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Baby Food and Infant Formula Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
Market Overview:
The global baby food and infant formula market reached a value of US$ 42.7 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Baby food refers to a soft mash of fruits, vegetables and cereals, which is prepared for children between the age of four months to two years. On the other hand, infant formula is manufactured and targeted for babies that are under the age of 12 months. It is considered to be an ideal substitute for breast-milk, owing to the presence of essential nutrients that play a vital role in the infants’ growth. As babies lack developed muscles and teeth for chewing adequately, baby food and infant formula act as the primary source of nutrients for them. Over the years, parents have shifted to packaged foods owing to the convenience and better nutrition offered by these products.
Parents nowadays are becoming more aware of the impact of right nutrition on the child’s overall growth and development. As a result, they are shifting toward baby food and infant formula products that are rich in proteins, vitamins, minerals and carbohydrates. These products are mostly available in the powdered form, which can be mixed with water or milk. Apart from this, due to the increasing consciousness among consumers, manufacturers are introducing organic, premium and minimally-processed baby food and infant formula variants to increase their sales. Furthermore, the burgeoning e-commerce sector is also boosting the sales of these products since it enhances the consumers’ convenience as compared to the conventional retail formats.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global baby food and infant formula market report, along with forecasts for growth at the global and regional level from 2021-2026. Our report has categorized the market based on type and distribution channel.
Breakup by Type:
- Milk Formula
- Dried Baby Food
- Prepared Baby Food
- Other Baby Food
Milk formula, also known as infant formula, represents the most preferred product type.
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Pharmacies
- Convenience Stores
- Others
Supermarkets and hypermarkets account for the majority of the total market share.
Regional Insights:
- Asia Pacific
- North America
- Europe
- Latin America
- Middle East and Africa
Asia Pacific currently represents the largest market, owing to a large population in the region.
On assessing the import and export scenario of the market, it has been found that China and the Netherlands are the biggest importer and exporter, respectively.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are:
- Abbott Nutrition
- Nestlé S.A.
- Danone S.A.
- Mead Johnson & Company, LLC
- Kraft Heinz Company
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2020 |
| Historical Period | 2015-2020 |
| Forecast Period | 2021-2026 |
| Units | US$ Billion |
| Segment Coverage | Type, Distribution Channel, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | Abbott Nutrition, Nestlé S.A., Danone S.A., Mead Johnson & Company, LLC. and Kraft Heinz Company |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 1999 Five User License: US$ 2999 Corporate License: US$ 3999 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Question Answered in this Report
The global baby food and infant formula market size was valued at US$ 42.7 Billion in 2020.
According to the estimates by IMARC Group, the global baby food and infant formula market is expected to witness a CAGR of around 6% from 2021 to 2026.
The improving consumer living standards, coupled with the increasing parental consciousness towards proper growth and nourishment of their children, represent some of the key drivers for the global baby food and infant formula market.
The rising consumer inclination towards high-quality and premium product variants, along with the emergence of organic, vegan, lactose-free, and gluten-free baby food and infant formulas, represent some of the key trends in the global baby food and infant formula market.
Sudden outbreak of the COVID-19 pandemic has resulted in a dynamic shift in the sales of baby food and infant formula from brick-and-mortar distribution channels towards e-commerce platforms.
On the basis of the product type, the market has been bifurcated into milk formula, dried baby food, prepared baby food and other baby food. Currently, milk formula holds the majority of the total market share.
On the basis of the distribution channel, the market has been segmented into supermarkets and hypermarkets, pharmacies, convenience stores, and others. At present, supermarkets and hypermarkets exhibit a clear dominance in the market.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.
The key companies in the global baby food and infant formula market are Abbott Nutrition, Nestle S.A., Danone S.A., Mead Johnson & Company, LLC and Kraft Heinz Company.
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