Baby Food Market

Market Synopsis:

Global Baby Food Market is valued at USD 31509.36 Million in 2022 and is projected to reach a value of USD 49468.08 Million by 2030 at a Compound Annual Growth Rate (CAGR) of 5.80% over the forecast period.

Baby Food is soft, mashed fruits, vegetables, and cereals that can be consumed easily, other than breast milk, which is made specifically for babies. The Baby Food is available in numerous varieties and tastes to appeal to both baby and parent. The infant formula is manufactured for babies that are under the age of 12 months. It is considered as a best substitute for breast milk because it contains essential nutrients that are important for baby’s growth. Since the muscles and teeth of an infant are not developed adequately, Baby Food products are their main source of nutrition. Over the years, parents have turned to these packaged foods due to the convenience and better nutrition that these products offer. This is a factor expected to create new opportunities for prominent players operating in the target market over the forecast period.

Market Segmentation:

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The Infant Formula Segment to Hold the Largest Market Revenue Share during the Forecast Period

The infant formula category in product type held the largest share in the Baby Food Market in 2021 and is expected to maintain its position over the forecast period. This is mainly due to the increasing incidence of lactation problems in women, which has impacted the adoption of milk-based Baby Food products. In addition, the issue of breastfeeding to infants is another major factor behind the increased demand for infant formula.

Inorganic Segment Holds the Largest Market Share in Terms of Revenue

Based on type, inorganic foods accounted for a larger share of the Baby Food Market in 2021. Additionally, the growth rate of this segment will increase rapidly in the next coming years, due to the shifting focus of industry key players on increasing the production of inorganic Baby Food, as the production cost of organic Baby Food is high and companies face cost-effective barriers to sourcing organic ingredients.

Online Segment to Grow at a Highest CAGR during the Forecast Period

The supermarket segment held the significant Baby Food Market share during the forecast period, owing to the availability of broad range of consumer goods under a single roof, ample parking space, and convenient operation timings. These stores are gaining popularity as they offer variety of brands in a particular product category, offering more options for the consumers. Furthermore, some supermarkets have representatives of company in order to assist consumers in selecting Baby Food products.

However, the online category is expected to witness the highest growth rate in the Baby Food Market during the forecast period, based on distribution channel. This is attributed to the promptly growing e-commerce market across the global. Moreover, the preference of customers is shifting towards online channels, especially in the present scenario of the COVID-19 pandemic, which is leading to the rising sales of Baby Food through online channels, in order to avoid striding out and, ultimately, stay safe.

Asia Pacific Region Dominated the Baby Food Market during the Forecast Period

Asia-Pacific market is projected to dominate the global Baby Food Market during the forecast period. The high birth rate and rising disposable income of the individual in Asia Pacific have a positive impact on the Baby Food Market in the region. The intensive R&D activities of various companies operating in the Baby Food Market will help them to provide affordable Baby Food in the region. China holds the major share in terms of revenue in the target market in the region. Moreover, developing economies, like India and Indonesia, are expected to augment growth of the market in the region.

Competitive Landscape:

Some of the major key players in the Baby Food Market are Hero Group, Inner Mongolia Yili Industrial Group Co. Ltd., Kewpie Corporation, DMK Deutsches Milchkontor GmbH, PZ Cussons (UK) Limited, Perrigo Company PLC, and Royal FrieslandCampina N.V..

Baby Food Market is Segmented as Follows:

Baby Food Market is Tabulated as follows: