According to a Statista report, the size of the Indian preschool and childcare market was 3.8 billion U.S. dollars in 2022 and is set to across $7 billion in 2028, marking a rapid growth through the years.
FACTORS DRIVING THE RAPID GROWTH IN PRE-SCHOOL INDUSTRY
1 Changing Family Systems: With the family structure marking a noticeable shift from joint family system to nuclear set-ups, husband and wife have their hands full with professional commitments and running the household. This creates a need for early involvement of a formal structure to take care of the child and nurture the youngling in the initial years.
2 The Rise Of The Working Mother: With more and more women joining back or continuing in the work force even after child birth, the new moms are constantly on the lookout for safe, secure and nurturing environment for their child in their absence.
3 Rising Disposable Income: With per capita income increasing, especially in the metropolitan cities and urban areas, parents don't want to compromise on the quality of early education for their child. Hence, the rise of new and innovative methodologies that have found their space in pre-school arena.
4 Rising Awareness: With parents today being well aware about the child's growth patterns (Scientific studies prove that 90% of the child's brain is developed by the age of 6) and facilities and pedagogies available on the global platform, there is a growing demand for these amenities to be made available and entrepreneurs are responding quickly to it. The demand for better early education is on a rise across geographical demarcation of metros, tier I to tier IV towns as well.
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