Child Care Services Market Size, Share & Trends Analysis Report By Delivery Type (Center-based, Home-based), By Region, And Segment Forecasts, 2024 - 2030

Child Care Services Market Size, Share & Trends Analysis Report By Delivery Type (Center-based, Home-based), By Region, And Segment Forecasts, 2024 - 2030

Child Care Services Market Growth & Trends

The global child care services market size is anticipated to reach USD 396.4 billion by 2030 and is anticipated to expand at a CAGR of 4.33% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market's growth can be attributed to the increase in working parents who require childcare services. The rising awareness about the importance of early childhood education has also contributed to the market's growth. As a result, there has been a surge in demand for quality child care services, leading to the expansion of existing child care centers and the establishment of new ones. According to the Australian Government’s Department of Education, approved child care services reached around 14,510 in the second quarter of 2023 from 14,382 in the first quarter of 2023.

Moreover, the increase in women's workforce participation globally is expected to boost the service demand, as working mothers often need reliable and safe child care options. With higher female workforce participation, there will be an increased need for affordable, high-quality child care services to support working families. This is expected to positively impact market growth, as providing access to childcare services helps increase women's labor force participation, which can lead to higher productivity and economic growth. Hence, many government organizations are taking initiatives to promote child care services, contributing to the market’s growth. For instance, in July 2022, the Minister of Families, Children, and Social Development funded two projects through the Early Learning and Child Care Innovation Program in Canada. Through this initiative, the University of British Columbia received around USD 1 million in federal funding for 2 years from April 2022, and the Mothers Matter Centre received around USD 1.7 million for the same duration.

Child Care Services Market Report Highlights

• Center-based segment dominated the delivery type segment with more than 50.0% share in 2023 owing to the growing number of centers globally and growing demand from nuclear families
• Asia Pacific region dominated the market owing to factors such as high enrollment rates in the child care centers, majorly due to the higher working hours, specifically in the women population
• In October 2023, Busy Bees Nurseries Ltd. expanded its footprints in North America by acquiring the Malvern School, a network of 27 child care centers located in Central New Jersey and Southeastern Pennsylvania, U.S.

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