BANGALORE, India, July 16, 2020
BANGALORE, India, July 16, 2020 /PRNewswire/ -- One of the major factors driving the baby infant formula market is the growing range of organic and balanced infant foods. The high sale of packaged food is due largely to its ease of access.
The global baby infant formula market size is estimated to be USD 24,043 Million in 2018 and is projected to reach USD 45,348 Million by 2025, registering a CAGR of 9.5% from 2018 to 2025.
The Baby Infant Formula Market report provides an in-depth analysis of the current trends, drivers, and dynamics of the global baby infant formula market to elucidate the prevailing opportunities and tap the investment pockets. The report also offers qualitative trends and quantitative analysis of the global market for the period of 2018–2025 to assist stakeholders in understanding the market scenario.
TRENDS INFLUENCING THE BABY INFANT FORMULA MARKET SIZE
The infant formula market size is witnessing significant growth due to an increase in the population of baby boomers, increased disposable income of people in developing regions, and increased female participation in the labor force.
Rapid urbanization and middle-class growth have further propelled the Baby Infant Formula Market size.
The market for organic baby products is growing rapidly as there is a change in the lifestyle of people, especially in developed countries. Rapid urbanization around the world has encouraged convenience-oriented lifestyle adoption and is considered a major driving factor for the growth of Baby Infant Formula market size.
However, Strict regulations relating to infant formula products could impede market development.
Baby Infant Formula Market Share Analysis
The prepared food sub-segment is expected to have the largest market share, and it is expected to see strong growth during the forecast period.
The infant milk segment is expected to hold the largest Baby Infant Formula market share during the forecast period. This is because more and more physicians recommend using infant milk as a replacement for breastfeeding since it is a healthy and nutritious choice, along with better convenience.
Based on the region, North America accounted for the largest Infant market share during the forecast period. The growth of the region's market is due to high disposable income, the involvement of major players in the region, and the well-developed pharmaceutical and biotechnology industry.
Europe is the second-largest infant formula market due to its strong production facilities and high baby purchasing capacity.
The Asia Pacific is expected to see the highest level of growth in the coming years. Factors such as the high baby boomer population, increasing disposable income, and a high rate of urbanization contribute to the growth of the market in the Asia Pacific.
TOP COMPANIES IN THE BABY INFANT FORMULA MARKET
To improve their foothold in target markets, infant formula manufacturers will continue to focus on a range of strategies such as product growth, mergers, acquisitions, R & D, and innovation. Portfolio expansion is also one of the main strategies embraced by infant formula manufacturers to cater for different market segments.
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BABY INFANT FORMULA KEY MARKET SEGMENTS:
By Distribution Channel
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The global infant nutrition market size was valued at USD 34.2 Billion in 2018 and is estimated to reach USD 61.6 Billion by 2026, with a CAGR of 7.7% from 2019 to 2026.
Over the past few years, global per capita income has seen a healthy growth rate, especially in emerging economies. Increasing urbanization, growing middle-class consumers, and increasing rates of female labor force participation in developing and developed markets have encouraged the adoption of convenience-oriented lifestyles, making nutritious infant products such as baby formula and baby food as the preferred alternative.
The baby food market was valued at USD 50.7 Billion in 2014 and is expected to garner USD 72.7 Billion by 2020, registering a CAGR of 6.4% during the forecast period 2015-2020.
Increasing awareness for nutrition increased organized retail marketing, urbanization coupled with a substantial rise in the number of working women, are key factors driving growth in the baby food industry.
Global Organic Baby Food Market was valued at USD 5,834 Million in 2016 and is projected to reach USD 11,592 Million by 2023, growing at a CAGR of 10.1% from 2017 to 2023.
Key players profiled in the report are Abbott laboratories, Nestle S.A., Hero Group, Amara Organics, Danone, Plum organics, The Hein celestial group, North Castle Partners, LLC. HiPP GmbH & Co. Vertrieb KG and Baby Gourmet Foods Inc.
The key players operating in the frozen baby food market include Danone, Yummy Spoonfuls, Bambinos Baby Food, Mother Hen's Healthy Food, Hain Celestial, Square Foods, Raised Real, Little Foodie Club, Thistle Baby, and Nestle.
The report provides an in-depth analysis of the current trends, drivers, and dynamics of the frozen baby food market to elucidate the prevailing opportunities and tap the investment pockets.
The Asia-Pacific baby, infant formula market size, was valued at USD 11.4 Billion in 2017 and is estimated to reach USD 26.8 Billion by 2026 with a CAGR of 9.8% from 2019 to 2026.
Growth in the Asian-Pacific baby formula market is driven primarily by increased awareness of baby infant formula such as promoting safe baby growth & development, improving cognitive performance & development, preventing allergies, and improving gastrointestinal health & immunity.
The Global Baby Drinks Market was valued at USD 20,936 Million in 2016 and is expected to garner USD 41,616 Million by 2023, registering a CAGR of 10.4% from 2017 to 2023.
An increase in female professionals powers the demand for baby drinks. In addition, lifestyle shifts, increasing middle-class population, and growth in disposable income in emerging economies such as India, China, Indonesia, among others, have driven market growth.
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The Canada baby food market size was valued at USD 1.3 Billion in 2018 and is projected to reach USD 2.4 Billion by 2026, growing at a CAGR of 7.60% from 2019 to 2026.
The key players in the Canadian baby food industry include Nestlé S.A., Danone, Plum, PBC, Hain Celestial, Diana Group, Mead Johnson & Company, LLC, Abbott, Loblaws Inc., Parent's Choice Infant Formula, and Kraft Heinz Company.
The U.S. baby food market size was valued at USD 12.9 Billion in 2018 and is projected to reach USD 17.2 Billion by 2026, growing at a CAGR of 3.7% from 2019 to 2026.
The U.S. baby food industry has undergone many changes driven largely by parents' lifestyles and their increased interest in organic food. Several companies have launched safer ingredients and tastier baby foods. Small bowl, Yumi, Nurture Life, Pure Bowl, New Bellies, Smushed Organics, and Cerebelly are a few examples. Manufacturers of Baby Food in the U.S. can see this as a chance to expand the market.
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