Global Baby Food Market to Surpass US$ 60.04 Billion by 2025
Coherent Market Insights
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SEATTLE, WASHINGTON, UNITED STATES, November 24, 2017 /EINPresswire.com/ -- Global baby food market was valued at US$ 34.95 Billion in 2016, according to Global Baby Food Market Report by Product Type (Dried Baby Food, Infant Milk Formula, Ready to Feed Baby Food, Infant Cereals and Others), by Source Type (Organic Baby Food and Inorganic Baby Food), by Form (Liquid, Solid and Powder), by Distribution Channel (Hypermarkets, Supermarkets, Drugstores, Online Channel, Specialty Stores and Others) published by Coherent Market Insights. The baby food market is expected to register a CAGR of 6.37% over the forecast period (2017-2025) to reach US$ 60.04 Billion by 2025.
Major factors propelling the growth of baby food market include increasing food safety concerns and the growing awareness among parents regarding the requirement of adequate nutrition in the daily diet of infant and toddlers for their overall development. In addition to this, increased spending on children health care and the growing demand for organic baby food is expected to largely support the overall growth of baby food market during the forecast period. According to the Coherent Market Insights, from 1996 to 2013 the health care spending on children in United States increased from US$ 149.6 billion to US$ 235.5 billion in 2013.
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Key Trends and Analysis of Baby Food Market:
Based on source type, organic baby food is expected to record the fastest growth, witnessing highest CAGR, during the forecast period. Furthermore, based on product, baby food market is segmented into dried baby food, infant milk formula, ready to eat baby food, infant cereals and others, with infant milk formula being the major contributor in the overall growth of global baby food market in 2016.
Based on distribution channel, the market is segmented into hypermarket, supermarket, drug stores, online channel, specialty stores and others. Supermarket contributed the largest share in the global baby food market in 2016, owing to the availability of high discounts and attractive offers. In addition to this, online channel is expected to record the fastest growth during the forecast period, owing to the rapid advancements in the field of internet services.
Key Takeaways of the Market:
Asia Pacific dominated the global baby food market and accounted for US$ 13.16 billion in 2016. The region is projected to witness a CAGR of 6.65% in terms of revenue during the forecast period from 2017 - 2025. The dominance is majorly attributed to the increasing demand for the organic baby food in Asia Pacific, as parents are avoiding the usage of inorganic baby food due to the presence of chemicals such as acrylamide, which is capable of causing cancer in infants. Furthermore, the Asian baby food market is largely driven by Indonesia, owing to the high infant population in the country. According to a survey conducted by Coherent Market Insights, Indonesia recorded over 5,000,000 live births in 2016 and the number of births exceeded the number of deaths by approximately 3,000,000. In addition to this, China, India, New Zealand, Japan and Australia are the countries, also contributing in the overall growth of baby food market in the region.
Latin America is projected to be the fastest growing market witnessing highest CAGR among all the regions during the forecast period. This is due to the growing awareness regarding the nutritional diet of babies and improved conditions of primary and secondary health care for urban population which resulted in the reduced infant mortality rate in the region, thus supporting the overall growth of baby food market in Latin America. According to the United Nations Children's Fund (UNICEF), Brazil holds the largest child population in the region and managed to reduce child deaths by 4.3 per cent, between1990 and 2002.
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https://www.coherentmarketinsights.com/market-insight/baby-food-market-1043
Browse 110 market data tables* and 80 figures* on "Baby Food Market” - Global forecast to 2025.
Major companies operating in the global baby food market include Nestle S.A., Groupe Danone, Abbott Laboratories, Hain Celestial Group, Kraft Heinz Company, Bristol-Myers Squibb, Hero Group, Morinaga Milk Industry Co. Ltd., and Cargill Inc.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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