The report covers the detailed analysis of the trends, future estimations, and a thorough study of the global baby diapers market on the basis of product type, size, age group and distribution channel. It analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights Porter’s five forces analysis to determine the factors affecting the market growth. These factors include raw material prices, intense competition, end users, manufacturers, and suppliers. To understand the market, drivers, restraints, and opportunities are explained in the report. Furthermore, it includes revenue generated by the baby diapers market from the sales of diapers across North America, Europe, Asia-Pacific, and LAMEA.

国内港口木浆库存环比下降，国内外现货价格价差缩小。文化纸库存下降，价格上升，白卡纸市场 3 月表现继续强势。3 月国内废纸价格环比下降，纸厂黄板纸库存上升。企业库存和社会库存一升一降，箱板纸和瓦楞纸价格环比下降。强者愈强，造纸龙头投资黄金期到来。

家居一季度地产和家居消费数据出炉，增长亮眼，行业逻辑持续兑现。我们认为龙头估值将会明显超越两年前的估值水平，市场从β逻辑逐步向α转变，使得市场认知从行业修复的短逻辑向个股成长的长逻辑转变，将会带来股价的中长期向好，建议重点把握当前布局窗口。文具板块竞争格局清晰，龙头地位稳固，抗风险能力强。龙头企业晨光渠道和品牌壁垒高，新零售业务持续推进，推荐晨光文具（603899）。

2021Q1基金对轻工板块的配置比例环比同比有提升。截至 2021Q1，基金对轻工板块的配置比例为1.27%，较2020Q4 环比上升0.03pct，较2020Q1 同比上升0.13pct。Q1 轻工行业基金在28 个行业中配置比例排名第19 位。基金持仓轻工板块占比小幅提升，持仓仍位于低配区间，建议自下而上优选个股配置。2021Q1，轻工板块的超配比例为-0.2pct，较2020Q4 环比下降0.11pct。

家居板块：3月地产销售&家居零售数据靓丽，景气延续；3 月地产销售持续向好，家具社零增速环比向上。短期回调迎布局良机，持续看好全年景气&业绩兑现。新型烟草：悦刻Q1心智占有率重升，持续推荐思摩尔国际Q1悦刻消费者心智份额提升，国内各品牌高速开店。