Cibi e Bevande
Baby Food Market Worth $116.5 Billion by 2031 at 5.7% CAGR: Allied Market Research
The global baby food market is driven by factors such as increase in population of women professionals, increase in awareness about adequate nutritional requirements of babies, and increase in organized retailing. However, increase in breastfeeding due to government initiatives and falling birth rates restrain the market growth. Conversely, product innovations coupled with innovative packaging strategies are expected to provide several opportunities for the market growth.
Increase in organized retailing
Safety of food
Based on product type, the milk formula segment held the highest market share in 2021, accounting for around three-fifths of the global baby food market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to an increase in incidence of lactating issues in mothers, which increased the adoption of milk-based baby food products. However, the other baby food segment is projected to manifest the highest CAGR of 8.6% from 2022 to 2031. The key players in the market manufacture these food products made from premium quality fruits and vegetables to ensure proper nutrition for the babies.
Based on distribution channel, the supermarkets segment accounted for the largest share in 2021, contributing to nearly one-third of the global baby food market revenue, and is projected to maintain its lead position during the forecast period. Improved lifestyle due to considerable surge in disposable income and increase in influence of western culture are the major factors that contribute toward popularity of supermarkets. In addition, the share of local baby food brands in supermarkets is expected to witness substantial growth in years to come. However, the small grocery retailers segment is expected to portray the largest CAGR of 6.0% from 2022 to 2031. Small grocery retailers are popular among local consumers. Supermarkets & hypermarkets have their presence restricted to urban areas. This gives a competitive edge to small grocery retailers to maintain their dominance in rural and semi-urban areas.
Based on category, the conventional segment held the highest market share in 2021, accounting for more than three-fifths of the global baby food market, and is estimated to maintain its leadership status throughout the forecast period. However, the organic segment is projected to manifest the highest CAGR of 6.2% from 2022 to 2031. Organic baby food is witnessing increasing popularity in recent years as parents have become more aware of the potential health risks of eating foods treated with synthetic chemicals.
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for more than two-fifths of the global baby food market revenue, and is likely to dominate the market during the forecast period. High birth rates and rise in purchasing power of population in Asia-Pacific have significantly increased demand for baby food and milk formula-based products in this region. Intensive R&D activities by various companies in the baby food segment is expected to help companies to offer affordable baby food products in this region. However, the LAMEA region is expected to witness the fastest CAGR of 6.6% from 2022 to 2031. Increase in population of women professionals, high disposable income, and time constraints for cooking majorly boost growth of the baby food market in this region.
The report provides a detailed analysis of these key players in the global baby food market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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