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NEW YORK , June 16, 2022 /PRNewswire/ -- The Baby Food Market is segmented by Type (prepared baby food, dried baby food, and other baby food). The market share growth by the prepared baby food segment will be significant during the forecast period. Prepared baby foods are fortified with the necessary amount of iron and other nutrients that are essential for the growth of babies. Globally, demand for prepared baby food is rising, owing to factors such as growing consumer awareness about the health benefits of consuming food products that have fewer pesticide residues.
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The Baby Food Market value is set to grow by USD 6.75 billion , progressing at a CAGR of 5.38% from 2020 to 2025, as per the latest report by Technavio.
Accelerate at a CAGR of 5.38%
APAC, North America, Europe, South America, and MEA
China, US, Hong Kong (SAR, Russian Federation, and UK
Leading companies, competitive strategies, consumer engagement scope
Abbott Laboratories, Cargill Inc., Danone SA, Hero Group, Nestle SA, Perrigo Co. Plc, Reckitt Benckiser Group Plc, Royal FrieslandCampina NV, The Hain Celestial Group Inc., and The Kraft Heinz Co.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
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Baby Food Market: Regional Analysis & Forecast
The market is segmented by geography (APAC, North America , Europe , South America , and MEA). 59% of the market's growth will originate from APAC during the forecast period. China and Hong Kong (SAR) are the key markets for baby food in APAC. Market growth in this region will be faster than the growth of the market in other regions. The increasing number of working women is leading to a rise in the overall household income will facilitate the baby food market growth in APAC over the forecast period.
One of the key factors driving the baby food market growth is the increasing women's participation in the workforce. Urbanization and the growth of the middle-class population have encouraged consumers to adopt convenience-oriented lifestyles, which is likely to make baby food products a necessary option among working women. A majority of working mothers return to their jobs shortly after childbirth and are therefore on the lookout for healthy and convenient food options for their babies. This makes baby food products an appealing option as they can combine health and nutrition with convenience. The number of working women in several developed, as well as developing countries, has increased substantially in recent years. According to the Bureau of Labor Statistics, women held approximately 50.04% of American jobs as of December 2019 , registering a growth of about 49.7% compared to the previous year. This increase in the number of working women on a global level has also led to an increase in dual-income households and the per capita income of families, thereby strengthening their purchasing power and increasing their affordability. This will be a major factor in driving the growth of the global baby food market during the forecast period.
Growing packaging innovation will be a key trend in near future. Packaging is often considered to be an extension of a brand's value. Good packaging not only provides better protection and tamper resistance, but it can also be used for marketing. Marketing communication and graphic designs on the surface of the package help garner customer attention. Therefore, baby food manufacturers are adopting innovative packaging strategies to increase the shelf life of their products and attract consumers. Vendors operating in the global baby food market continue to experiment with novel packaging concepts and invest heavily in the development of innovative, eco-friendly, and recyclable alternatives to conventional packaging. In February 2020 , Danone announced the launch of Track & Connect, a digitally-enabled service that enables access to new data-driven, personalized after-sales support and services for the company's baby formula brands like Aptamil, Karicare, Laboratoire Gallia, and Nutrilon. The focus of vendors on offering baby food products in attractive packaging, coupled with other packaging innovations in the market, can help increase the sales of baby food products and, subsequently, have a positive impact on the growth of the global baby food market during the forecast period.
Increasing number of product recalls is one of the key challenges hindering the baby food market growth. Manufacturers of baby food products issue product recall due to various factors such as product contamination and incorrect labeling. Frequent product recalls can severely affect a company's brand image, sales, and growth. Product recalls increasing the operational and financial costs for companies operating in the market. They can adversely affect market growth as consumers lose confidence in the products and the reputation of manufacturers issuing recalls. Manufacturers may also incur additional costs in the form of compensation for settling various legal litigations filed against them. In February 2020 , Lidl GB (Lidl) recalled ten different types of baby food of its private brand, Lupilu Organic Baby Food, due to the possible presence of mold in the products. In January 2020 , Cow & Gate (a popular brand of Danone), along with Tesco, announced the recall of 15 types of baby food jars as a precautionary measure due to the possible contamination of some jars.
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Baby Food Market: Vendor Landscape
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
The baby food market is fragmented and the vendors are deploying growth strategies such as new product launches, employing innovative marketing strategies, and various packaging innovations to compete in the market.
Global Ready-to-Eat Pureed Baby Foods Market: This market research report identifies Beech-Nut, HiPP, Kraft Heinz, Nestlé, and Plum, PBC as the leading vendors in the global ready-to-eat pureed baby foods market. To get more exclusive research insights: Download Our Sample Report
Organic Baby Food Market by Product, Distribution Channel, and Geography - Forecast and Analysis: The organic baby food market size is expected to grow by $ 4.38 bn and record a CAGR of 10% during 2020-2024. This market report further entails segmentations by Product (Organic prepared, Organic infant formula, Organic dried, and Organic other), Geography (North America , APAC, Europe , South America , and MEA), and Distribution channel (offline and online).To get more exclusive research insights: Download Our Sample Report
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/
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