Market Scenario
Market Research Future (MRFR) analyzed the Global Baby Food and Infant Formula Market 2020 across 2019 to 2024. By 2024, the baby food and infant formula market value can reach approximately USD 42.18 Bn. The baby food and infant formula market is likely to rise at 7.78% CAGR through the forecast period 2019 to 2024. COVID 19 impact assessment of the baby food and infant formula market is illustrated in the report. The rise in natality rate and creating the demand for infant formulas as a safe substitute for breast milk that is identified as a prime factor that can bolster the baby food and infant formula market expansion. Baby food is easy to consume and digest for infants of about six months and above. These advantages are boosting the consumer base. Thus, escalation in sales of baby food and infant formulae can add momentum to the market.
Hike in per capita disposable income and introduction of modern manufacturing machineries in the F&B sector are other causes that can promote the expansion of the baby food and infant formula market in the years ahead.
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The increase in health and wellness expenditure on babies can drive the market growth, along with the growing demand for baby food and infant formula fortification with different vitamins and minerals. Moreover, raising the investment bar by manufacturers in advertising their products can support the expansion of the baby food and infant formula market in the revenue period. The growing product knowledge among would-be and new parents can cast a positive influence on the expansion of the baby food and infant formula market.
Key Players
Sprout Organic Foods (US), HOLLE baby food GmbH (Switzerland), FRIESLANDCAMPINA (Netherlands), Kraft Heinz Foods Company (US), Glanbia PLC (Ireland), Hain Celestial Group (US), Danone SA (France), Bellamy’s Organic (Australia), Plum Organics (US), Abbott Nutrition Manufacturing Inc. (US), BEINGMATE Baby & Child Food Co., Ltd. (China), Mead Johnson & Company, LLC (US), and Nestle SA (Switzerland) among others are some well-established enterprises in the Global Baby Food and Infant Formula Market that are profiled by MRFR.
Market Segmentation
The segment analysis of the baby food and infant formula market is done by packaging type, type, and distribution channel, among others.
The type-based segments of the global baby food and infant formula market are baby food and infant formula. The infant formula subs-segments are growing-up, starting, and follow-on. The baby food sub-segments are snack foods, meals, cereals, and beverages, among others.
The packaging type-based segments of the Global Baby Food and Infant Formula Market are cans, bottles, and pouches among others. The distribution channel-based segment of the baby food and infant formula market are non-store-based and store-based. The store-based sub-segments are convenience stores, and supermarkets and hypermarkets, among others.
Regional Assessment
Trends and regional progress of the baby food and infant formula market is studied across Europe, North America, and Asia Pacific.
In North America, the baby food and infant formula market can expand at a decent pace as introduction of infant formula fortified with additional nutrients, such as proteins, carbohydrates, fats, vitamins, and minerals, along with linoleic acid and prebiotic among others can promote sales of baby formula. Thus, the regional assessment of the infant formula market in North America can promote the expansion of the market across the assessment period. In Europe, the baby food and infant formulae market can expand at with decent CAGR as increase in working women populace is observed. In APAC, the baby food and infant formula market can rise exponentially as rise in awareness about the high nutritional value of infant formula is noted.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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