The global baby food market is projected to grow at a CAGR of 4.93% during the forecast period to reach US$92,809.073 million in 2024 from US$69,517.786 million in 2018. Growing urbanization and changes in the lifestyle of people have resulted in a rise in the consumption of baby foods in place of the traditional soft-cooked home food. Furthermore, the growing awareness regarding child nutrition and healthcare have also resulted in an increase in the demand for higher quality or premium baby food.
The demand for baby foods is further anticipated to see a rise in the coming years owing to the growing popularity of organic food products. Moreover, the improvement in standards of living in developing and underdeveloped economies also provides a potential opportunity for the baby food market to grow. Geographically, the Asia Pacific is projected to hold a substantial share in the market and will also witness multiple growth opportunities during the forecast period.
- Growing awareness regarding child nutrition and paediatrics
- The budding trend towards adoption of organic baby food
- Increasing adoption in developing economies
- In June 2019, Lotte Food introduced a new baby food formula Nubone in Vietnam. The company also got a sales contract with Viet Australia for distribution in the country. It is an export-only product aimed at children under 6 years of age.
- In June 2019, China’s National Development and Reform Commission, with six other ministries, stated that China aims to increase the local production of baby formula to supply more than 60% of the market domestically.
The major players profiled in the baby food market include Nestlé, Danone, HiPP, Abbott, and Reckitt Benckiser Group among others.
The baby food market has been analyzed through the following segments:
By Product Type
- Dried Baby Food
- Milk Formula
- Prepared Baby Food
By Distribution Channel
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
Frequently Asked Questions (FAQs)
Q1. What is the size of global baby food market?
A1. Baby Food market was valued at US$69,517.786 million in 2018.
Q2. What will be the baby food market size by 2024?
A2. The baby food market is projected to reach a market size of US$92,809.073 million by 2024.
Q3. What are the growth prospects for the global baby food market?
A3. The global baby food market is projected to grow at a CAGR of 4.93% during the forecast period.
Q4. What factors are anticipated to drive the baby food market growth?
A4. Growing urbanization and changes in the lifestyle of people have resulted in a rise in the consumption of baby foods in place of the traditional soft-cooked home food.
Q5. Which region holds the largest market share in the baby food market report?
A5. The Asia Pacific is projected to hold a substantial share in the market and will also witness multiple growth opportunities during the forecast period.