and reach USD 7.60 billion by the end of 2027.
Global Baby Safety Seats Market is expected to register a CAGR of 5.60% from 2020-2030 and reach USD 7.60 billion by the end of 2030. Baby safety seats are safeguarding seats for infants who are specially designed to protect them from risks related to traveling. While carrying a baby in a vehicle, there are many chances of risk factors such as accidents, car crashes, collisions and other mishaps. The rising concern of the parents to protect their baby from such issues is boosting up the development of the Baby Safety Seats Market. The market is purely based on providing baby safety seats, and these products are made with advanced features for the protection of the infant.
The Baby Safety Seats Market Growth will attain significant growth due to the need to ensure a safe and protective environment for infants, especially while traveling. The key players are working on feature upgradation and other innovative solutions to meet the customer's needs. They are improving the product quality and other necessary aids to meet the safety requirements. The players' efforts will drive the Market Trends at the global level.
Many growth factors are accelerating the market's demand. The increased number of children's accidents is one of the major factors driving the market. The rise in awareness among the people related to road safety and the government's strict laws imposed for public safety, along with the growing concern among the parents, is fueling up the market.
The initiatives undertaken by government agencies and other non-profit organizations that are spreading awareness on child safety are elevating the Baby Safety Seats Market Outlook. The key players' planned strategies to collaborate with the automobile service providers to advance the supply of baby safety seats are setting wide opportunities for the market.
The pandemic period was a challenging situation for the Market due to the strict lockdown rules. The market faced tough conditions when the supply of raw materials was halted for a longer period due to travel restrictions. The manufacturing and other industrial units halted their operational activities till the unlock period, which affected the production rate and resulted in a downfall in the growth graph. The products couldn't reach the customers in time, further disrupting the supply chain process.
Noticing the pandemic loss, the key players are trying to recover the loss by implementing new strategies and plans and overcoming the challenging factors. Future product development and improvements are made to stabilize the market's growth. Further, the market is estimated to grow at a significant growth rate.
Chief Factors Existing In The Market
Key Market Drivers
The major drivers of the market are the reasons for driving the Baby Safety Seats Market at a higher pace. The increase in the number of accidents or road car crashes in different regions is one of the major driving factors. This factor influences the parents to opt for the products for their infant's safety. Therefore, the rising awareness among the parents is another primary driver of the market.
The challenging factors are affecting the growth rate of the market. The lack of awareness among the public is a major challenging factor. The COVID-19 pandemic was also difficult for the market, which hampered its growth. But the industrial players are checking these factors to overcome the issues.
The Baby Safety Seats Market is receiving wide opportunities due to its huge demand among the public. The launch of innovative products by the key players is accelerating the market's demand. The collaboration of key players with the automobile service providers for supplying baby safety seats along with e-commerce channels is propelling the growth speed of the market.
The restraints of the market are hindering its growth and acting as an obstacle while attaining the growth value. The expensive charges of the safety seats reduce the demand among the customers, affecting its growth.
Cumulative Evaluation Of The Market
The evaluated summary of the Baby Safety Seats Market Analysis gives a view on the overview of the market. The growth factors and increased market demand due to the key player's developments are accelerating the market. The existing factors, such as the drivers and opportunities, are helping the market to reach its value. Other factors such as restraining and challenging factors limit its growth due to their features based on negative factors. The key players highly focus on these to ensure the market reaches its estimated value efficiently. Therefore, the market is estimated to successfully reach its CAGR during the forecast period.
The Baby Safety Seats Market is segmented into two major segments: type and distribution channel. These types are further sub-segmented into different segments.
The Baby Safety Seats Market type segment is classified into infant seats, combination seats, booster seats, and others.
By Distribution Channel
The distribution channel of the market is categorized into store-based and non-store-based. The store-based is further classified into supermarkets and hypermarkets, specialty stores and others. Through these channels, the products reach the customers.
According to the geographical status, the Baby Safety Seats Market covers major continents worldwide such as North America, the Asia Pacific regions, Europe and the rest of the world.
North America is considered the dominating market continent due to the increase in concern among the parents for providing benefits and importance of their baby. The government of prominent countries such as the US and Canada made it mandatory that parents use the baby safety seats as a safeguard. These factors are propelling the market of this region.
The Asia Pacific region is predicted to attain the highest CAGR rate during the forecast period due to the growing demand for baby safety seats in major developing countries such as India and China. The higher per capita disposable incomes in these regions are driving the market.
Europe is holding a significant share of the Baby Safety Seats Market Share, and it is expected to continue its consistent growth during the evaluation period. The region is noticing sheer growth due to the high investment in research and development activities, leading to more developments of the products.
The other regions of the world are also estimated to maintain a stable growth due to the concern and rising awareness among the parents for safeguarding their infants.
Competitive Intensity Within The Industry
The key players of the Baby Safety Seats Market are helping the market to emerge at the global level. The players plan the future developments and other necessary improvements to meet the customer's demand. The presence of industrial players in various regions is accelerating the global Baby Safety Seats Market Size. Here is the name of the major players in the market.
Recent Market Developments
According to the recent report, the Directorate General of Civil Aviation (DGCA) has announced an advisory to all airlines for installing child restraint systems (CRS) to protect and restrain infants, which followed the recommendations of a sub-committee form after the 2020 Air India Express accident in Kozhikode. These devices are secured using aircraft seat belts which will secure the infant in the aircraft seat. The DGCA also stated that efficient usage of these devices is one of the most basic and important factors to survive an accident.
The analyzed report of the Baby Safety Seats Market Forecast states about the market's growth based on its demand since the past years. The pandemic loss and recovery were both discussed in the report. The dynamic factors and their effects on the market were briefly explained. The segmentation analysis shows the major segments and their further sub-segments. The regional report gives a complete view of the geographical regions of the Baby Safety Seats Market. The crucial role of the industrial players and their developments are driving the market at the global level. The recent developments are fueling the market's demand. Therefore, all the positive factors will help the market reach a good compound annual growth rate during the review period.
Key Industrial Segments
By Distribution Channel
North America is the dominating region of the Baby Safety Seats Market.
The major segments of the Baby Safety Seats Market are type and distribution channels.
The Baby Safety Seats Market'sintended audience are manufacturers, traders and distributors, raw material suppliers, investors, and research and development institutes.
The sub-segments of the distribution channel are supermarkets and hypermarkets, specialty stores and others.