Baby Food Market would grow CAGR of 6.4% and to reach $72.7 billion by 2020

Baby food market was valued at $50.7 billion in 2014 and is expected to garner $72.7 billion by 2020, registering a CAGR of 6.4% during the forecast period 2015-2020. Traditionally, babies are fed with soft home cooked food, a practice that is still popular in underdeveloped and developing countries. However, growing urbanization and changing lifestyles have increased the demand for packaged baby foods in different societies and cultures. These foods are fed to babies between the ages of four to six months and two years. Growing awareness for nutrition, rise in organized retail marketing, urbanization paired with a significant increase in the count of working women population are key factors that boost the baby food industry growth. Concerns related to food safety, falling birth rates, and the practice of feeding home cooked food to babies are the key restraints in this market.

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Asia-Pacific leads the market, followed by Europe, North America and LAMEA. Asia Pacific is the largest market for milk formula, occupying more than half of the overall global baby food market share. This growth is majorly supplemented by improving economies and changing lifestyles of individuals in this region. Huge demand for prepared baby food in North American market is due to the presence of multi nutrition with balanced quantity of required nutrition in one pack. Growing concerns regarding the use of pesticides in food products, results in a larger demand for organic and premium baby food. Demand for baby food is expected to grow in the regions such as Middle East and African countries, due to the progressive awareness about the healthy baby food among the parents.

Prepared baby food is the second largest market globally and is expected to grow at the fastest CAGR during the 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.

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 baby food market 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.

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Top Key Players:

Nestle

Danone

Mead Johnson

Abbott laboratories

Hero-Group

Perrigo Company

Bellamy Organics

Hain Celestial Group

Campbell soups

Friesland Campina

Key Findings of the 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
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.
China, India and Indonesia are the most promising markets and would grow significantly over the forecast period following the baby food market trends
The Asia Pacific region would register the highest CAGR of 7.7% during 2015 2020

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