Baby Food Market to Attain High Growth in the Years to Come
According to the recent report published by Future Market Insights (FMI), the global market for baby foods will soar at a steady pace, procuring nearly US$ 62 Bn in global revenues by the end of 2022. During the forecast period, 2017-2022, the global Baby Food Market is projected to reflect at steady CAGR. Following insights reveal the key findings from FMI’s global market forecast on baby foods.
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6 Insights on Future of Baby Foods Market
In 2017 and beyond, the Asia-Pacific excluding Japan (APEJ) region will be observed as the largest market for baby foods. Throughout the forecast period, expansion of global baby food market will remain concentred in the APEJ region, revenues from which are expected to soar at a robust CAGR of 8.2%.
Towards the end of 2022, the global demand for infant formulas will outpace that of dried baby food products. However, in terms of revenues, dried baby foods will reflect a higher market share compared to infant formulas, prepared baby foods, and other products available in the baby food market.
With respect to packaging, a majority of baby foods will be sold across the globe in pouches and cartons. Collectively, sales of baby food in pouches and in cartons will exhibit nearly half of the global market value through 2022. Single-serve sachets will also gain traction, while baby food packed in jars will witness lowest traction throughout the forecast period.
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Modern trade outlets are expected to emerge as largest sales channel for baby foods. Online sales of baby foods will also witness steadfast growth, raking more than US$ 10 Bn revenues by 2022-end.
The report projects that in 2017, over US$ 10.6 Bn worth of baby food will be sold globally for consumption of infants. On the basis of age-group, toddlers will account for largest share of global baby food market, but will reflect a moderate CAGR towards the end of forecast period.
The report also projects that baby food consumption in developed markets such as North America and Europe will dwindle in the next five years. The Middle East & Africa (MEA) region, on the other hand, is expected to emerge lucrative for sales of baby foods.
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The report has also profiled leading players in the global market for baby food, which include companies namely, Nestlé S.A., Danone, Mead Johnson & Company, LLC, Abbott Laboratories, Cargill Inc., The Kraft Heinz Company, The Hain Celestial Group, Inc., Perrigo Company, Hero Group A.G., Bellamy Organics, Campbell Soups Company, DSM, and Arla Foods amba.
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
FMI’s team of over 200 research analysts provides market intelligence at global, regional, and country level. Our analysts are committed to provide independent insights, relying on our cognitive defusion training module, which conditions them to look at data objectively and unbiasedly.
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