Australia Baby Food Market is Expected to Reach AUD 1,540 Million in Terms of Revenues by the End of the Year 2023: Ken Research

Australia Baby Food Market is Expected to Reach AUD 1,540 Million in Terms of Revenues by the End of the Year 2023: Ken Research

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GURUGRAM, India, March 26, 2019

GURUGRAM, India, March 26, 2019 /PRNewswire/ --

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The accelerated growth of Australia baby food is expected to be driven by the rising demand from Chinese and other Asian countries. However this growth is expected to cool down and the market is expected to grow at a CAGR of around 5% during the five year forecast period 2018-2023E. The revenue generated from the domestic sales of baby food in Australia is expected to reach AUD 1,540 million by the end of the year 2023E with significant decline in diagou trend which has caused the rapid growth in the last few years. The market share for organic baby food is expected to increase and command a respectable share thereby causing the slow growth in demand for conventional and inorganic baby food. This growth is due to the emergence of many domestic players like Bellamy's Organic, Bubs Australia Ltd. and many others which are targeting health conscious new age parents with willingness to pay the premium for healthier version of baby food. Additionally, existing companies have come up with organic variants of their existing products. Milk Formula is expected to remain the largest segment as it is in demand for all age group and is the widely used among many baby food categories.

Internet retailing will increase the demand of baby food: Online shopping will emerge out as one of the most preferred channel for buying baby food in Australia as conventional store are observed to have started their own online platform. Some of the major online players gaining popularity among the Australians are Catch.com, Chemistwarehouse.com, epharmacy.com, and Amazon. The professionally active consumers prefer online channels for purchasing baby food as it saves their time, effort and money. Gradually, with digitization and globalization, the online channels of distribution are expected to cater a large set of consumers in Australia.

Contribution of Females towards Total Labor Force: There has been an increase in the women labor force participation rate over the review period 2013-18, and it has reached to as high as 60.5% in the year 2018. It gets difficult for the working women to breastfeed their children and hence, making them dependent on milk formula for the nutrition of their babies and therefore positively impacting the sales of baby food.

Analysts at Ken Research in their latest publication "Australia Baby Food Market Outlook to 2023 – By Type (Dried Baby Food, Prepared Baby Food, Milk Formula and Other Baby Food), By Organic Baby Food), By Region and By Distribution Channels" observed that the baby food market in Australia has registered very fast growth due to high demand from the Chinese market (Diagou trend). It is expected to slow down in the near future leading to normal growth in the range of 5-6% per annum.

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For more information on the research report, refer to below link:

https://www.kenresearch.com/consumer-products-and-retail/baby-care/australia-baby-food-market/188411-95.html

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