Asia Pacific Baby Food Market Forecast with Key Players, Drivers, Restraints and Opportunities

DUBLIN, Aug. 8, 2023 /PRNewswire/ -- The "Asia Pacific Baby Food Market - Forecasts from 2023 to 2028" report has been added to  ResearchAndMarkets.com's offering.

The Asia Pacific (APAC) baby food market is projected to experience significant growth at a CAGR of 5.96% during the forecast period, expanding from an estimated market size of US$50.350 billion in 2021 to US$75.487 billion in 2028.

This robust growth is driven by multiple factors, including the rising number of working parents, increasing awareness of the importance of proper infant nutrition, and a wide range of baby food products available in the market. Among the product types, infant formula dominates the market, accounting for the bulk of total revenue.

The increasing demand for organic and natural baby food products is also a key driver in the Asia Pacific baby food market.

In recent years, there has been a notable shift in consumer preferences, with parents becoming more concerned about the safety and quality of the food they provide to their children. Organic and natural baby food products, being free from harmful chemicals, artificial colors, flavors, and preservatives, are viewed as healthier and safer options.

The market's growth is significantly influenced by the growing population of infants and toddlers in the region. As parents become more aware of the nutritional needs of their children, there is a growing demand for specialized baby food products that provide natural, organic, and non-GMO ingredients. Manufacturers are responding to this demand by developing new products tailored to meet the specific nutritional needs and preferences of infants and toddlers in the Asia Pacific region.

Furthermore, the increasing number of working women and concerns about nutrition in infants and young children are driving the demand for baby food in the Asia Pacific. With Australia's female labor force participation rate reaching a record high of 61.8% in May 2021, more mothers are joining the workforce and relying on packaged baby food products as a convenient and time-saving solution to ensure their children receive proper nutrition even when they are away from home.

The milk formula segment is expected to witness robust growth in the Asia Pacific baby food market.

Driven by the increasing number of working parents, rising disposable income, and a growing awareness of the importance of proper nutrition for infants and toddlers, there is a surge in demand for milk-formulated baby food products.

According to Nestle India Limited's 2020 Annual Report, the company's annual sales for milk-based products increased from 34,981.9 million INR in 2019 to 39,108.2 million INR in 2020, with milk-based infant food contributing a significant percentage of this annual sales increase.

The report also highlights some key market developments in the Asia Pacific baby food industry, including Meji Dairies Corp.'s re-entry into Thailand's toddler formula market with milk powder cubes to overcome time wastage and powder spillage.

Danone recently launched a new milk-formulated baby food product, Nutrilon Yunhui stage 3, in China in April 2022, containing a high level of essential vitamins. Additionally, Jennewein Biotechnologie and Yili Group signed a Memorandum of Understanding to develop innovative infant formula and baby food products tailored to the Chinese market through research and development of infant microbiomes and human milk oligosaccharides.

The market segmentation includes product types such as Milk Formula, Dried Baby Food, Prepared Baby Food, and Others, as well as distribution channels, including Hypermarkets and Supermarkets, Drugstores and Pharmacies, Convenience Stores, Online, and Others.

Companies Mentioned

• China Feihe limited
• Nestle S.A
• Danone
• Abbott
• Bellamy's Organic
• Plum Organic
• Scientific Brain Nutraceutical Pvt. Ltd.
• Saipro Biotech Pvt. Ltd.
• Best India Food Processing Pvt Ltd.
• Nutrimed Healthcare

For more information about this report visit https://www.researchandmarkets.com/r/gcy185

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