NEW YORK, Aug. 17, 2021 /PRNewswire/ — The surging population of working women, growing concerns of parents regarding infant nutrition, increasing organized retail marketing activities and urbanization rate, reducing infant mortality rate, and mushrooming public awareness about innovative baby food products are the major factors driving the expansion of the global baby food market. Because of these factors, the market is predicted to reach $53.9 billion revenue by 2030, while exhibiting a CAGR of 6.1% from 2021 to 2030, according to the market research report published by P&S Intelligence.
The partial factory closures and lockdowns that were imposed because of the COVID-19 pandemic caused disruptions in the distribution, import, and export of the ingredients used in the production of baby food products, thereby affecting the progress of the market. However, with many governments lifting the lockdowns and allowing the opening of manufacturing facilities and research institutes, all production and distribution activities pertaining to baby food products have resumed. Additionally, market players are witnessing a sharp surge in the demand for these products during the pandemic, which is facilitating the advance of the market for baby food.
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The baby food market is divided into baby cereals, infant formula, baby soups, baby pureed food, baby snacks, and others, depending on product. Out of these, the infant formula category held the largest share in the market in 2020 because of the surging prevalence of lactating problems in women and breastfeeding issues with infants.
The market for baby food is also classified into supermarkets, hypermarkets, specialty stores, online, and drug stores, based on distribution channel. Amongst these, the online category is predicted to register the fastest growth in the market throughout the forecast period. This is credited to the growing public preference for buying products through e-commerce platforms over other channels.
Browse in-depth report on Baby Food Market Research Report: By Product (Infant Formula, Baby Cereals, Baby Snacks, Baby Soups, Baby Pureed Food), Type (Inorganic, Organic), Distribution Channel (Hypermarkets, Supermarkets, Drug Stores, Specialty Stores, Online) – Global Industry Analysis and Growth Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/baby-food-market
Globally, the Asia-Pacific (APAC) region contributed the highest revenue to the baby food market in 2020, and it is set to grow massively during the forecast period as well. This is attributed to the high birth rate, surging purchasing power of people, and soaring population of working women in the region.
Players operating in the baby food market are actively focusing on product approvals and launches for gaining an edge over their rivals. For example, The Kraft Heinz Company launched a new line of products under the HEINZE BY NATURE brand in July 2021. These products are produced from acerola cherry and natural and organic ingredients. Moreover, the product line includes recyclable glass, which is widely sought after by parents looking for transparent and more-environment-friendly packaging.
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Some of the major global baby food market players are Danone S.A., Nestlé S.A., China Feihe Limited, The Kraft Heinz Company, Inner Mongolia Yili Industrial Group Co. Ltd., Reckitt Benckiser Group plc, China Mengniu Dairy Company Limited, Royal FrieslandCampina N.V., Abbott Laboratories, Perrigo Company plc, HiPP GmbH & Co. Vertrieb KG, PZ Cussons (UK) Limited, Hero Group, DMK Deutsches Milchkontor GmbH, and Kewpie Corporation.
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