According to a report added to Radiant Insights Inc., the preschool or childcare market in China is anticipated to exhibit a remarkable CAGR of 14.01% between 2017 and 2021. Women form a substantial share in the total population as well as the labor force in China. Increasing job opportunities in tier 1 and tier 2 cities are impelling women to shift from rural areas. Moreover, conducive policies and conditions in the public sector are encouraging mothers to work. Therefore, rising number of working women in the country is likely to stoke the growth of the market.
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Rising competition among students to secure admissions in premium schools is prompting parents to focus on providing quality education to their children from an early stage. International playschools and daycare centers are gaining accreditations worldwide, which in turn is expected to encourage parents in China to enroll their children in these schools. In addition, growing number of international schools and kindergartens in the country can work in favor of the market. For instance, earlier in 2017, the Department of International Trade (DIT) initiated the GREAT Early Years Education mission in China. With the outstanding expertise of UK-based nurseries and nursery training providers, children will be able to experience various activities, which will eventually help them build a better personality.
With rising prominence of English in China’s educational curriculum, a large number of preschool education centers are including the language in their lesson plans. This, in turn, can positively influence the market. Besides this, increasing funding by the government in preschool education is projected to provide a fillip to the market.
Rising disposable income and rapid urbanization are leading to improvement in living standards of the populace. As a result, they are allocating a considerable budget on cultural activities and high-quality education of their children. Increasing educational expense in Chinese households is estimated to help the market gain phenomenal momentum. On the other hand, high cost required to construct well-equipped preschools subsequently leads to high fee, which in turn is adversely affecting the growth of the market. Nevertheless, growing investments in the education sector in China can shape the future of the market.
The preschool or childcare market in China has been divided on the basis of age group, ownership, and services. By age group, the Child day care market has been bifurcated into children aged below three years and children aged between three and six years. In terms of ownership, the market has been classified into private and public. The private preschool or childcare segment will account for a large share in the market. Based on services, the preschool market has been categorized into full-time preschools and on-demand preschools. The full-time preschools segment will be the key revenue contributor in the market throughout the forecast period (2017–2021).
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Rising disposable income and booming education sector in China are promoting market players to invest hefty sums in the childcare market . Key companies are focusing on the quality of curriculum to stand out in the arena. Some of the prominent players are Yew Chung International School of Shanghai, Golden Apple Education Group, Montessori School of Shanghai, Rainbow Bridge International School - Hong Qiao International School (RBIS-HQIS), and Shanghai American School.
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