Declining Birth Rates Drive Changes in Family Demand
Fertility and birth rates are declining globally, undermining baby and infant market growth potential. With around 140 million babies being born each year, the market for child-related products and services remains huge. The trends towards fewer children and smaller households are also shifting family needs, creating new demand and many opportunities for businesses. Backed by rising income, parents nowadays are willing to spend more on the fewer children that they have while seeking products and services that help them to simplify their daily lives.