The new report by Expert Market Research titled, ’Baby Food and Infant Formula Market Share, Size, Trend, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global baby food and infant formula market, assessing the market based on its segments like types, process types, distribution channels, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 56.1 billion
- Forecast CAGR (2021-2026): 6%
- Forecast Market Size (2026): USD 78.9 billion
Baby food is a mixture of a soft mash of fruits, vegetables, and cereals designed for toddlers aged four months to two years and infant formula is food designed specifically for babies under the age of 12 months. As the number of nuclear families has grown significantly across the world, today’s mothers balance their jobs and the everyday needs of their infants on their own. Because of this structural change in lifestyle, women are looking for healthier food options for their babies on the market.
Manufacturers are constantly designing new products to meet customer demand. They are introducing baby food and infant formula in a variety of shapes, textures, and flavors without sacrificing nutritional value. With the region’s large population and growing customer disposable incomes, Asia Pacific currently dominates the global baby food and infant formula industry.
Industry Definition and Major Segments
Manufacturers create baby food and infant formula specifically to meet the nutritional needs of the baby. Baby food and infant formula are typically supplemented with the required amount of proteins and iron to aid the development and growth of the baby.
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The market can be divided into the following type:
- Milk Formula
- Dried Baby Food
- Prepared Baby Food
- Others
On the basis of the distribution channel, the market is segmented into:
- Supermarkets and Hypermarkets
- Pharmacies
- Convenience Stores
- Others
The leading regional markets for Baby Food and Infant Formula are:
- North America
- Latin Americas
- Middle East and Africa
- Europe
- Asia Pacific
Market Trends
The global baby food and infant formula market is being driven by rising consumer demand for packaged foods, convenience, and improved nutrition. Parents are increasingly embracing baby food and infant formula items owing to the high content of proteins, vitamins, minerals, and carbohydrates, which aid in their overall growth and development. Organic and minimally processed variants are also becoming more common as they are considered safer for consumption. As a result, rising research spending would contribute to the industry’s growth over the forecast period.
Key Market Players
The major players in the market are Abbott Nutrition, Nestlé S.A., Danone S.A. and Mead Johnson Company, LLC, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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