20 March 2019 – The Global Baby Food and Formula Market is expected to display higher growth rate over the upcoming years. The rapid surge in the market is credited to the rising number of online as well as offline distributing channels and increasing demand from working as well as older mothers.
Baby foods and formula are gaining widespread popularity among general population due to its high nutritional content and a rich source of minerals such as calcium, iron & zinc. Globally, baby foods and formula market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of baby foods and formula.
However, the rising cost of raw material sourcing and complex production process are expected to restrain market growth to a certain extent. In addition, most of the products available in the market are expensive. Yet, a large number of consumers are preferring purchase of premium products for their babies. Additionally, rising per capita income and improved living standards, particularly in the Asia Pacific region is expected to boost market demand in the upcoming years. A rise in the number of online distribution channels worldwide is fostering the market growth as well.
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A rising number of online as well as offline distributing channels and availability of broad age of products are further stimulating industry expansion over the coming years. Product differentiation is the key market trend associated with baby foods and formula market, over the past few years. Increasing spending by parents to ensure proper hygiene for their babies is expected to favor market demand for baby foods and formula over the forecast period.
- RTE Foods
- Dried Foods
- Year-old Baby
- 1-3 Year-old Baby
- 3-6 Year-old Baby
The market is broadly categorized into three major segments based on the product type such as powder baby foods and formula, liquid concentrate, and ready-to-feed baby foods. Powder baby foods and formula segment is growing rapidly in the baby foods and formula market with substantial revenue generation in the last few years.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in food & beverages sector, a surge in number of research & development activities and existence of well-established industrial infrastructure in the region. In the European region, Germany, France, and the United Kingdom are projected to witness steady growth.
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Asia-Pacific region is estimated to hold a major share in the baby foods and formula industry with massive growth in the forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, rising disposable income, an ever-growing population, favorable government initiatives, and significant investment by leading industry players considering potential growth opportunities in the region.
- AMUL (India)
- Milupa Nutricia GmbH (Germany)
- Nurture Inc. (Happy Family) (USA)
- Balactan Nutrition (Spain)
- Danone Nutricia (France)
- Beingmate Group Co., Ltd. (China)
- Bellamy’s Organic (Australia)
- Biostime Inc. (China)
- Wakodo Co. Ltd. (Japan)
- Yashili International Holdings Ltd. (China)
- Abbott Nutrition (USA)
- Dana Dairy Group (Switzerland)
- Danone SA (France)
- Ausnutria Dairy Corporation Ltd. (China)
- Wakodo Co. Ltd. (Japan)