Market Trends of Pregnancy Products Industry
The Stretch Mark Minimizer Segment is Expected to Register Robust Growth Over the Forecast Period
Stretch marks are tiny tears and scars in the supporting layers of tissue under the skin. They are quite common during and after pregnancy and occur in 90% of pregnant women. The growing awareness regarding stretch mark treatment products and high adoption of the same is anticipated to fuel the market growth.
The market for stretch mark minimizers is anticipated to experience huge growth during the forecast period, owing to the rise in the number of pregnancies in developed and developing countries. According to a report released on October 2021 by the United Nations Office for Sexual and Reproductive Health, the number of people born in 2021 was estimated to be around 140 million globally. This data indicates the high number of pregnancies during 2021. Because stretch marks are associated with gestational changes that affect between 50%-90% of women, depending on the race and age of the population, many women develop stretch marks during their first pregnancy. Hence, an increase in the number of pregnant women further propels the stretchmark minimizer market.
The increasing number of approvals by companies also helps in boosting the overall market. For instance, in April 2022, Bayer CropScience Limited launched Luciara a moisturizing cream that can prevent the appearance of stretch marks during pregnancy. Similarly, in December 2021, Bio-Oil launched an all-natural version of Iconic Stretch Mark Oil, to help reduce the appearance of stretch marks during and post-pregnancy for mothers. Such product launches are likely to propel segmental growth over the forecast period.
North America is Expected to Retain the Largest Share of the Market Over the Forecast Period
The North American region holds a significant share owing to the increase in unplanned pregnancies, growing awareness regarding pregnancy products, and the presence of key market players.
According to CDC data published in December 2021, around 3.66 million babies were born in 2021, representing a 1% increase from the previous year. This increasing birth rate in the United States and awareness about pregnancy care drive the demand for pregnancy products, thereby boosting the market growth. Similarly, per the data from the Government of Canada published in September 2022, there were around 367,684 births in Canada during the year 2021, an increase of around 2% from the previous year. This rise in births is augmenting the demand for pregnancy products in Canada.
Furthermore, the continuous launch of new products for pregnancy and the presence of key players in the region are other market-driving factors. For instance, In April 2022, the Marena Group announced the launch of its Marena Maternity line of pregnancy and post-pregnancy recovery garments in what will be the company's first product line focused on compression and support wear for new and expecting moms. Additionally, in June 2022, Biotech company Mylab Discovery Solutions entered the women's healthcare segment with the launch of a home pregnancy test kit, PregaScreen.
The rise in disposable incomes in economies like Mexico and Canada, well-established distribution channels, and increasing awareness regarding pregnancy products through strong marketing activities by key players are some of the factors that are contributing significantly to the market growth in the North American region.
