Baby Food Market is Anticipated to Reach USD 68 billion in 2027, growing at a CAGR of 6.3% by 2027 | Size, Share & Forecast Analysis

Baby Food Market

The Baby Food Market is estimated to reach USD 68 billion in 2027, expanding at a CAGR of 6.3% over the forecast period (2020-2027).

For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/global-baby-food-market/

The factors driving the growth of Baby Food Market includes growing demand for infant formula solutions around the world, rise in the production of non-organic baby food products, and increasing number of Free Trade Agreement between Governments of different countries. According to the report published by Bloomberg, infant formula Market in the United States was calculated around USD 3.65 billion in 2019 and is expected to reach USD 5.81 billion by the end of 2027, which will accelerate the Baby Food Market size in the approaching years. Moreover, increase in woman's participation in the workforce, growing adoption of advanced technologies by manufacturers and rising awareness about the nutritional benefits of baby food products, are some of the additional factors supplementing the Global Baby Food Market. In addition, the increasing investments by leading players on research and development, rise in the launch of innovative baby food products, rapid urbanization, improvements in the living standards and growing population growth rates, are further contributing towards the market growth.

However, the growth of Baby Food Market is hindered due to growing concerns related to adulterated baby foods.

The leading players operating in the market are Mead Johnson & Company, LLC., DMK Group, Kewpie Corporation, Hain Celestial, Nestle S.A., Danone S.A., Reckitt Benckiser Group plc., Abbott, Hero Group and Perrigo Company Plc., among others.

Based on Product, the Milk Formula segment is predicted to capture the largest market share during the forecast period

Milk formula reduces the chances of getting ear infections, diarrhea, and respiratory infections, are pushing the segment's growth.

Based on Distribution Channel, the Hypermarket/ Supermarket segment is projected to grow at a remarkable CAGR over the forecast period

Supermarkets provides wide range of baby food products at attractive discount options and offers free home delivery options, are some of the factors responsible for the segment's growth.

Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period

As per the Baby Food Market Research Report, growing demand for prepared baby food products, rising awareness about the nutritional benefits of baby food products, rapid urbanization, increasing disposable incomes and high population growth rates, are some of the important factors augmenting the market growth.

Key Development

In 2020, Nestle S.A. introduced a single-material pouch for its baby food products designed for the future of recycling, the new pouch will be available in the U.S Market exclusively on TheGerberStore.com for Gerber's Organic Banana Mango Puree which started in May 2020.
In 2020, Danone S.A. announced to launch an infant formula tracking service in Germany, France, Australia, and New Zealand. This service will enable distributors and retailers to predict the consumer preferences.
In 2020, Hero Group and Angelini Holding entered into a joint venture to introduce a new baby food business in Italy.

Market Segmentation

Segmentation by Product

Milk Formula
Prepared Baby Food
Dried Baby Food
Others

Segmentation by Type

Organic
Inorganic

Segmentation by Distribution Channel

Hypermarket/ Supermarket
Specialty Stores
Convenience Stores
Online
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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This release was published on openPR.