Drive the growth of the Diaper Market

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posted on 9 months ago — updated on 1 second ago

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The global Diaper Market is estimated to be valued at US$ 93.4 Bn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview: -

Diapers are absorbent garment worn by babies and toddlers and are primarily designed to absorb and contain the excretion from the body like urine or faces. They come in various sizes and designs including cloth diaper, disposable diaper etc. Disposable diapers are widely preferred these days as they are more convenient as compared to cloth diapers and provide better absorption and containment of waste. Diapers play an important role in maintaining hygiene and cleanliness of babies and keep them dry and comfortable.

Market key trends: -

One of the key trends in the diaper market is the rising demand for eco-friendly and sustainable diapers made from natural materials. Manufacturers are focusing on developing biodegradable diapers with plant-based materials to address environmental concerns related to disposable diapers. Another major trend is the increasing preference towards premium and ultra-absorbent diapers among consumers to provide superior hygiene and comfort. Rapid urbanization and increasing working women population also driving the sales of convenient products like disposable diapers. Additionally, growth in birth rates across developing regions is prompting new product launches catering to local needs, thus propelling the overall market growth over the forecast period.

Porter’s Analysis: -

Threat of new entrants: - The threat of new entrants in the diaper market is low. New manufacturers will require high capital investment for technology and research and development. Established players already have strong brand value and distribution channels.
Bargaining power of buyers: - The bargaining power of buyers is high in the diaper market. Buyers have a wide range of options from different brands and product varieties. Brand loyalty is also low which empowers buyers.
Bargaining power of suppliers: - Bargaining power of suppliers is moderate. Major suppliers of raw materials include polymer resin suppliers and non-woven fabric manufacturers. Suppliers don't have pricing power over dominant diaper manufacturers.
Threat of new substitutes: - Threat from substitutes is low. Diapers are an essential item and don't have viable alternatives. Reusable cloth diapers have lower adoption due to inconvenience.
Competitive rivalry: - The competitive rivalry is high among global players. Manufacturers compete on pricing, product quality, advertisement and promotional activities. Global players occupy major market share limiting scope for small players.

Key Takeaways: -

The Global Diaper Market Demand is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period 2023 to 2030, due to increasing birth rates and rising disposable incomes. The market size for 2023 is estimated at US$ 93.4 Bn.

North America dominates the global diaper market, accounting for around 35% share. Factors such as busy lifestyle and higher birth rates are driving demand. Asia Pacific is expected to grow at the fastest pace, led by India and China. Rising middle-class population and growing awareness about hygiene are contributing to market growth in the region.

Key players operating in the diaper market are Svenska Cellulosa AB, DSG International Ltd., First Quality Enterprises, Inc., Kimberly-Clark Corporation, Abena A/S, Attends Healthcare Products, Inc., Unicharm Corporation, Kao Corporation, Ontex Group, Chiaus (Fujian) Industrial Development Co Ltd and others. Leading manufacturers are focusing on product innovation, expanding distribution networks and promotional activities to gain market share.