Newark, Aug. 30, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global baby drinks market is expected to grow from USD 45.31 billion in 2021 to USD 109.66 billion by 2030, at a CAGR of 10.32% during the forecast period 2022-2030. The Asia Pacific emerged as the largest market for the global baby drinks market, with a 39.44% share of the market revenue in 2021. Asia Pacific currently dominates the baby drinks market. The growing population of China and India forms the largest consumer base for the baby drinks market. The rising disposable income is another significant factor responsible for the growth of the baby drinks market in Asia. The increasing number of female workers in the region is attributed to the growing popularity of baby drinks and food. The rising awareness about infant/baby health among the increasing number of young parents will also increase the demand for baby drinks in the region. The growing demand for high-quality, nutrient-rich, affordable baby drinks will also contribute to the regional market's growth.
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Leading companies in the industry include Abbott Laboratories, Arla Foods, Dana Dairy, Danone SA, FrieslandCampina Food Company, HIPP GmbH and Co., Mead Johnson & Company LLC, Nestle SA, The Hain Celestial Group, and The Kraft Heinz Company, among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2022-2030 |
| Forecast CAGR | 10.32% |
| 2030 Value Projection | USD 109.66 Billion |
| Market Size in 2022 | USD 45.31 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Product Type, Application, Distribution |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Baby Drinks Market Growth Drivers | The increasing female workforce worldwide |
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The product type segment is divided into baby juice, baby electrolyte, infant formula, growing-up milk, ready-to-drink, concentrated, and others. The infant formula segment dominated the market with a market share of around 43% in 2021. Infant formula is false milk or infant milk that is fed to babies under the age of one year. It is a supplementary form of nourishment for the babies and the mother's breast milk. The growing popularity of infant formula can be attributed to its nutrients, convenience, and nourishment. The application segment is divided into less than 6 months, 6-12 months, 12-36 months, and more than 36 months of age. Over the forecast period, the 6-12 months segment is expected to grow at the fastest CAGR of 13.52%. During the 6-12 months of growing up, the growth happens faster, and the body requires more nutrients and energy. It is vital to introduce the proper nutrients at this stage to ensure the baby's healthy growth. The distribution channel segment is divided into supermarkets/hypermarkets, online, convenience stores, pharmacy/medical stores, and others. In 2021, the supermarkets/hypermarkets segment dominated the market, accounting for around 57% of global revenue. Supermarkets/hypermarkets focus on good-quality products and have dedicated spaces for multiple product categories, which makes it convenient for consumers to shop. Supermarkets/hypermarkets are retail chains distributed across cities, making them more accessible to customers.
According to the world health organization, around 450 million adults are underweight. The breakdown of 450 million suggests that approximately 155 million are stunted, 52 million are wasted, and 17 million are severely wasted in 2019. The pandemic further exacerbated these statistics. Poor diet quality, socioeconomic status, and global conflicts are some of the primary causes of malnutrition. Children are the country's future, and to realize the young demographic dividend, they need to be physically and mentally healthy. Children need to be nourished at every stage with proper nutrients in the right quantities. Supplements like baby drinks are effective in fulfilling nourishments when there is a lack of solid foods. Government initiatives and policies aimed at eradicating malnutrition incorporate such supplements to nourish every infant. For instance, the Integrated Child Development Schemes, Poshan Abhiyan, and infant and young child feeding practices are some flagship schemes by the government of India. They offer supplementary nutrition packages, regular health check-ups, nutrition, and health education for infants will facilitate the growth of the baby drinks market.
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