Baby Food & Infant Formula Market 2020 to 2024 Industry, Size, Share, Growth Prospects
Research Reports
Jan 12, 2021
Market Insight
The baby food and infant formula market has been increasing due to the augmenting demand from the downstream markets; the key drivers for the market are the rise in disposable income and demand for high-quality products. Supermarkets, hypermarkets, small grocery retailers, and health & beauty retailers are the key distribution channels in the baby food and infant formula industry. Supermarkets are the primary preferred distribution channel among consumers, followed by the health and beauty retailers. Other distribution channels include discounters, non-grocery retailers, and non-store retailing.
On the other hand, factors such as the declining birth rates, the increasing number of government initiatives to popularize breastfeeding and home cooked meals for babies are expected to restrict the growth of the market. Nevertheless, factors such as the extensive uptake of advanced technologies for production, innovations in baby food products, and substantial investments in the emerging economies would support the growth of the market over the forecast period.
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Leading Players
Key players leading the global Baby Food and Infant Formula Market include Heinz Nature, Abbot Nutrition, Hipp organic, Mead Johnson Nutrition, Nestle Cow&Gate, Danone, and Danalac among others.
Industry/Innovation/Related News
February 08, 2019 —- Bellamy’s Organic (Australia), organic infant formula and baby food producer launched a baby formula, making it a likely winner with mothers to boost sales and earnings. The new baby formula is said to have twice as much as the omega-3 of its rivals. The company has been looking to rebuild the business and regain investor trust after several tumultuous years that almost led to the collapse of the organic baby food and formula maker.
Industry Segments
For enhanced understanding, the report has been segmented into four key dynamics.
By Packaging: Can, Box, Sachet, and Bottle among others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Regional Analysis
Supermarkets, hypermarkets, small grocery retailers, and health & beauty retailers are the key distribution channels in the baby food and infant formula industry. Considering the scenario in a few developing countries in Asia such as India, where small grocery retailers and health & beauty retailers hold a significant share of sales in the region. These small grocery retailers account for comparatively a smaller share in the baby food market but would witness rapid growth over the forecast period.
The North American and European region accounts for other lucrative markets for baby food and infant formula, Globally. Huge technological advancements in the formulation techniques and process are one of the key driving forces leading the market growth in these regions. Additionally, factors such as the huge consumer inclination for the convenience food fosters the growth of the markets in these regions.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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