Baby Food Market Is Booming Worldwide with Top key players Nestle S.A., Groupe Danone, Abbott Laboratories, Hain Celestial Group, Kraft Heinz Company, Bristol-Myers Squibb, Hero Group, Morinaga Milk Industry Co. Ltd., and Cargill Inc.
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Increasing health awareness to provide nutrition regarding the overall development of the baby is a major factors propelling the growth of this market. Moreover, increasing prevalence of lactating problems in women including breast engorgement and nipple infection caused by staphylococcus aureus, have propelled the adoption of baby food products. Furthermore, increasing preference of organic baby food is contributing to growth of the global baby food market.
In 2016, Asia Pacific dominated the baby food market in terms of revenue and accounted for a share of 37.66%, with China, India, New Zealand, Japan, Australia and Indonesia being the major contributor for baby food market growth in Asia Pacific. China dominated this market in 2016, owing to the increasing demand for safe and quality milk formula in the country. In addition to this, the growing birth rate in China is also expected to support the growth of baby food market. According to the National Health and Family Planning Commission of China, birth rate in China, had increased by 7.9% in 2016 due to the end of one-child policy that was first introduced in 1979 and formally phased out in 2015.
Latin America is anticipated to be the fastest growing market for baby food, witnessing highest CAGR of 7.21% during the forecast period (2017 - 2025). In 2016, Brazil dominated the baby food market and was followed by Mexico and Argentina. According to the Coherent Market Insights, Brazil has the largest child population in the region and recorded a continuous increase in crude birth rate since 2009. The major factors propelling the growth of baby food market in Latin America, include the steadily developing primary and secondary health care applied to marginal urban and rural population.
Major companies operating in the global baby food market include Nestle S.A., Groupe Danone, Abbott Laboratories, Hain Celestial Group, Kraft Heinz Company, Bristol-Myers Squibb, Hero Group, Morinaga Milk Industry Co. Ltd., and Cargill Inc.
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