In the modern world, the demand for baby food is gradually increasing. Multiple reasons contribute to the growth of the market share.
Global Baby Food Market was valued at US$ 40.17 Bn in 2017 and is expected to reach US$ 84.1 Bn by 2026, at a CAGR of 9.68% during a forecast period.
Sometimes it has seen that the mothers do not produce the required milk for the baby, and in some other cases, mothers have an addiction to alcohol and drugs, which could be dangerous to the baby.
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As the milk from cows and goats are not suitable for a baby as it contains a higher amount of protein and can affect human babies’ kidney, the baby formula is the only option left for the child. Though breastfeeding has the best effect on a baby, baby formula can work as the best alternative for a child.
The online market has great potential and estimated to hold the biggest share during the forecast period. The large magnitude of the e-commerce websites, more accessibility to smartphones and internet and the latest trend of online purchase are responsible for the growing online market.
Market Segmentation of Baby Food
The global market of Baby Food can be segmented according to the Type, Distribution Channel, and Region. By type, the market can be segmented into Prepared baby food, Dried baby food, Milk formula, and others. By distribution channel, the market can be classified into Supermarkets, Small Grocery Retailers, Hypermarkets, Health, and Beauty Retailers. As a result of heavy investment on milk formula, the milk formula is anticipated to hold the largest chunk in the market during the forecast period.
Geographical Market Segmentation
Geographical segmentation of the Baby Food industry includes regions like North America, Europe, Indo Pacific, South America, and the Middle East and African region.Some of the focused countries in the forecast report include China, Japan, the USA, the UK, India, etc.
The Indo-Pacific region is expected to show the largest share of growth during the forecast period due to the increasing disposable income among masses, the rapidly increasing purchasing power and the increasing population in countries like China, India, and Indonesia.
India will be the leading market during the 2018-2026 period due to its large child population (around 29% of the total population) and consciousness about children’s health care. The European region is expected to show the highest compound annual growth rate owing to a large number of manufacturing set-ups.
Key Market Players
Some of the key players in the international Baby Food market are Healthy Sprouts Foods, Hero-Group, Morinaga, Mead Johnson, Danone, Meiji, Mead Johnson, Abbott Laboratories, Perrigo Company, Beingmate, Friesland Campina, Hain Celestial Group, Bellamy Organics, Abbott Nutrition, and Campbell soups.
Mimmo Organics, an Indian brand, continues to grow in the country. They are focusing more on organic products and which is working in a good way for the company. Most of the products from this new brand are certified organic as they are free from synthetic fertilizers, preservations, GMOs, and pesticides.
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