At 13%+ CAGR, Baby Food Market Value Worth USD 33 Billion by 2025: Global Market Insights, Inc.
The prepared segment of the baby food market accounted for more than a 44.6% share of the overall industry in 2018 and is anticipated to register double-digit CAGR from 2019 to 2025, supported by the rising infant population and the increasing birth rate in developing nations.
SELBYVILLE, Del., May 30, 2019 /PRNewswire/ -- The Asia Pacific baby food market dominates the global industry in terms of consumption and is projected to achieve over 14% CAGR from 2019 to 2025. The region will be growing substantially during the forecast period. The growing infant population in India, Pakistan, Vietnam, Thailand, and Indonesia will be augmenting product demand in the coming years.
Governments in these nations are also improving their infant mortality rate, for which they have begun running several schemes for baby nutrition. Additionally, there is a growing awareness among parents about the right choice of food products for their babies, which has led to intense competition among companies to maintain the quality of their baby food.
The Europe baby food market's revenue exceeded USD 5.5 billion in 2018 with a 34% industry share. Europe has the presence of several baby food producing companies. Nestle, DMK GmbH, HiPP, Danone and Danalac are the major players functional in this regional market.
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The baby food market is highly competitive with companies including Mead Johnson Nutrition (acquired by Reckitt Benckiser in 2018), Nestle, Danone, Hero Group, Abbott and Asahi Group having extensive presence across the globe. The companies are experienced in their respective domain of products and have extensive distribution networks across continents.
World Baby Food Market is projected to surpass USD 33 billion by 2025; according to a new research report by Global Market Insights, Inc. The increasing infant population and corresponding rising food demand will propel the baby food market's growth during the forecast period. According to the World Bank, birth rates have remained the highest in developing nations. Rapid urbanization, the growth of the middle class and the increasing rates of female participation in the labor force in many developing markets has encouraged adoption of convenience-oriented lifestyles, making prepared baby foods more wanted.
The baby food industry is highly regulated, right from ingredients to its packaging and labeling. As the industry is increasingly globalized, the need for guidance, monitoring and regulation are growing. There are standards and guidelines for canned food for babies, processed cereal-based foods for babies, hygiene practice for children and infant foods and complementary foods for infants and children. The standards set by each country may differ for baby food; for example, they may differ on ingredients in infant nutrition such as carbohydrates, fats, minerals, vitamins, etc. as well as the percentage of pesticide residue in food, etc. Also, every product needs to be pathogen free.
Browse key industry insights spread across 152 pages with 170 market data tables & 26 figures & charts from the report, "Baby Food Market By Distribution Channel (Hypermarket, Supermarket, Convenience Stores, Online), By Products (Prepared, Dried), Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, South Korea, Australia, Malaysia, Indonesia, Thailand, Vietnam, Brazil, Mexico, South Africa, Saudi Arabia, UAE), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/baby-food-market
The supermarket segment will be the fastest growing baby food distribution channel in the coming years. The segment will witness CAGR close to 13.2% during 2019 to 2025. The exponentially growing retail business across the globe will be beneficial for supermarket formats, as they have a wide variety of baby foods and offer products at affordable prices.
The prepared food segment held the largest share of more than 40% in the global baby food market in 2018. Prepared food is ready-to-serve and eat, garnering attention globally. These are convenient for women who work outside their home, as it saves time. Frozen prepared food is increasingly becoming popular among parents and infants and the demand shall grow prominently during the forecast timespan. Convenience store distribution channels segment will grow moderately with a CAGR of 13.3% in the global baby food market over the forecast period. These retail formats are prevalent in Asia Pacific and Latin America and consumers prefer buying baby food from here due to discounted rates.
Established players such as Nestle, Danone and Mead Johnson Nutrition (now a part of Reckitt Benckiser) have years of experience and consumer loyalty in the baby food market. These players have a strong and wide supply chain network and have backward and forward integrated their businesses to some extent. For example, Nestle has a food ingredients business as well, which caters to its baby food business. Companies merge and enter into joint ventures to make the product penetrate deep into local markets.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Baby Food Market Forecasts 2019-2025
The worldwide baby food market is expected to register 13% CAGR from 2019 to 2025 propelled by increase consumer preferences for organic baby food.
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SOURCE Global Market Insights, Inc.
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