With the overall rising expenditure over various baby care products, the baby food and formula market is estimated to witness strong growth in the coming years. Baby food refer to soft and easily consumable food made specifically for babies. Baby food and formula is made for babies of age ranging from six months upto two years. Popular baby food and formula products include infant formula, baby cereals, bottled food, snacks & meals, nutritional supplements and frozen baby food. Amongst these, the infant formula and baby cereals are the most commonly purchased baby food products. Due to continued development in the baby food products, the market is estimated to continue witnessing strong growth during the forecast period.
The most prominent factor fueling the baby food and formula market growth is the steadily rising birth rate worldwide. Although the overall birth rate has witnessed significant slowdown since the past few years, the steady growth is anticipated in the coming years. Rising baby care awareness is another prominent factor fueling the market growth worldwide. Due to rising discretionary income, especially in the developing economies, people are now willing to spend more on baby care products so as to ensure convenience and better baby health. The market is majorly backed by North America and Europe, followed by Asia Pacific. Due to higher prices of these products, the regions are expected to remain dominant in the market throughout the forecast period.
The market size and forecast for the period 2019-2029 along with the CAGRs for the period 2021-2029 for the mentioned segments are also presented in this study.
Qualitative information sets such as market dynamics (drivers, challenges and opportunities) and market inclination insights are provided in this market assessment report. Tools such as competition assessment and attractive investment proposition are also included in this study for assessment of market competition. The report concludes with company profiles section that highlights key information about the major market players operating in the global baby food and formula market.
In order to help strategic decision makers, the report also includes competitive profiling of the leading baby food and formula product vendors, market positioning and key developments. Some of the major players profiled in the report are Nestle SA, Kraft Heinz Company, Danone SA, Hero Group, Bristol-Myers Squibb Company, Perrigo Company Plc., Mead Johnson & Company, LLC and others.
Purpose of the Report
The purpose of this strategic research study titled “Baby Food and Formula Market – Growth, Opportunities, Share & Competitive Analysis, 2021 – 2029” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global baby food and formula market.
1.1.4 Target Audience
1.1.5 USP and Key Offerings
The report titled “Baby Food and Formula Market – Growth, Opportunities, Share & Competitive Analysis, 2021 – 2029” offers strategic insights into the overall baby food and formula market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based product type and different geographical markets.
In order to help strategic decision makers, the report also includes competitive profiling of the leading players in baby food and formula market. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global baby food and formula market, offering market size and estimates for the period from 2019 to 2029, keeping in mind the above-mentioned factors.
The overall baby food and formula market is led by the infant formula and baby cereals segments. The two segments collectively contribute to more than fifty percent of the total revenue generated worldwide. These food products are easy to prepare and hence are popular across both the developed as well as developing regions. The prime concern for the parents is to feed milk to their babies. In addition, cereal diet is regarded highly beneficial for the children at the age of six months and above. Thus, the segments are estimated to continue dominating the market throughout the forecast period.
Prepared food segment is estimated to register the highest growth rate during the forecast period. The food can be served without any prior arrangements and hence becomes highly hassle-free for the parents. With the rising adoption of convenient and nutritious products, the demand for prepared food products is projected to register the highest growth rate during the forecast period. The others segment, comprising beverage and frozen foods, too is estimated to witness strong growth during the forecast period.
North America and Europe collectively account for the largest share, in terms of revenue and adoption, of the global baby food and formula market. The regions enjoy strong adoption of baby food and formula products along with the presence of leading companies in baby food and formula market. In addition, the higher prices of baby food products, as compared to other regions, is another major factor responsible for higher revenue of the regions.
The Asia Pacific is estimated to witness the highest growth in the overall baby food and formula market during the forecast period. With the rising discretionary income and awareness regarding healthcare, people here are increasingly shifting towards brand-named baby care products. Additionally, due to increasing female workforce in countries such as India and China, the demand for convenient baby care products has increased significantly in the past few years.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Baby Food and Formula market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Product
| |
|
Region Segment (2022-2032; US$ Million)
|
Key questions answered in this report
