Tara Olivo, Associate Editor01.03.20
Despite high market penetration and stagnant growth for baby diapers in developed regions like the U.S. and Western Europe, developing regions, specifically Asia and Africa, are predicted to deliver strong growth opportunities for baby diaper manufacturers in the future.
According to figures from Euromonitor International, the value of the global baby diaper market in 2019 was $43.38 billion (real terms, 2019 fixed exchange rate), and it is expected to witness modest growth over the next five years, with a compound annual growth rate (CAGR) of 3.5% to reach an estimated $51.53 billion by 2024.
Regionally, the fastest growing markets are now found mainly in Asia and Africa, according to Svetlana Uduslivaia, head of Home & Tech Americas at Euromonitor. The CAGRs for the two most populated countries in the world, China and India, will be 7.4% and 14.8%, respectively, through 2024. Indonesia, Thailand and Vietnam are expected to be the fastest growing markets for baby diapers in
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