The latest report by IMARC Group, titled “Baby Food and Infant Formula Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the market reached a value of US$ 45.4 Billion in 2021. The Global Baby Food and Infant Formula Market size to grow at a CAGR of 5.7% during 2022-2027. Baby food and infant formula represent food products specifically made for babies or toddlers up to the age of two years. Infant formula acts as a replacement for the milk of a mother, owing to its similar nutritional properties, whereas baby food includes minced and mashed vegetables, meats, cereals, fruits, etc. Baby food and infant formula ingredients contain high amounts of essential nutrients, including proteins, carbohydrates, fats, vitamins, minerals, etc., that are required by infants and toddlers for their healthy growth and development.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Global Baby Food and Infant Formula Market Trends:
The rising awareness among parents towards the significance of proper nutrition on the overall growth of the child is one of the primary factors driving the global baby food and infant formula market. Moreover, the growing adoption of baby food and infant formula among working women is further catalyzing the market growth. Besides this, the escalating demand for ready-to-eat (RTE) baby food products on account of the hectic work schedules and rising expenditure capacities of the consumers is also acting as another significant growth-inducing factor. Furthermore, the expanding proliferation of online retail channels and numerous brand endorsements on social media platforms are augmenting the global market. In addition to this, continuous product innovations, such as lactose-free and soy-based formulas, are expected to cater to the growth of the baby food and infant formula market over the forecasted period. Looking forward, IMARC Group expects the global baby food and infant formula market to reach US$ 64.0 Billion by 2027, expanding at a CAGR of 5.7% during 2022-2027.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Abbott Nutrition
- Nestlé S.A.
- Danone S.A.
- Mead Johnson & Company, LLC
- Kraft Heinz Company
Baby Food and Infant Formula Market Segmentation:
Our report has categorized the market based on region, type and distribution channel.
Breakup by Type:
- Milk Formula
- Dried Baby Food
- Prepared Baby Food
- Other Baby Food
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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