Baby Food Market Analysis, Growth Factors, Supply Demand and Forecast to 2020 by Top Key Players: Nestle, Danone, Mead Johnson, Abbott laboratories, Hero-Group, Perrigo Company..
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Baby Food Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $72.7 billion by 2020, registering a CAGR of 6.4% during the period 2015-2020. Milk formula stands out as the largest segment, primarily fueled by the growing awareness towards baby nutrition and a decrease in breast feeding among the working women population. Prepared baby food is identified as the most promising product segment in this market. Presently, supermarkets account for the largest sales channel in the market, however, over the forecast period, the segment of small grocery retailers is estimated to register the fastest growth rate. Asia Pacific is the highest revenue generating region in the baby food market; and is estimated to register highest CAGR of 7.7% during 2015 -2020.
The Top Key players operating in baby food market
• Mead Johnson
• Abbott laboratories
• Perrigo Company
• Bellamy Organics
• Hain Celestial Group
• Campbell soups
• Friesland Campina
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Types of baby foods include Dried Baby Food, Milk Formula, Prepared Baby Food and Other Baby food such as baby snacks and beverages. Among these food products, the Milk formula segment alone contributes to nearly 2/3rd of the market, in terms of value. Dominance of this product category in the market is primarily supplemented by the global demand for milk formula, growing urbanization, increasing disposable incomes and the changing lifestyles. Further, a significant increase in the count of working women population is a key factor driving the market growth, especially in developing Asian countries. Cow milk based formulas are gaining large adoption in emerging economies.
Prepared baby food is the second largest market globally and is expected to grow the fastest CAGR during the forecast period. Growing time constraints among parents are the key factors propelling the increased adoption of prepared baby food. Presently, the demand for prepared baby food is largely limited to developed countries, however, over the forecast period, a considerable adoption would be witnessed in developing countries. Presently, demand for dried baby foods is moderate and would gain a steady pace over the forecast period. Increasing consumption of dried food with nutritionally balanced content is a key factor driving the demand for dried baby food products market.
Key findings of Baby Food Market:
• The growth of the baby food market is largely supplemented by the growing awareness for nutrition, rise in organized retail marketing, urbanization and a considerable increase in the count of working women population
• The segment of milk formula would go on to occupy the largest market share followed by the product segment of prepared foods
• China, India and Indonesia are the most promising markets and would grow significantly over the forecast period
• The Asia Pacific region would register the highest CAGR of 7.7% during 2015 2020
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