The current market insights for baby products and toys in Indonesia in 2023 reflect both growth and challenges.
IBTE as a large-scale International exhibition that brings direct access the best international manufacturers toys, baby & maternity, stationary, leisure & amusement products and home products. With the steady growth in the economy sector Indonesia surely still the main profitable market in South East Asia, toys and baby products market will have a huge space for development in Indonesia.
As of 2023, Indonesia continues to maintain a stable economic growth rate of 5.31 percent year on year, solidifying its position as a key trading hub within the ASEAN countries. The nation’s population is estimated to have reached 275.50 million, securing its rank as the fourth most populous country globally, following China, India, and the United States. The annual birth rate remains significant at 5.5 million newborn infants, creating substantial opportunities and high demand for toys and baby products. To put this in perspective, this annual birth rate is equivalent to the entire population of Singapore.
The primary driver behind this growth remains the youthful demographic, with nearly 60 percent of the population below 30 years of age. The young population not only continues to expand but is also rapidly urbanizing, solidifying Indonesia’s position as one of the fastest-growing consumer markets in the world. These demographic dynamics underscore the immense potential for the baby products and toys market in the country in 2023.
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