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Global Baby Food Market Anticipated to Surge at a CAGR of 5.5% Through 2026
MRRSE
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Persistence Market Research’s latest forecast study on the global baby foods market projects that more than US$ 100 Bn worth of baby foods will be sold globally by the end of 2026. During the forecast period, the global market for baby foods is poised to expand at a CAGR of 5.5%, with a slew of factors driving consumers towards new infant formulas and improved baby food products. The report also expects that challenges in procurement of raw ingredients and supply chain discrepancies will hinder the global production of baby foods in the upcoming years. The report has revealed that the Asia-Pacific excluding Japan (APEJ) region will remain the most lucrative market for both, sales and production of baby foods. The demand for baby foods in developed marketplaces such as North America and Europe will remain steady throughout the forecast period.
More Uptake for Infant Formulas and Baby Juices
One the basis of products, the report has estimated that the demand for infant formulas will be the highest in the global baby foods market through 2026. By the end of forecast period, more than three-fifth share of revenues procured in the global baby foods market will be accounted by the sales of infant formulas. The report also reveals that baby juices will register fastest revenue growth. The skepticism of consumers towards baby juices is expected to be lowered in the near future, which will lead to a considerable rise in their sales. The report forecasts that over the forecast period, baby juices as a product-type segment will register a CAGR of 6.9%.
Modern Trade Sales of Baby Foods to Bring in US$ 46.8 Bn by 2026-end
In 2017 and beyond, modern trade outlets will represent largest sales channel in the global baby foods market. Specialty stores and drug stores will also witness considerable traction in terms of procuring high sales of baby foods. In addition, the report also reveals that a majority of products sold in the global baby foods market will be non-organic. Since organic baby foods are high-priced and companies face hindrances in cost-effective procurement of organic raw ingredients, several market participants will be focusing on increasing the production of non-organic baby foods. By the end of 2026, more than US$ 85 Bn worth of non-organic baby foods are expected to be sold in the global market.
Browse Full Report with TOC @ https://www.mrrse.com/global-baby-food-market
High Competition in the Global Baby Foods Market
The study reveals that dozens of companies are actively partaking in the expansion of the global baby foods market. These companies range from industry leaders of pharmaceuticals and food & beverage sectors to emerging players. The report has profiled these companies, which include Nestlé SA., Bristol-Myers Squibb., H.J. Heinz., Mead Johnson Nutrition Co., DANONE., Inner Mongolia Yili Industrial Group Co Ltd., Abbott Laboratories Inc., Hangzhou Beingmate Group Co Ltd., Royal FrieslandCampina NV., GlaxoSmithKline Plc., The Hain Celestial Group Inc, Pfizer Inc., Hero Group GmbH, and Arla Foods Amba.
In addition, the report has also observed Associated British Foods Plc., Mondelez International Inc., Dean Foods Co., PepsiCo Inc., Bright Food (Group) Co Ltd., Parmalat Group., Kids Food Co Ltd., TreeHouse Foods Inc., DMK Deutsches Milchkontor GmbH., Bobobaby Inc., Baby Gourmet Foods Inc., Cargill, Inc., General Mills Inc., Want Want Holdings Ltd., and McCallum Industries Ltd. as the key producers of baby foods in the global market.
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