Watch carefully: Students learning to look after babies by using baby dolls as they take part in a nursing skills class for confinement carers, at Yipeitong training centre in Shanghai. — Reuters
BEIJING: China’s maternal and infant care market is expected to embrace rapid development, thanks to the rising consumption power of new parents.
According to a report from Guosen Securities, in 2020, the growth rate of China’s overall maternal and infant care market was 16.9%. In 2021, the growth rate stayed at 16.9%, indicating that the market is enjoying stable sales performance.
Data from Shanghai Ourui Supply Chain Management Co Ltd showed that in 2021, China’s maternal and infant care market was valued at 32 billion yuan (US$4.6bil or RM21bil), and is expected to reach over 50 billion yuan (RM32.5bil) by 2025.
“The post-’90s generation has become the backbone of maternal and infant consumption.
“Compared to the loving child care provided by their parents and grandparents, young new parents embody the characteristics of meticulous childcare, and their corresponding needs are also increasing,” said Zhang Xiaojun, founder and chief executive officer of domestic maternal and infant care brand Dexter.
Population shifts and economic development are also laying a solid foundation for the development of the market. Data from the National Bureau of Statistics showed that currently, the number of infants between zero and six years old stood at 140 million, thus generating huge demand.
In 2021, China’s average per capita disposable income reached 35,128 yuan (RM22,810), surging 78% in 10 years.
Data from Beijing-based research firm huaon.com showed that currently, China’s overall maternal and infant care market was divided equally between domestic and international brands.
In 2016, among the top 15 maternal and infant care brands sold in China, domestic brands took up 18% of the market share. In 2020, the ratio had risen to 20%. Experts noted that the rise of domestic brands was related to changing tastes. — China Daily/ANN
