What Is The Value Of The Daycare Sector?

The Child Care Market size in the United States is estimated to be worth $48 billion, with an estimated value of USD 231.85 billion in 2024 and expected to reach USD 305.79 billion by 2029, growing at a CAGR of 5.69 during the forecast period (2024-2029). The U.S. child care market was valued at USD 61.70 billion in 2023 and is expected to surpass around USD 91.2 billion by 2032, growing at a CAGR of 4.20 from 2023 to 2032.

The demand for reliable child care has surged post-pandemic, prompting many centers to upgrade their offerings in response to higher parental expectations. The global child care services market was valued at USD 295.6 billion in 2023 and is expected to grow at a CAGR of 4.33 from 2024 to 2030.

In 2022, the U.S. child care market was valued at USD 60.4 billion, projected to exhibit a compound annual growth rate (CAGR) of 4.18 from 2023 to 2030. The U.S. child care market size was estimated at USD 61.70 billion in 2023 and is expected to surpass around USD 88.22 billion by 2033, growing at a CAGR of 4.3 from 2023 to 2033.

Revenue across the industry is anticipated to grow by 2.9 to £5.9 billion in 2024-35. In April 2024, parents of two-year-olds were able to access 15 hours of childcare. The global childcare market is projected to reach $520 billion by 2025, with China’s childcare market estimated to grow by 12 annually.

In conclusion, the Child Care Market is expected to grow at a CAGR of 5.69 from 2024 to 2030, with the U.S. and global child care services markets experiencing significant growth.

What country has the most expensive childcare?

In 2022, the UK became the most expensive country for childcare globally, leading to the “March of the Mummies” protests. The government has not addressed inflation, and childcare costs are expected to rise by at least 10% in April. On average, a childcare place costs £14, 000 a year, with an expected increase of £1, 000 a year. Pregnant Then Screwed founder Joeli Brearley warns of further inflation.

What country spends the most on childcare?

The US spends 0. 4 of its GDP on early education and childcare, compared to 0. 8 for the average OECD country. Iceland spends more than the US, at about 1. 7 of the country’s GDP. A 2021 New York Times analysis found that the US spends roughly $500 a year per child on early childhood care, compared to over $14, 000 for the average OECD country. Cindy Lehnhoff, director of the National Child Care Association, said it would take federal government investment to balance childcare spending with other budget priorities. Additional childcare funding could have been provided through the Build Back Better legislation in 2021.

Which country has the most expensive childcare?

The United Kingdom is the most expensive country in which to provide childcare for couples whose income is 67% of the average wage, with the Czech Republic and Cyprus also ranking highly in this regard. For couples whose income is at the minimum wage level, it is the second most expensive country in this regard. The Nordic countries are regarded as exemplars in the global context of childcare provision.

How much is the childcare industry worth in the UK?

In 2023, the child day-care centers industry in the United Kingdom had a revenue of £5. 7 billion, representing a 10% growth rate. The growth rate of 3% indicates a significant expansion in the sector.

How big is the childcare industry in the US?

The Child Care Market size was estimated at USD 218. 66 billion in 2023, with historical data from 2019, 2020, 2021, 2022, and 2023. The report forecasts the market size for 2024, 2025, 2026, 2027, 2028, and 2029. Mordor Intelligence™ Industry Reports provides statistics on the 2024 Child Care market share, size, and revenue growth rate. The analysis includes a market forecast outlook for 2024 to 2029 and historical overview. A sample of the report is available for free download.

What is the largest expense of childcare?

The Economic Policy Institute has ranked California, Minnesota, Connecticut, New York, Maryland, Colorado, Washington, and Virginia as the top 10 states with the highest child care expenses for preschool, infant care, and day care. The rising cost of child care services has led to many working parents questioning whether to continue paying, adjust work schedules, or leave the workforce. The Census Bureau’s County Business Patterns show a drop in child care service businesses from 2020 to 2021, and government subsidies like the Credit for Child and Dependent Care have continued to rise.

Where is the most expensive childcare in the world?

In 2022, the UK became the most expensive country for childcare globally, leading to the “March of the Mummies” protests. The government has not addressed inflation, and childcare costs are expected to rise by at least 10% in April. On average, a childcare place costs £14, 000 a year, with an expected increase of £1, 000 a year. Pregnant Then Screwed founder Joeli Brearley warns of further inflation.

Which European country has the best childcare?

Sweden is a top-ranked country for raising children due to its strong social policy, generous parental leave system, and universal healthcare system. Parents are entitled to 480 days of paid parental leave, with 60 reserved for fathers. Denmark offers a universal healthcare system with mostly free medical care and free higher education. Denmark also provides a monthly allowance for parents per child and allows adults to reduce working hours until their children turn eight.

Denmark’s parental leave system is among the most flexible in the EU, with both mothers and fathers entitled to 23 weeks of parental leave and four weeks of maternity leave before the expected due date. Australia is also considered one of the best countries for raising children due to its emphasis on health, integration, and quality of life.

Who has the best childcare in the world?

UNICEF has revealed that many of the world’s wealthiest countries lack affordable, quality childcare. Luxembourg, Iceland, Sweden, Norway, and Germany are the top countries in terms of childcare provisions, while Slovakia, the United States, Cyprus, Switzerland, and Australia rank lowest. The report, published by UNICEF’s Office of Research – Innocenti, ranks countries across the Organisation for Economic Co-operation and Development (OECD) and the European Union (EU) based on their national childcare and parental leave policies.

The report emphasizes the need for government investment in family-friendly policies, including childcare, to ensure parents have the necessary time, resources, and services to support their children at every stage of their development.

Which country in Europe has the best childcare?

UNICEF has revealed that many of the world’s wealthiest countries lack affordable, quality childcare. Luxembourg, Iceland, Sweden, Norway, and Germany are the top countries in terms of childcare provisions, while Slovakia, the United States, Cyprus, Switzerland, and Australia rank lowest. The report, published by UNICEF’s Office of Research – Innocenti, ranks countries across the Organisation for Economic Co-operation and Development (OECD) and the European Union (EU) based on their national childcare and parental leave policies.

The report emphasizes the need for government investment in family-friendly policies, including childcare, to ensure parents have the necessary time, resources, and services to support their children at every stage of their development.

Which country has the most expensive childcare in the world?

In 2022, the UK became the most expensive country for childcare globally, leading to the “March of the Mummies” protests. The government has not addressed inflation, and childcare costs are expected to rise by at least 10% in April. On average, a childcare place costs £14, 000 a year, with an expected increase of £1, 000 a year. Pregnant Then Screwed founder Joeli Brearley warns of further inflation.