The Global Baby Food Market is expected to be around US$62 bn by 2022
A newborn baby is of utmost importance to the parents, hence baby foods happen to be the most important thing in their shopping list. Baby food is soft and easy to consume item that is made as an alternative for breast milk, along with the basic nutrition in the required quantities resulting in healthy growth of babies. In the present scenario, baby foods are present in dried form, prepared form and also in the form of infant formulas.
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The global market for baby foods is expected to be around US$62 bn by 2022, exhibiting a modest CAGR from 2017 to 2022. Reasons like growing trend of working mothers, the growing awareness of the advantages of foods for babies that are organic, and the increase in the number of births in various regions will drive the need for baby foods during next 5 years.
The report shows that the requirements for baby foods will lead the global market in the entire in the whole of the forecast period, although, the sales of infant formulas in the global market is predicted to be faster and higher in comparison to other baby foods market. Towards the end of 2022, infant formulas sales throughout the globe are expected to be more than 6% CAGR. In this forecast period, revenues earned through the dried baby food segment will have the least CAGR. The segment for infant formulas will lead on account of increased usage of these products. Over one third of the revenue contribution of the global baby foods market will be through prepared baby foods segment, states the report.
Companies involved in the making of baby foods, continuously face fierce competition in regards to the development of new baby foods along with stringent safety measures. As it is of utmost importance that baby foods be such that they have no element which will cause any health issues to babies, it becomes the responsibility of manufacturers to ensure that the ingredients used are safe yet nutritious. The products need to be developed keeping the sensitive and tender nature of babies as their digestive systems are not developed. This makes the task of manufacturing food for babies a complicated one. Players are strategically tapping into the high demand for organic food items which has struck the world and developing baby foods that are organic, in order to gain market shares.
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The report profiles leading players such as Mead Johnson & Company, LLC, The Kraft Heinz Company, Campbell soups Company Nestlé S.A., Cargill Inc., Abbott Laboratories, The Hain Celestial Group, Inc., Hero Group A.G., DSM, Arla Foods amba, Danone, Bellamy Organics, and Perrigo Company.
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