The Global Market for Kids’ Food and Beverages is Projected to Reach US$144 Billion by the Year 2024
Growing Emphasis on Kids’
Health and Wellness, Increasing Awareness, and Product Innovations Drive the
Global Kids’ Food and Beverages Market, 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 Kids’ Food and Beverages market.
The global market for Kids’
Food and Beverages is projected to reach US$144 billion by the year 2024, driven by the rising
emphasis on child health and wellness, growing awareness and benefits of the
right dietary habits, and continuous product innovations.
Higher intake of empty calories, and imbalanced
diets; intake of total sugar and fat twice that of recommended intake; greater
incidence of childhood obesity; insufficient dietary intakes of iron, fiber and
other micronutrients; high incidence of anemia, vitamin B2, B6, B12, vitamin A,
and vitamin C deficiencies among school children, have shifted the focus to healthy
kids foods and beverages. Today’s food products are being created keeping in
mind children’s health. Food companies are taking required action for improving
the health and nutritional content in food and beverages that are meant for
children. Resultantly, kids’ food and drinks segment is witnessing steady
growth, driven by growing emphasis on providing healthy foods to kids; and increasing
awareness about products among kids and their rising influence on parents’
purchasing decisions. The stealth health movement is one way by which companies
are trying to offer healthier food & beverage products to children. This
movement involves hiding some portions of veggies and fruits in items like
desserts, smoothies, breads, pastas, and pizzas in an attempt to meet everyday
nutrition requirements of children easily. Children exercise major influence on their parents’
purchase decisions. As part of their promotional strategies, marketers could
thus focus on targeting the children or the end-users.
The
market is also experiencing strong demand for improved, nutritional and
healthier foods. In other words, the defining trend in the world kids food and
beverages market is the growing penchant for healthy, natural food products
that are low on sugar, calories, artificial additives, and other unhealthy,
synthetic ingredients and that are free-from gluten. Hectic lifestyles are
leaving limited time for parents to prepare desirable meals, prompting them to
replace regular meals with other alternatives such as burgers, wraps, rolls and
sandwiches. Since these alternatives are often associated with various health
problems, an increasing number of consumers globally are changing their
preferences and looking for healthier variants of these foods. Consumers are
increasingly demanding natural food products, which contain no preservatives or
additives. Natural or nutritious products include ingredients that comprise
natural healthful qualities, such as nuts, fruits and vegetables. Deficiency of
nutrients among children is offering a number of prospects for manufacturers of
functional foods and nutritional supplements.
Hence, food manufacturers are delivering naturally functional products, without
any additives such as coloring and preservatives. Players are also offering
reformulated products, which are free from unnatural transfats.
As
stated by the new market research report on Kids’ Food and Beverages, the United States represents
the largest market worldwide, owing to rising health consciousness, and the
country’s unified, aggressive stand to combat growing levels of obesity and
other disorders among children. Meanwhile, Asia-Pacific, Latin America, and the
Middle East are expected to fuel growth in the coming years. These regions
offer potential growth opportunities for the kids’ food products market in view
of the growing population, economic prosperity, rising disposable income, and
growing emphasis on the booming retail sector. Asia-Pacific represents the
fastest growing market with a CAGR of 9.1%
over the analysis period.
Major
players in the market include Atkins Nutritionals Inc., Britvic Plc, Brothers International
Food Corp., Campbell Soup Company, Conagra Brands Inc., Elevation Brands LLC,
General Mills Inc., GlaxoSmithkline Plc, GlaxoSmithKline Consumer Healthcare
Ltd., Kellogg Company, The Kraft Heinz Company, Lifeway Foods Inc., Mondelēz
International Inc., McKee Foods Corporation, Nestlé S.A., PepsiCo Inc, Quaker
Oats Company, Tipco Foods Public Company Limited, Vitaco Health NZ Ltd,
Healtheries, Want Want China Holdings Ltd., and Yum Yum Snacks among others.
The
research report titled “Kids’ Food and Beverages: A
Global Strategic Business Report” announced by Global Industry Analysts Inc.,
provides a comprehensive review
of market trends, issues, drivers, mergers, acquisitions and other strategic
industry activities. The report provides market estimates and projections for
all major geographic markets including the US, Canada, Japan, Europe (France,
Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, and
Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and
Rest of World.
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enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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