Home > Pressrelease > Breastfeeding Accessories Market size to exceed $2.5 Bn by 2032
Breastfeeding Accessories Market size to exceed $2.5 Bn by 2032
- Published Date: January 16, 2023
Breastfeeding Accessories Market size is expected to be valued at over USD 2.5 billion by 2032, according to a new research report by Global Market Insights Inc.
The demand for breastfeeding accessories is foreseen to rise due to the growing population in emerging economies. The world population is growing at a rate of almost 83 million people per year, and this trend is likely to continue. Additionally, the steadily increasing birthrate and pregnancies in developing nations resulting from the inadequate knowledge of birth control methods are adding to the world's population growth.
Furthermore, reimbursement for breastfeeding accessories is expected to accelerate the market's expansion in developed economies. Additionally, favorable government initiatives and the expanding supply of breastfeeding accessories from insurance companies, such as those covered by the Affordable Care Act (ACA), also known as Obamacare, are likely to fuel industry expansion. Additionally, the booming availability of insurance-covered pumps by a number of businesses is estimated to spur the growth of the breastfeeding accessories market.
Increasing usage during breastfeeding to augment sore nipple cream segment share
The sore nipple cream segment is projected to witness revenue at a 9% CAGR by 2032. Sore nipple creams can help heal cracked and sore nipples as well as soothe sensitive and dry nipples. They also aid in the formation of an additional protective barrier over irritated or sore nipples during pregnancy and breastfeeding. As a result, the growing preference for these creams among mothers with sore nipple issues to avoid discomfort while breastfeeding is anticipated to fuel product demand.
Browse key industry insights spread across 113 pages with 67 market data tables & 19 figures & charts from the report, “Breastfeeding Accessories Market Size by Product (Breast Milk Bottles, Breast Milk Storage Bags, Sore Nipple Cream, Nursing Pads, Cleaning Products, Nipple Shields, Breast Shells), By Application (Personal Use, Hospital Grade), Regional Outlook, Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” In detail along with the table of contents:
Growing number of births in hospital settings to propel hospital grade segment expansion
The hospital grade segment dominated the breastfeeding accessories market with more than 85% industry gains in 2022. A surge in the number of births in hospital settings is speculated to accelerate segment uptake. Furthermore, technological advancements have increased the use of hospital grade breastfeeding accessories to stimulate breast milk expression among mothers, among other benefits. Many women struggle to produce adequate amounts of breast milk for breastfeeding, which is likely to impel product adoption in healthcare facilities by 2032.
Rising healthcare spending to complement North America's market share
The breastfeeding accessories industry in North America garnered a substantial demand of more than 47% in 2022 and is projected to witness significant progress through 2032. The increasing healthcare spending in North America is a major factor contributing to market gains. Moreover, the rising disposable income of the population base, coupled with rapid urbanization, is speculated to propel market revenue in the coming years.
Strategic product developments to define the competitive landscape
The market consists of prominent companies such as Ameda, Inc., Koninklijke Philips N.V., Acute Ideas Co., Ltd., Bailey Medical, Ardo Medical, Inc., Hygeia Medical Group, Medela AG, NUK, Pigeon Corporation, and Mayborn Group Ltd., among others.