Portland, OR, March 14, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global baby drinks market generated $30.96 billion in 2021, is projected to reach $67.10 billion by 2031, manifesting a CAGR of 7.9% from 2022 to 2031.The report offers an extensive analysis of changing market trends, value chain, top segments, top investment pockets, regional scenarios, and competitive landscape.
Increase in the number of working professionals, rise high nutrition content in baby drinks, change in lifestyle, and increase in disposable income of people in the emerging economies drive the growth of the global baby drinks market. However, drop in the global birth rate and food safety concerns and hinders the market growth. On the contrary, the introduction of baby drinks, free from ingredients, such as added sugar, sodium, and preservatives, and use of certified organic milk in the infant formula create new opportunities in the coming years.
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Covid-19 Scenario-
- Due to the outbreak of Covid-19, health authorities have imposed strict rules for the production of dairy products in order to strengthen babies' immune systems.
- However, in order to avoid infection, the demand for baby drinks has been reduced during the pandemic.
- In addition, the prolonged has disrupted the global supply chain which in turn affected the global baby drinks market.
The report offers detailed segmentation of the global baby drinks market based on product type, application, distribution channel, and region.
Based on product type, the infant formula segment held a major share in the global baby drinks market in 2021, accounting for more than 90% of the market, and is anticipated to continue its led share during the forecast period. However, baby electrolyte and baby juice segments are expected to witness the highest CAGR of 9.1% from 2022 to 2031.
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Based on application, the 12-36 months segment accounted for the largest share in 2021, holding nearly half of the global baby drinks market, and is projected to maintain its leadership status throughout the forecast period. However, the <6 months segment is estimated to manifest the highest CAGR of 8.9% from 2022 to 2031.
Based on region, Asia-Pacific held the highest share in 2021, contributing to around half of the total share, and is estimated to continue its dominant share in terms of revenue by 2031. However, the Europe region is expected to portray the fastest CAGR of 9.5% during the forecast period.
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Leading players of the global baby drinks market analyzed in the research include Arla Foods amba, Verwaltung Hipp GmbH & Co. Vertrieb KG (Hipp), Bobbie, The Hain Celestial Group, Inc., The Kraft Heinz Company, Abbott Laboratories, Danone S.A., Nestle S.A., Mead Johnson & Company, LLC, and Holle Baby Food GmBH.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
