The rise in ratio of females in the overall workforce of India and China has led to increased demand for convenient baby care products that save time and fulfil the nutritional needs of infants. Women are now increasingly relying upon brand-named baby care products in order to provide adequate care/nutrition to their children. Due to substantial rise in discretionary income of the people in India and China, consumers are now willing to pay more for convenient and reliable baby care products. In addition, factors such as word-of-mouth and attractive marketing are largely responsible for adoption of baby food products in the countries. As a result, these factors are estimated to continue leading the market growth in India and China in the coming years.
Another significant factor fueling the market growth is the steadily rising birth rate in the countries. The countries collectively contribute to more than one third of the global population, making them the largest consumer goods markets. Although the birth rate in India and China has declined remarkably in the recent years, the demand for baby care products is expected to remain steady in the coming years. The growth is majorly expected from India where birth rate is stronger as compared to China. However, China is estimated to remain the dominant market, in terms of revenue and penetration, for baby care products such as food and formula.
The report titled “India and China Baby Food and Formula Market- Growth, Share, Opportunities and Competitive Analysis, 2021 – 2029” offers strategic insights into the baby food and formula market, specific to these countries, 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 on product types and cross-sectional study across countries. The study covers the comparative analysis of different segments for the years 2020 & 2029. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities. Apart from this, the report provides a section focusing analysis of consumer behavior in the countries.
In order to help strategic decision makers, the report also includes competitive profiling of the leading baby food and formula product vendors, their SCOT (Strength, Challenges, Opportunities and Weaknesses) analysis, 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. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the India and China baby food and formula market, offering market size and estimates for the period from 2021 to 2029, keeping in mind the above mentioned factors.
Over the period of time, India and China have emerged as countries with huge consumer base. Ranging from electronic devices such as smartphones and laptops to baby care products, the two countries show immense potential. As a result, market players across different product categories have developed special interest towards India and China. With the rising economic growth and urbanization of the nations, the consumer goods market here is estimated to only grow stronger and mature.
As of 2020, China dominates the overall India and China baby food and formula market. The nation contributes to more than sixty percent of the total revenue. China has strong penetration of baby food and formula products. With the further rising urbanization and awareness regarding baby care, the adoption of baby care products is estimated to remain strong in China. In addition, due phasing out ‘one child’ policy of China, the country is projected to retain its dominant position in the market throughout the forecast period.
However, India is projected to register the highest growth in the market during the forecast period. Unlike China, the birth rate in India is still remarkable. Due to factors such as increasing female workforce, rising disposable income and urbanization, the demand for baby food and formula products is predicted to remain strong in the coming years. Subsequently, India would pose the highest growth rate in the market during the forecast period.
