Foresight Seminar of Kazakhstan's Children, Babies, Maternity Industries
With growing economic affluence and raising public awareness of health and hygiene in Kazakhstan, there is a rising demand for quality children, baby care, and maternity products. As one of the top collaborators in the Belt and Road Initiatives, this emerging market has offered golden opportunities for Hong Kong manufacturers and traders of these products.
Kazakhstan is the most advanced economy in Central Asia and one of the key emerging markets for children, baby and maternity products. The value of imported children goods, including food, toys, training items, footwear, clothing products, has reached US$200 million.
According to the statistics from Euromonitor International, the number of infants and children in Kazakhstan has been increasing. In 2016, the growth rate for population aged 0-11 years stood at 4%. Also, given the continued presence of drivers like higher oil prices, better farmland utilisation and higher agricultural labour productivity, expectation is that Kazakhstan’s economy will continue to accelerate. The report also indicated that baby and child-specific personal care product market had recorded an average compound annual growth rate of 14.1% in the past. The total market size of baby and child specific products also climbed from 2,786.9 million Kazakhstan Tenge (i.e. USD$8.4 million) in 2007 to 5,380.9 million Kazakhstan Tenge (i.e. USD$16.3 million).
The market expected Kazakhstan to recover from economic downturn, and its middle class continue to grow to account for nearly one fifth of its total population. These trends generate great spending power. According to IndexMundi report, the purchasing power parity of Kazakhstan in 2017 was $474.3 billion, which indicated a high buying power as well as a satisfying living standard. The baby and child products are to be benefit with the people becoming more willing to pay more for imported goods which are of high quality, high hygiene standard, and from trustworthy markets.
Moreover, the control over imported food products, including baby food, is relatively weak in Kazakhstan. With stringent Quality Management System implemented by Hong Kong baby food manufacturers, trust-worthy and high quality baby food would be a huge advantage for Hong Kong brands to enter into the market. Under such circumstances, this market will be a golden opportunity for HK SMEs to capture this golden market.
In light of this, Hong Kong Children, Babies, Maternity Industries Association Limited is working with Hong Kong Productivity Council to organise “Foresight Seminar of Kazakhstan's Children, Babies, Maternity Industries” on 25 August 2021. With growing economic affluence and raising public awareness of health and hygiene in Kazakhstan, there is a rising demand for quality children, baby care, and maternity products. As one of the top collaborators in the Belt and Road Initiatives, this emerging market has offered golden opportunities for manufacturers and traders of these products in Hong Kong. To provide practical guidance of how Hong Kong practitioners should understand and access in this high potential growing market, the experts are invited to participate in the seminar and introduce the overall market situation of the children, baby care, and maternity products in Kazakhstan, the preference of local consumers there, and the experience sharing to build up the business in the country.