The Global Market for Baby Foods and Infant Formula is Projected to Exceed $74 Billion by 2022
Working
Mothers’ Quest for Nutritious & Healthy Food Options to Drive Demand Opportunities
for Baby Foods and Infant Formula, According to a New Report by Global Industry Analysts,
Inc.
GIA launches comprehensive analysis of industry
segments, trends, growth drivers, market share, size, and demand forecasts on
the global Baby Foods and Infant Formula market. The global market for Baby
Foods and Infant Formula is projected to exceed $74 billion by 2022, driven by young working
mothers’ need to strike a balance between children and career and the ensuing
lucrative opportunities for healthy food options that meet the nutritional
needs of babies in the absence of a breastfeeding diet.
Several countries across the world are in the midst
of a changing demographic structure, with a rise in the population of the
elderly while the birth rate continues to witness steady decline. The growth
rate of worldwide infant population over the past seven years has gone down by
an average 0.2% per year. According to UN reports in over 50 years, the global
fertility rate has fallen below replacement levels. Despite decline in birth
rates in almost all countries across the world, the market for infant formula
and baby food is primarily driven by affluent parents keen on providing their
babies with the very best of innovative and premium products available in the
marketplace. Favorable demographics such as older parents with higher
discretionary spends, dual income households, and increasing number of women in
the workforce represent primary growth drivers for the market. Rising and
uncompromising emphasis on child safety, health, and wellness, coupled with increasing
desire for products that have been manufactured using environmentally
sustainable practices, offer convenience with on-the-go packaging, contain
clean labels, and most importantly, suit their increasingly busy lifestyles are
helping parents spend more on products that offer greater value.
Future growth in the market will be driven by the
growing popularity of non-GMO infant formulation, prebiotic and probiotic
infant formula, lactose-free formula, and soy-based formula. Other important
growth drivers include relaxation of the one-child policy in China; growing
need to offer advanced nutrition in order to improve brain development, immune
& hormonal systems as well as reduce risk of childhood obesity; increasing
inclination of consumers towards buying infant formulas via e-retail channels;
growing importance of packaging that offer convenience along with clear
labeling; and steady proliferation of fortified baby foods that offer the
benefit of several nutrients that are not available to children from regular
foods. Organic baby foods represents a booming market
worldwide supported by mounting concerns over possible exposure to toxins and
chemicals on consuming non-organic baby food products. Innovative organic baby
food products benefiting market prospects include organic baby drinks, juices,
cereal, candy, puree, snacks, bars, and biscuits, among other varieties.
Changing nutrition trends and willingness of more parents to pay a premium is
expected to drive continuous growth for the organic, nutritious baby food
segment. Other
factors benefiting market expansion in the near term include growth in demand
for ready-to-drink infant milk and RTE baby food, and steady launch of
colostrum-based baby food products, hypo/anti-allergic baby food products, and
gluten-free infant foods.
As stated by the new
market research report on Baby Foods and Infant Formula, Asia-Pacific represents the largest and the
fastest growing market worldwide with a CAGR of 7.4% over the analysis period. Home to the largest base of
child-bearing youth population, increase in population of the 0-4 years’ children
group, rising penetration of e-commerce and m-commerce, unpenetrated and
underpenetrated nature of the market, growing number of working women,
expanding affordability, influence of western lifestyles, and expanding retail
infrastructure represent key growth drivers in the region.
Key players covered in
the report include Abbott Laboratories, Abbott Nutrition, AMUL, Beingmate
Group, Bellamy’s Organic, Biostime Inc., Dana Dairy Group, Danone SA, Daqing
Dairy Holdings, Fonterra Co-operative Group, H. J. Heinz Company, Hain Celestial
Group, Hero Group, HiPP UK Ltd., Mead Johnson Nutrition Company, Meiji Co.,
Ltd., Morinaga Milk Industry Co. Ltd., Nestlé S.A., Perrigo Company plc, Synlait
Milk Ltd., The a2 Milk Company, Wakodo Co. Ltd., Yashili International
Holdings, and Yili Group, among others.
The research report titled “Baby Foods and Infant
Formula: A Global Strategic Business Report” announced by Global Industry Analysts Inc.,
provides a comprehensive review of market trends, drivers, issues, challenges,
and other strategic activities of major companies. The report provides market
estimates and projections in dollars for all major geographic markets including
the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and
Rest of Europe), Asia-Pacific (Australia, China, India, Indonesia, Malaysia,
South Korea, Taiwan, and Rest of Asia-Pacific), the Middle East, Latin America
(Brazil, Mexico, and Rest of Latin America), and Africa. Major product segments
analyzed in the report include Infant Formula, RTE Foods, Dried Foods, and
Others.
Global Industry
Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.
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