The new private label brands, meticulously crafted with a focus on superior quality, are set to meet and surpass the evolving needs of consumers. The new improved quality brand of Mother's Touch comes with a pearl pattern spun bond, a non-woven top sheet, a 3-liner wetness indicator, and a 3D leak guard, among other user-friendly features. These brands will be available through Bemax's expansive distribution network, ensuring widespread availability and accessibility, the company said in a press release.
Bemax is strategically positioning itself to take maximum advantage of the ongoing growth in the diaper industry. The company has been experiencing substantial growth, with an expected year-over-year increase of over 70 per cent, as announced in a prior press release. This growth is driven by the company's strategic focus on innovation, quality, and expanding its product offerings to meet the dynamic needs of consumers.
According to industry reports, the diaper market has registered a CAGR of 5.64 per cent during the forecast period (2024-2032). In terms of revenue, the global diaper market was estimated at roughly $64.37 billion in 2023 and is predicted to attain a value of $105.49 billion by 2032. The growth of the diaper market is being propelled by rising birth rates, increasing disposable income, and growing awareness of hygiene.
The disposable diapers segment, in particular, is growing at a high rate and is projected to dominate the global market. Online sales have also surged, capturing about 30 per cent of the market in some regions, reflecting changing consumer buying habits.
The North America diaper market size reached $75.4 billion in 2023. Looking forward, IMARC Group expects the market to reach $91.4 billion by 2032, exhibiting a growth rate of 2.1 per cent during 2024-2032. North America, particularly the United States, is a mature market characterised by high product penetration and advanced consumer preferences towards eco-friendly and premium products.
"We are excited about the future of the diaper market and the opportunities it presents. The increasing demand for biodegradable and eco-friendly products aligns perfectly with our commitment to sustainability. Additionally, the growth in emerging markets and the expanding adult diaper segment offer significant potential for us to broaden our product lines and drive new revenue streams," said Taiwo Aimasiko, CEO of Bemax Inc.
Fibre2Fashion News Desk (RR)