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Demand for baby food is expected to grow due to progressive awareness about the healthy baby food among the parents

06-21-2019 07:01 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

/ PR Agency: Allied Analytics
Baby Food Market

Baby Food Market

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.

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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.

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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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Key players operating in this market are primarily focusing on acquisition as a key strategy to strengthen their market presence. Acquisition is one of the key strategies followed by companies operating in this market. In 2007, Nestle acquired Gerber to expand its business segment in baby food. Also, in the step to make its foot hold in Asia, Danone acquired Wockhardt Nutrition India. Companies like Nestle and Abbott Laboratories are adopting groundbreaking marketing and branding strategies with an aim to strengthening their customer base.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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