NEW
YORK, July 12, 2024 /PRNewswire/ -- The
global baby food and infant formula market size is
estimated to grow by USD
39.99 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of over 7.56%
during the forecast period. New product launches is driving
market growth, with a trend towards increasing demand for
organic baby food products. However, increasing number of
product recalls poses a challenge. Key market players include
Abbott Laboratories, Ausnutria Dairy Corp. Ltd., Beingmate Co.
Ltd., Campbell Soup Co., Danone SA, Ellas Kitchen Brands Ltd., Else
Nutrition Holdings Inc., Emirates Industry for Camel Milk and
Products, Fonterra Cooperative Group Ltd., GreenSpace Brands Inc.,
Gujarat Cooperative Milk Marketing Federation Ltd., Hero AG, HiPP
GmbH and Co. Vertrieb KG, LACTALIS Group, Meiji Holdings Co. Ltd.,
Nestle SA, PZ Cussons Plc, Reckitt Benckiser Group Plc, and The
Kraft Heinz Co..
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Baby Food and Infant
Formula Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
7.56%
|
Market growth
2024-2028
|
USD 39995.6
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
6.25
|
Regional
analysis
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 31%
|
Key
countries
|
India, Japan, China,
Germany, and US
|
Key companies
profiled
|
Abbott Laboratories,
Ausnutria Dairy Corp. Ltd., Beingmate Co. Ltd., Campbell Soup Co.,
Danone SA, Ellas Kitchen Brands Ltd., Else Nutrition Holdings Inc.,
Emirates Industry for Camel Milk and Products, Fonterra Cooperative
Group Ltd., GreenSpace Brands Inc., Gujarat Cooperative Milk
Marketing Federation Ltd., Hero AG, HiPP GmbH and Co. Vertrieb KG,
LACTALIS Group, Meiji Holdings Co. Ltd., Nestle SA, PZ Cussons Plc,
Reckitt Benckiser Group Plc, and The Kraft Heinz Co.
|
Market Driver
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Market Challenges
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Segment Overview
This baby food and infant formula market report extensively
covers market segmentation by
- Product
- 1.1 Infant formula
- 1.2 Baby food
- Type
- 2.1 Milk formula
- 2.2 Dried baby food
- 2.3 Prepared baby food
- 2.4 Others
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Infant formula- The baby food and infant
formula market is experiencing significant growth due to the rising
working mother population and the increasing health consciousness
among consumers. Baby food manufacturers are responding to these
changing demographics and lifestyles by offering
convenience-oriented products, such as e-commerce options, organic
baby food, and instant baby cereals. However, the production of
these products involves complex processes, including milk
production, stringent regulations for food safety, and the addition
of additional nutrients. Middle-class families, particularly those
affected by rapid urbanization, are increasingly relying on infant
formula and dried baby food for their infants' nutrition. Brands
like Timios, Danone, Reckitt, and start-ups such as Sugarlogix are
catering to this demand with a focus on hygiene, nutritional value,
and flavor variety. However, the production of these products comes
with challenges, including low wages for laborers and the stress of
meeting production deadlines. Lockdown measures and the need for
longer shelf life have led to innovations like freeze-dried finger
foods and teething biscuits. While these products offer
convenience, they also raise concerns about the potential impact on
infant health. Pregnant women and new mothers must make informed
decisions about the products they feed their infants, considering
the premium amounts they pay for these products. The Catalyst
Organization and the labor force are advocating for transparency
and accountability in the production and distribution of these
essential products.
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analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The Baby Food and Infant Formula Market is a significant B2C
sector, with market sizes reaching billions according to Statista
and national statistical offices. Consumer spending on essential
nutrition for infants continues to rise, driven by increasing
income levels, working women, and nuclear families. The nutrition
sector is innovating with food technology to meet infants' unique
nutritional needs, from breast milk preservation to organic baby
food. International institutions and trade associations provide
valuable insights, while trade press reports on industry trends.
Baby health is a top priority, with healthcare facilities
emphasizing the importance of proper nutrition. Baby food
manufacturers cater to this demand through various channels,
including e-commerce platforms. The working mother population's
growth fuels market expansion. As we prioritize baby health, the
baby food market will continue to thrive.
Market Research Overview
The Baby Food and Infant Formula market is a significant B2C
sector, with market sizes reaching billions according to Statista
and national statistical offices. Consumer spending on essential
nutrition for infants, toddlers, and pregnant women continues to
rise, driven by factors like rising income levels, working women,
and nuclear families. The market is influenced by international
institutions, trade associations, trade press, and forecasting
techniques such as exponential trend smoothing and current exchange
rates. Infant nutritional needs, food technology, and
convenience-oriented lifestyles fuel market growth. Breast milk
preservation, lactose-free products, and hypoallergenic options
cater to diverse consumer needs. The market includes players like
Danone, Reckitt, and Timios, with pharmacies, convenience stores,
and healthcare facilities as key distribution channels. Market
updates reflect global awareness of baby health, organic baby food,
and premium amounts. Challenges include low wages, stress, milk
production, and food safety concerns. Stringent regulations ensure
hygiene, nutritional value, flavor variety, and shelf life. The
market encompasses dried baby food, instant baby cereal,
freeze-dried finger foods, and teething biscuits. The changing
lifestyle of new mothers and infants necessitates additional
nutrients and disposable income. Catalyst Organization, labor
force, start-ups like Sugarlogix, and industry giants shape the
market landscape.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Type
-
- Milk Formula
- Dried Baby Food
- Prepared Baby Food
- Others
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio