According to international data, the global market value of the baby diaper and baby moisture wipe markets is expected to achieve healthy growth in the next five years, and will grow by 35% by 2023. As GDP per capita reaches and exceeds the index benchmark for product use, the Asian market will experience strong growth. Rising GDP combined with population growth has brought strong business opportunities for our industry.
Where do consumers get information related to the industry of baby diaper and wet towel wipes? Colleagues, friends, family, and medical professionals are the most important sources of information in today's growing IoT environment, especially in Latin America and China.
More traditional information channels such as retail and advertising are not as important as in the past, but retail advertising is still healthy in the United States, and advertising is still important in India. The parenting groups with growing influence represent a growing platform of word of mouth. In India, 75% of the parents interviewed stated that they participated in a parenting group.
The same is true where consumers buy eco-friendly diapers and moisture wipes. No single channel dominates. Supermarkets and large shopping malls are the preferred destinations for baby care products, but in the past five years, Internet retail has grown faster than all other channels. A new part of the online shopping environment is subscription services. Nearly one-third of parents worldwide subscribe to the regular delivery service of diapers and moisture wipe.
What features do consumers look for in baby diaper and moisture wipe products? The main drivers of selling global baby diapers include leakproofness, absorption, comfort, and dryness. Most of these functions are related to skin health. The main drivers of moisture wipe globally are not so easy to generalize. There are more regional differences in the important characteristics of moisture wipes. In some countries and regions, characteristics such as softness or strength are more important, indicating that a regional product line strategy is most effective for the moisture wipe industry.
By 2023, the market for diaper bulk purchase and baby moisture wipe is expected to reach a market value of US$70.1 billion. Focusing on markets with huge growth potential, maximizing cross-channel influence and paying close attention to the features consumers are looking for are all good ways to predict and achieve business growth. The future of online sales is particularly exciting and will surely shake the market, even if it is still a long way to go to surpass grocery stores. In general, only one thing is certain: the possibilities and opportunities are endless.