Child Care Market Size (2024 - 2029)

Child Care Market Analysis

The Child Care Market size is estimated at USD 231.85 billion in 2024, and is expected to reach USD 305.79 billion by 2029, growing at a CAGR of 5.69% during the forecast period (2024-2029).

Factors such as the increasing number of single parents, rising demand for early childcare education, growing adoption of new learning technologies, and increasing onsite care facilities are expected to boost market growth over the forecast period.

The number of single-parent families is rising globally, increasing the demand for daycare or other childcare services for their early education and well-being owing to the difficulty in providing the required attention to the kids. This is expected to fuel the market growth over the forecast period. According to the 2022 statistics published by the United States CBS, about 57% of millennial children were born to unmarried mothers, and 15 million single-mother families were reported in the United States in the same year.

Adopting innovative techniques and tools to educate children has increased the demand for childcare services and centers, bolstering market growth. In February 2023, under the New Education Policy (NEP), childcare centers launched an activity-based learning tool, Jaadui Pitara, that allows kids to study while playing.

The rising initiatives to promote onsite childcare services and centers are expected to increase market growth over the forecast period. For instance, in August 2022, the state government of Kerala launched its new project, 'Workplace Child Care Center,' a creche in the Public Service Commission (PSC) office, to promote breastfeeding and normalize it in public spaces.

Therefore, the market is expected to grow over the forecast period due to factors such as the rising number of single-parent families, the adoption of new learning tools, and the increasing launches of onsite childcare centers. However, the high cost of childcare services and the lack of service providers are likely to impede the market's growth over the forecast period.

Child Care Industry Segmentation

As per the report's scope, child care is the caring and monitoring a child or multiple children whose ages span from two weeks to 18 years. Early childhood or elementary education may be provided as part of child care in sophisticated learning environments. Professional caregivers provide care in either a center-based setting (such as daycare centers, preschools, and schools) or at homes (nannies or family daycare).

The child care market is segmented by type, delivery type, and geography. By type, the market is sub-segmented into early care, early education, daycare, backup care, and other types. By delivery type, the market is sub-segmented into organized care facilities and home-based settings. By geography, the market is sub-segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across significant regions globally. The report offers the value (USD) for all the above segments.