Baby Food Market Expected to Reach $116.5 Billion by 2031 | Nestle, Danone, Mead Johnson

PORTLAND, OREGON, UNITED STATES, September 25, 2023/EINPresswire.com/ -- Presently, the milk formula segment leads the market with 60.7% share in terms of revenue. However, the prepared baby food segment is estimated to witness highest CAGR of 5.7% during the forecast period. In the baby food industry Manufacturers are focusing on key innovations that cater to the requirements of the large consumer base. Increase in awareness toward health benefits and increase in mobility & physical activity are expected to boost the demand for baby food in emerging nations. Furthermore, increase has been witnessed in the number of netizens along with rise in internet penetration.

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The key players profiled in this report include Nestle, Danone, Mead Johnson, Abbott Laboratories, Hero-Group, Perrigo Company, Bellamy Organics, Hain Celestial Group, Campbell Soups, and Friesland Campina. The key players provide current trends, financial statement, and products development.

Taking this into consideration, most of the key players in the market strategize on promoting their products on various social media platforms. Thus, through social media marketing strategy, the baby food market sights critical growth opportunity.

According to the baby food market analysis, the market is segmented into product type, distribution channel, category, and region. By product type, the market is segregated into dried baby food, milk formula, prepared baby food, and others. Presently, the milk formula segment leads the market around 60% share in terms of revenue, results in baby food market trends. Increase in health and nutrition concerns for babies and limited time for food preparations are the major factors driving the growth of the market.

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Breastfeeding is prerequisite for infants during the first 6 months of birth, as it contains nearly all essential nutrients required for growth of a baby. Collaborative initiatives of various organizations, such as the WHO and UNICEF, have increased overall awareness about breastfeeding among women. Awareness programs such as “World Breastfeeding Week,” celebrated during the first week of August every year in more than 120 countries, is a major initiative for these organizations to encourage breastfeeding among lactating mothers. This, in turn, limits the overall revenue generation for the global baby food market growth.

Emerging economies of the world offer lucrative opportunities to players operating in the market. Major factors responsible for market growth in developing economies are changes in lifestyle and an increase in birth rates. As an attempt to diversify the consumer group, companies are implementing region-based strategies.

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For instance, companies operating in India have launched affordable products to tap the lower income groups. Companies such as Nestle S.A are investing on product development activities by setting up new R&D centers in India. In addition, surge in working females is expected to propel the demand for baby food in developing countries. Moreover, increase in birth rates in countries such as China and India fosters the baby food market size.

As per category, the organic segment is estimated to reach $46.3 billion by 2031, at a significant CAGR of 6.2% during the forecast period.

Key findings of the study

The milk formula baby food market was valued at $40.9 billion in 2021 and is anticipated to reach $68.4 billion by 2031, with a CAGR of 5.4% during the forecast period.
By distribution channel, the supermarket segment held the highest share, accounting for 31.5% of the global baby food market share.
In 2021, Asia-Pacific was the most prominent market and is expected to grow at a significant CAGR throughout the forecast period.
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David Correa
Allied Analytics LLP
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