Baby strollers and prams are mediums of transport for babies. The history of baby strollers dates back to the 18th century when it was developed for the Duke of Devonshire’s children. William Kent developed a shell shaped carrier on wheels on which the children could sit down. This was meant to be pulled by a small pony or goat. The basic design and safety features changed over time to result in what we see today. Pram is a short form of perambulator. Prams are usually used to carry infants. However, strollers are used for carrying small children, typically up to three years of age.
The global market for baby strollers and prams is expected to rise at a significant rate over the forecast period. The introduction of new baby strollers and prams with multi-functionality and innovative safety features are likely to fuel the growth of this market in the coming years. Fast-paced lifestyles coupled with the rise in single-parent and nuclear families have forced consumers to opt for better safety as well as convenience for their babies; therefore, they are opting for safe and convenient baby strollers and prams.
High cost of raw materials and scarcity of skilled labor are the primary restraints of the market. However, factors such as the advent of online retailing, in addition to growing birth rate and low child mortality rate, especially in developing countries, is likely to give a positive push to the global baby strollers and pram market. Upsurge in online trade of baby strollers and prams will encourage growth in this market over the forecast period.
The global market for baby strollers and pram can be segmented based on product type, sales channel, and geography. Based on product type, the market can be segmented into compact (prams), buggy (prams), 3-wheeler (strollers), comfort (strollers), and multi-child (strollers). Comfort strollers held the largest share of the market, due to its safety and convenience features. However, 3-wheeler strollers are projected to grow at the maximum rate during the forecast period. On the basis of sales channel, the market can be diversified into chain specialized stores, baby boutique stores, online retailers, and mass market stores. The online retailers segment is expected to grow at a significant rate over the forecast period owing to the convenience that online shopping offers, in addition to rising internet penetration rate over the forecast period.
In terms of geography, the market may be divided into North America, Asia Pacific, Europe, and Middle East and Africa (MEA). Europe held a dominant position in terms of revenue. This is because of factors such as enhancements in product quality as well as increasing demand for convenient and multifunctional baby strollers and prams, in addition to high numbers of early adopters in the region. Asia Pacific is poised to grow at a considerable rate largely due to countries such as China and India, with a sizeable population and increase in disposable income.
Heightened consumer apprehensions concerning the safety of children and a significant rise in per capita income, primarily in developing economies such as Asia Pacific, and Middle East and Africa is encouraging the growth of the overall market in this region, making them attractive in terms of business prospects. Hence, companies across the world are increasingly venturing into these markets to increase their business as well as expand their global market share.
Key players in the market are Dorel Industries Inc., Baby Jogger, Evenflo Company, Chicco, Combi, Concord International, and Graco. Some of the other prominent companies include Mamas and Papas, Baby Trend, Stokke, Brevi, Peg Perego, MeeMee, Britax, UPPAbaby, Bugaboo, Mother Care, Joovy, Thule, Bumbleride, Inglesina, and Orbit Baby.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.