Top Emerging Trends Of Breastfeeding Accessories Market Progress Forecast 2030 |Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on July 25th, 2022 The global breastfeeding accessories market size is expected to reach USD 3.90 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.45% from 2022 to 2030. An increasing women’s employment rate is expected to surge the demand for breastfeeding accessories, thereby propelling the market growth. For instance, according to the data from the World Bank and the International Labor Organization, 55% of women in the U.S. are employed, whereas this number increases in the U.K. with 59% women employability. Working women are more likely to purchase breastfeeding accessories, thus, with a surge in the women’s employment rate, the market is expected to grow over the forecast period. Moreover, there has been a rise in the global birth rate. For instance, as per the latest report by the International Institute of Sustainable Development (IISD), the global fertility rate has touched 2.3 births per woman, which is well above the replacement rate. Similarly, there has been an increase in the number of milk banks across the globe. For instance, as per the European Milk Bank Association, there are 280 active milk banks in Europe. Likewise, according to the International Breastfeeding Journal, there were 80 milk banks in India as of 2020. Thus, with the establishment of milk banks globally, the market is anticipated to witness growth during the forecast period. Furthermore, with the introduction of the COVID-19 vaccine and the lifting of lockdown impositions, the market may witness considerable growth over the forecast period. This can be attributed to the opening of offices globally and the initiation of work from office or hybrid work settings. For instance, Microsoft has given their employees 30 days to shift towards a new pattern of hybrid working setting, which has started from February 2022. Furthermore, many market players are initiating strategies such as product launches, partnerships, collaboration, and awareness campaigns to expand their reach. For instance, various market players such as Medela LLC and Laura & Co. are increasing awareness among the target population by arranging programs and distributing magazines. Thus, the aforementioned factors may help the market grow over the forecast period. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/breastfeeding-accessories-market/request/rs1 The demand for breastfeeding accessories is increasing owing to a rise in the global women’s employment rate. Furthermore, an increase in awareness campaigns by government and market players regarding the availability of breastfeeding accessories is anticipated to impel the market growth during the forecast period. For instance, various market players such as Medela LLC, Laura & Co., Newell Brands, and Ameda, along with universities including Washington University and Fudan University are raising awareness among women regarding breastfeeding and its benefits by arranging campaigns and providing informative magazines. In addition, social media platforms such as YouTube, Facebook, and Instagram have enabled individuals to access information about breastfeeding and related accessories. Breastfeeding Accessories Market Report Highlights
Similarly, an increasing number of milk banks around the globe is predicted to propel market growth further. Due to the high demand for breast milk storage, the number of milk banks is increasing. Milk banks are beneficial for mothers and are considered a progressive initiative. If the mother is infected and there is a risk of disease transmission, the mother is unable to lactate, or the baby is orphaned, milk banks can offer major advantages. Thus, an increase in the number of milk banks may increase the use of breastfeeding accessories, thereby driving the market over the forecast period. Moreover, the presence of favorable demographics such as the growing global birth rate in emerging and underdeveloped nations provides opportunities for the market players to expand their presence in these countries. For instance, as per the Centers for Disease Control and Prevention, the birth rate in the U.S. has reached 11 per 1,000 population, with a fertility rate of 56.0 births per 1,000 women (aged 15 – 44). The increase in the number of births is anticipated to increase the use of breastfeeding accessories, thereby boosting the market growth over the forecast period. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/3722/ibb Even though COVID-19 had an adverse impact on the market, the use of breastfeeding accessories is expected to increase during the post-pandemic period. The COVID-19 vaccine has been introduced globally, as a result, countries have opened their international borders, due to which the supply chain is expected to normalize during the post-pandemic period. Furthermore, the birth rate is expected to increase post-pandemic. For instance, researchers at the University of Michigan predict an increase in the number of births post-pandemic. Hence, the market is expected to witness a gradual surge in demand for breastfeeding accessories. List of Key Players in Breastfeeding Accessories Market
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