Baby Food and Infant Formula Market Trends | Value Demand, Leading Players and Forecast to 2024

Market Insight

Global Baby Food and Infant Formula Market is presumed to experience a moderate CAGR during the assessment period (2017-2024) owing to the rising per capita disposable income, asserts Market Research Future (MRFR). Baby food and infant formula are referred to as food products prepared for babies till the age of two. Infant formula serves as a substitute for mother’s milk and possesses similar nutritional attributes. These products act as the major source of nutrients and calories for the babies as they lack developed teeth and muscles to chew food effectively. Parents across the globe have shifted to packaged baby food products as they are convenient and offer better nutrition.

Drivers and Constraints Impacting the Market

With rising per capita disposable income across the globe, the market for baby food and infant formula is considered to expand. With increasing per capita disposable income, the desire to purchase quality products among the consumers have increased. Infant formula comprises several nutrients such as fats, carbohydrates, vitamins, proteins, minerals, and others which are fed to babies for overall development. As the women working population is increasing, the need for baby food and infant formula is also increasing. Besides, growth in middle-class population, changing lifestyle, increasing awareness about high nutritional content, and rise in disposable income in countries such as Indonesia, India, and China are further contributing to the growth of the market. Moreover, growing spending on children’s healthcare and continuous innovation has accelerated the market growth over the years.

On the flip side, decline in global birth rate coupled with a concern related to the safety of food is some of the major factors likely to impede the market growth in the coming years.

Major Key Players

The noteworthy players operating the Global Baby Food and Infant Formula Market are Mead Johnson Nutrition (U.S.), Cow & Gate (U.K), Danalac (Switzerland), Nestle (Switzerland), Abbott Nutrition (U.S.), HiPP Organic (U.K) and Kraft Foods Inc (U.S.)

Segment Analysis

The global baby food & infant formula market has been segmented on the basis of infant formula type, baby food type, packaging, and region.

By mode of baby food type, the global baby food & infant formula market has been segmented into dried baby food, eat, milk formula, and others. Among these, milk formula is considered to witness the maximum growth rate during the assessment period.

By mode of infant formula, the global baby food & infant formula market has been segmented into special milk, follow-on milk, and starting milk. Among these, the starting milk formula segment is accounted to expand at an exponential rate and is presumed to hold the maximum market share.

By mode of packaging, the global baby food & infant formula market has been segmented into box, can, mason jar, sachet, bottle, and others. Among these, cans dominate the global market in terms of value. The growth in this segment is attributed to the high-shelf life and transportation ease of the product packed in metal cans. The sachet segment is also estimated to expand due to shifting consumer preference towards convenient packaging options.

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Regional Insights

Geographically, Baby Food and Infant Formula Market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World.

Among all the regions, Asia Pacific is estimated to hold the major market share and retain its dominance in the coming years due to the growing health-conscious population coupled with increasing healthy economic growth. Moreover, the presence of large population between 0 to 4 years is likely to contribute towards the market growth. Moreover, with the growth in female participation in labor force, the market is expected to flourish in this region. Also, rising disposable income, high living standards, and busy lifestyle in economies such as Indonesia, South Korea, China, and India, are some of the major factors augmenting the market growth.

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