Baby food and infant formula market to grow by USD 34.38 billion from 2022 to 2027 - Technavio

NEW YORK, Oct. 26, 2023 /PRNewswire/ -- The baby food and infant formula market size is expected to grow by USD 34.38 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will be progressing at a CAGR of 6.96% during the forecast period. New product launches are notably driving the baby food and infant formula market. However, factors such as the increasing number of product recalls may impede market growth. The market is segmented by product (infant formula and baby food), type (milk formula, dried baby food, prepared baby food, and others), and geography( APAC, Europe, North America, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format 

Key Segment Analysis
The market share growth by the infant formula segment will be significant during the forecast period. Demand for infant formula is expected to increase due to the increasing number of working mothers and growing health awareness among consumers. Infant formula contains two types of protein: casein and whey. Additionally, infant formula comes in two forms, which are instant liquid infant formula and powdered infant formula. Infant formula is made by evaporating milk until dry and is less expensive than liquid infant formula, making it popular with consumers on a budget.

To know additional highlights and key points on various market segments and their impact in coming years, View the PDF Sample Report.

Geographical Market Analysis 

APAC is projected to contribute 30% by 2027. The rising popularity of organic baby food products will drive the market growth. Furthermore, the increasing middle-class population in the region is expected to drive the market in the coming years as consumers are able to spend more on high-quality baby food products. Additionally, e-commerce channels permit price-sensitive consumers to approximate prices online and find the ideal deal. Therefore, the regional market is expected to witness steady growth during the forecast period.

Company Insights 
The baby food and infant formula market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:

Abbott Laboratories, Beingmate Co. Ltd., Danone SA, GreenSpace Brands Inc., HiPP GmbH and Co. Vertrieb KG, Nestle SA, Reckitt Benckiser Group PLC, Emirates Industry for Camel Milk and Products, Fonterra Cooperative Group Ltd., The Kraft Heinz Co., Gujarat Cooperative Milk Marketing Federation, Hero Group, Ausnutria Dairy Corp. Ltd., LACTALIS Group, Meiji Holdings Co. Ltd., Campbell Soup Co., PZ Cussons Plc, Ellas Kitchen Brands Ltd., and Else Nutrition Holdings Inc.

View the PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

Related Reports:

The baby food maker market size is estimated to grow at a CAGR of 8.25% between 2022 and 2027. The market size is forecast to increase by USD 411.17 million. 

The baby food packaging market size is estimated to grow at a CAGR of 5.5% between 2022 and 2027. The market size is forecast to increase by USD 14,661.26 million. 

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio