Newark, NJ, Feb. 10, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global baby food market is expected to grow from USD 68.42 billion in 2020 and to reach USD 119.47 billion by 2028, growing at a CAGR of 6.39% during the forecast period 2021-2028.
The rising awareness regarding the nutritional benefits of commercially available baby food has increased the demand for the product especially among working parents. The demand for organic baby food is increasing among young parents due to the lesser prevalence of side-effects. With rapid urbanization and an increasing number of working mothers, the preparation of home-cooked baby foods has become a tedious task. The changing lifestyle patterns have propelled the demand for packaged baby food in many regions. Also, the increasing marketing of such products has gained tremendous response from the consumers.
Baby foods are developed in such a way that it can be easily digested by the infants. These are made from specialized formulas that contain most of the essential nutrients required for the development of bones and tissues of the baby. Breast milk is not sufficient for the overall development of the infant's body, and thus, many parents are willing to provide their child with the food products constituting additional nutrients. Initially, there were limited options available for such products; however, with increasing demand, the manufacturers have developed various flavors for baby foods. These types of food are either liquid paste or soft, which can be easily chewed by the babies. The baby foods are found to be fulfilling the infant's appetite, and thus no extra formulations are required.
The development of high-quality baby food products has accelerated the growth of the market. These infant formulas are manufactured in a highly supervised environment, which minimizes the occurrence of ill effects. Also, the growing prevalence of chronic diseases affects the lactation period of mothers, which is why they opt for commercially available nutritive food products for their infants. However, the stringent regulations governing the manufacturing of baby food products are restraining market growth.
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Key players operating in the baby food market are DANONE, Nestlé SA, Abbott Laboratories Inc., Royal FrieslandCampina NV, Pfizer Inc, GlaxoSmithKline Plc, Bellamy Organics, Mead Johnson & Company LLC, Bristol-Myers Squibb, HJ Heinz, Hero Group GmbH, Perrigo Company Plc, Campbell Soups, Arla Foods Amba, Dean Foods Co., Hain Celestial Group Inc. among others. The major players in the baby food market focus on expansionary strategies such as mergers & acquisitions, recent developments, joint ventures, collaborations, product innovations and partnerships. These strategies would extract higher market shares for the players and strengthen their position in the global baby food market. DANONE and Nestlé SA are some of the biggest manufacturers and suppliers of baby food worldwide.
The baby cereals segment dominated the market and held the largest market share of 34.20% in the year 2020
Based on the product type segment, the global baby food market includes baby cereals, frozen baby food, baby soups, milk formula food, baby snacks and others. The baby cereals segment dominated the market and held the largest market share of 34.20% in the year 2020. Baby cereals are used vastly in many regions owing to the nutritional benefits. The cereals consist of proteins and minerals, which are essential for the development of tissues. Also, cereals are rich in irons, which helps in the development of strong bones in infants. The milk-based formula segment is expected to register a high growth rate during 2021-2028. The increasing number of working women leads to a disrupted lactating period, which can cause inconvenience to the infants. Thus, the demand for milk-based formulas is increasing to fulfill the requirements of an infant’s body.
The organic segment is expected to grow by 8.77% CAGR during the year 2021-2028
Based on the nature segment, the global baby food market includes organic and conventional. The organic segment is expected to grow by 8.77% CAGR during the year 2021-2028. With the increase in cases of malnutrition and health issues in infants, the demand for organic baby food is growing tremendously. Consumers are willing to spend a little extra on high-quality organic food products. Organic food products do not consist of any type of preservatives, colors or artificial flavors, which ensures the quality of such products.
The supermarkets and hypermarkets dominated the market and held the largest market share of 31.27% in the year 2020
Based on the distribution channel segment, the global baby food market includes supermarkets and hypermarkets, convenience stores, grocery retailers, pharmacies, online and others. The supermarkets and hypermarkets dominated the market and held the largest market share of 31.27% in the year 2020. The supermarkets and hypermarkets offer a wide variety of baby food products as compared to other segments. Also, their extensive presence contributes majorly to the dominant market shares.
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Regional Segment Analysis of the Baby Food Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global baby food market is classified into North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Asia-Pacific accounted for a significant market share of 38.22% in the year 2020. The local population of the region has an inclination towards convenient baby food products due to the growing per capita income. Also, the increasing number of working women population in the region has propelled the market growth. However, Europe is expected to witness a lucrative growth rate during 2021-2028. The growing health issues in infants, coupled with rising awareness for formula-based nutrition baby food, are accelerating the growth of the market in many countries of the region. Also, the increasing penetration in the region by key vendors is expected to drive the market growth further.
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About the report:
The global baby food market is analyzed based on value (USD Billion), volume (grams), export (grams), and import (grams). All the segments have been analyzed on a global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the market's key insight. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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