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Baby Food Market to Reach $72.7 Billion by 2020 with Top Key Players Are Nestle, Danone, Mead Johnson, Abbott laboratories, Hero-Group, Perrigo Company.

04-23-2019 11:02 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Baby Food Market

Baby Food Market

The Global Baby Food 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.

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.

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The Top Key players operating in baby food market:

• Nestle
• Danone
• Mead Johnson
• Abbott laboratories
• Hero-Group
• Perrigo Company
• Bellamy Organics
• Hain Celestial Group
• Campbell soups
• Friesland Campina

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.

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Supermarkets, hypermarkets, small grocery retails, and health & beauty retailers are the key distribution channels operating in the baby food industry. Supermarkets are the primarily preferred distribution channel followed by health and beauty retailers. However, in developing countries like India, small grocery retailers and health and beauty retailers are among the mostly preferred sales channels. Presently, small grocery retailers hold a comparatively smaller share in the global market; however, this segment is expected to witness the fastest growth during the forecast period. Other sales channels in this market include discounters, non-grocery retailers, and non-store retailing.

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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About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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