April 08, 2020
As per the report titled ‘Baby Food Market Size, By Product, Regional Outlook Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, the global baby food market is projected to amass USD 33 billion by the year 2025.
Increasing number of births across the globe in tandem with growing consumer awareness towards organic and nutrition-rich baby food products is driving the growth of baby food market. Booming baby food & care products industry is encouraging food manufacturers to foray into the baby food business. Stringent mandates regarding the contents and ingredients utilized in baby food and its packaging is resulting in the production of high-quality products, thereby rendering a positive impact on market outlook.
Based on the product, prepared baby food market segment is expected to show moderate growth during the forecast period. High product demand from Europe and North America coupled with ease of use and time saving benefits for working mothers are driving the segment growth. However, limited shelf life of prepared baby food products may hamper the segment growth.
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Speaking of the distribution channel, baby food market is classified into hypermarket, supermarket, convenience stores, and online. Supermarket segment is projected to grow with a CAGR of 13.2% over 2019-2025, owing to rapid expansion of retail network across the globe. Growing availability of varied baby food products at affordable prices will play a key role in garnering revenues from supermarkets.
Considering the geographical landscape, baby food market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe held 34% share of baby food market in 2018 and is anticipated to show a sizeable growth during 2019-2025, owing to the dense presence of baby food manufacturers such as Nestle, DMK GmbH, HiPP and Danalac in the region.
Meanwhile, Asia Pacific baby food market is expected to gain decent traction in the forthcoming years, on account of increasing infant population in India, Pakistan, Thailand, Vietnam, and Indonesia. Favorable government initiatives for baby nutrition in conjunction with growing awareness among parents regarding the importance of right selection of baby food products is fostering the regional market growth.
Major players of baby food market include Reckitt Benckiser, Nestle, Abbot, The Kraft Heinz company, Danone, Hero group, Bubs Australia Ltd., Kewpie Corp., HiPP, Bubs Australia Limited, Hain Celestial, Symrise, Asahi Group, Friesland Campina, DMK Group GmbH, Milupa GmbH, and PZ Cussons.
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