Pune, India, July 10, 2023 (GLOBE NEWSWIRE) -- The global baby food market size was USD 97.31 billion in 2022 and is projected to grow from USD 102.90 billion in 2023 to USD 161.16 billion by 2030, exhibiting a CAGR of 6.62% during the 2023-2030 period.
The market for baby food is experiencing rapid growth due to several factors, including an increasing number of working women, growing parental concerns regarding infant nutrition, and time constraints faced by parents globally. These factors have led to a higher demand for these products as they provide the necessary nutrients and energy required for the development of babies. Fortune Business Insights™ presents this information in their report titled "Global Baby Food Market, 2023–2030."
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List of Key Players Profiled in the Baby Food Market Report:
- Nestle S.A. (Switzerland)
- Hero Group (Switzerland)
- Danone S.A. (France)
- Abbott (U.S.)
- ASAHI GROUP HOLDINGS, LTD. (Japan)
- PZ Cussons (U.K.)
- The Kraft Heinz Company (U.S.)
- Kewpie Corporation (Japan)
- HiPP GmbH & Co. Vertrieb KG (Germany)
- Alter S.L. (Italy)
Report Scope & Segmentation:
| Report Attribute | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 6.62% |
| 2030 Value Projection | USD 161.16 Billion |
| Baby Food Market Size in 2023 | USD 102.90 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 180 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Baby Food Market Drivers | Growing Rate of the Infant Population Augments the Market Potential of the Infant Food Industry. |
| Innovations in Infant Products as well as Packaging is also Driving the Market’s Growth. |
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COVID-19 Impact:
Production Challenges and Supply Shortages Disrupted Market During Pandemic
The COVID-19 pandemic significantly impacted the growth of the market, causing disruption and challenges globally. Lockdown measures and strict government regulations created imbalances in production and sales of infant foods. Additionally, the supply chain management faced hurdles, leading to shortages of infant formulas in various countries. Workforce issues and concerns over contamination further contributed to the disruptions in the market.
Segments:
Infant Formula Dominates the Market as a Convenient Alternative to Breastfeeding
On the basis of product type, the market is segmented into infant formula, snacks, purees, cereals, juice & smoothies, and others. Infant formula is the dominant segment in the market, primarily due to its extensive usage across various applications. It provides a convenient solution for feeding babies when breastfeeding is not feasible or available.
Growing Demand for Weaning Foods Drives Prominence of Toddler Segment in the Market
On the basis of demography, the market is divided into infant, toddler, and preschooler. The toddler segment occupies a significant position in the market, driven by the increasing consumption of weaning foods like cereals, purees, juices, and more. Toddlers between the ages of 2 and 3 require additional energy and nutrients that are not adequately provided through breastfeeding alone.
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Inorganic Segment Dominates the Market with High Consumption and Affordability
Based on nature, the market is bifurcated into organic and inorganic. The growing demand for inorganic products can be attributed to their easy accessibility and affordability, driving the segment's significant growth. Additionally, inorganic products require lower production investments compared to organic alternatives, contributing to increased production capacity.
Convenience and Discounts Offered by Supermarkets/Hypermarkets Drive Segmental Growth
On the basis of distribution channel, the market is distributed into supermarkets/hypermarkets, grocery stores & pharmacy stores, online stores, and others. Supermarkets/hypermarkets dominate the market as they are convenient and offer a wide range of products, making them popular choices for shoppers. Bulk purchase discounts offered by DMart and Walmart attract consumers. Geographically, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
Report Coverage:
The report offers:
• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into regional developments.
• List of major industry players.
• Key strategies adopted by the market players.
• Latest industry developments include product launches, partnerships, mergers, and acquisitions.
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Drivers & Restraints:
Rising Infant Population Drives Growth in the Infant Food Category
The growth of the baby food category is being fueled by the increasing rate of infant population. According to the "National Centre for Health Statistics" report of 2021, there was a 1% rise in the birth rate in the U.S., reaching 3,659,289 births in 2021. As a result, manufacturers are actively expanding their product offerings in the infant food market to cater to the growing demand.
However, the shift of parents toward homemade food may have a detrimental effect on the baby food market growth.
Regional Insights
Asia Pacific Drives Growth with Rising Women Workforce and Disposable Income
Asia Pacific holds the largest baby food market share, primarily driven by the increasing number of women in the workforce and a fast-paced lifestyle. Additionally, countries like China and India, with their growing infant population and rising disposable income, are anticipated to drive the demand for infant products in the region.
North America secures the second spot in the infant food market, driven by parental focus on their children's health and nutrition, regardless of product cost.
Competitive Landscape
Strategic Partnerships and Innovative Product Offerings Drive Growth in the Market
Companies are strategically expanding their customer base through partnerships with key industry stakeholders and joint ventures, contributing to increased profitability. Furthermore, the introduction of innovative and sustainable products enriched with essential nutrients drives the growth of the infant food market.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Overview of the Parent/Related Markets
- Supply Chain Analysis
- Regulatory Analysis
- Recent Industry Developments – Mergers & Acquisitions, Partnerships, & New Product Launches
- Qualitative Analysis Related to COVID-19
- Impact of COVID-19 on the Market
- Supply Chain Challenges amidst Pandemic
- Potential Opportunities due to this Global Crisis
- Global Baby Food Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product Type
- Infant Formula
- Snacks
- Purees
- Cereals
- Juices and Smoothies
- Others
- By Demography
- Infant
- Toddler
- Pre Schooler
- By Nature
- Organic
- Inorganic
- By Distribution Channel
- Hypermarkets/Supermarkets
- Grocery and Pharmacy
- Online Stores
- Others
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Product Type
- North America Baby Food Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product Type
- Infant Formula
- Snacks
- Purees
- Cereals
- Juices and Smoothies
- Others
- By Demography
- Infant
- Toddler
- Pre Schooler
- By Nature
- Organic
- Inorganic
- By Distribution Channel
- Hypermarkets/Supermarkets
- Grocery and Pharmacy Stores
- Online Stores
- Others
- By Product Type
TOC Continued...!
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Key Industry Development:
- September 2022: Nestle India announced the expansion of its existing brand “Ceregrow,” by introducing a novel range of “Ceregrow Grain Selection,” across the retail and online stores in India. This nutritious cereal is rich in ragi, mixed fruits and ghee, thus adding value to the toddler’s diet.
Read Related Insights:
Organic Baby Food Market to Hit $12.22 Billion by 2021-2028 | Organic Baby Food Industry CAGR of 10.58%
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