Child Care Market Regional Analysis:
North American Market Insights
North America industry is anticipated to account for largest revenue share of 44% by 2035, influenced by rapid urbanization in the region.. The market growth in the region is also expected on account of the position of women in the current society that has developed in the past few decades such that today many women are part of the working force thus, there is a need to have suitable and cheap childcare centers in North America. With the rising employment of women, the demand for quality professional child care services also grows high as well. Youths in North America are also progressively becoming parents and are also starting families creating a drive to the child care market. Parents themselves are from this generation that includes millennials and they prefer looking for centers that offer quality childcare services.
As a result of improving household income among families in the United States, parents can be able to afford the reasonable prices that are charged for childcare. In a survey done in 2022, there is a total of 22.9 million children below the age of five years living in the United States, while 71% of children of age 5 and below are raised in a family where both parents work. This can allow a higher number of parents to opt professional child care option. At present, the state and the local governments in the United States give measures, strategies, plans, and funding for the support of the market and services that are easily accessible and inexpensive to young children.
APAC Market Insights
The Asia Pacific region will also encounter huge growth for the child care market during the forecast period and will hold the second position owing to a big and growing population, which is increasing the demand for childcare services. Rapid urbanization in the region, notably in India, is increasing the demand for high-quality, specialized childcare solutions for urban households with higher disposable budgets. Changing lifestyles, including more working parents and dual-income homes, are increasing the demand for quick and trustworthy childcare solutions. Increased health and safety concerns among parents in Asia Pacific have resulted in a desire for child care services. In addition, the child care providers in the region are implementing healthcare quality management and making children more productive with their interesting curriculum, which is fueling child care market growth.
China implemented the three births for two child policy and rewards parents who give birth to more children. Parents today in China have now been empowered by the middle class that is growing in the country thereby leading to increased disposable income and this have seen parents especially the middle income spend more on premium and luxury childcare items and services. Due to the rising number of working women in China coupled with young and vibrant families, most especially in the metropolitan, there is always the need to seek for childcare services.
