Some of the major players operating in the baby food industry are Nestle, Abbott Laboratories, Danone S.A., The Kraft Heinz Company, Kewpie Corporation, Hain Celestial, Hero Group, Bubs Australia Limited, HiPP, Asahi Group, Symrise, DMK Group GmbH, Friesland Campina, Milupa GmbH, and PZ Cussons.
SELBYVILLE, Del., Aug. 3, 2022 /PRNewswire/ -- As per the report published by Global Market Insights Inc., the global Baby Food Market was estimated at USD 85,616.4 million in 2021 and is expected to reach above $ 140.96 billion in revenue by 2030, registering with a CAGR of 6% from 2022 to 2030. The research report provides a detailed analysis of top winning strategies, competitive scenario, wavering market trends, drivers & opportunities, market size & estimations, and major investment pockets.
The rising government support for nutritious baby foods in many regions owing to the growing issues of malnutrition and hunger is driving market growth.
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Some of the major findings of the baby food market report include:
- The rising penetration of baby food in emerging economies is expected to drive the market.
- Growth in online distribution channels coupled with increased consumer spending capacity is projected to have positive impacts on the market growth.
- Based on product, the prepared baby food segment dominated the baby food market in 2021. and is projected to generate huge revenue gains during the forecast period.
- Based on category, the organic baby food segment held a major market share in 2021.
Increasing women employment across the globe is considered as one of the major driving factors of the global baby food market. The availability of equal educational & employment opportunities for women coupled with supportive government programs is resulting in an increased female workforce. Proper maternal health facilities, health infrastructure & childcare policies adopted across numerous workplaces and industries are positively influencing the industry size. Baby food offers an ideal alternative to working mothers, further ensuring their optimum health during their development stages. Additionally, the growing percentage of female employees in the workplace leaves a lesser amount of time for breastfeeding and food preparation for babies, which escalates the demand for quality baby food for their babies.
The COVID-19 pandemic has impacted various industries around the globe including automotive, manufacturing, food, and others. Initially, the market observed a surge in the demand due to health-driven purchases and customers' concerns about food safety. The pandemic resulted in the shutdown of various manufacturing plants, trade restrictions, lesser availability of raw materials, and shortage of labor in 2020 & 2021. The lockdown imposed by various governments across the globe resulted in a halt in industrial activities and reduced transportation, reducing product demand.
Baby food market from dried food segment is expected to grow at a CAGR of 6.2% until 2030. Dried baby food is preferred as it has high nutrition value and offers optimal nutrition to infants suffering from lactation problems. Dried baby food products have a high growth rate as they are handy, available in small pouches, and can be easily prepared in a lesser time.
Hypermarket held a significant share in the total distribution channel with a market size of USD 19.36 billion in 2021. A unique combination of hypermarkets is one of the major driving factors. Consumer inclination and expectations continually drive hypermarkets to incorporate multiple offerings within the same product landscape. The high volume & low sales margin model has also encouraged low- to medium-income groups to prefer hypermarkets as the preferred channel to purchase baby food products.
The pre-school age group segment is expected to grow at a CAGR of 5.9% from 2022 to 2030, which is attributed to the increasing demand for baby food from parents of this age group. A pre-school child typically refers to a child aged three to six years. In this age group, children have adult-sized brains, and their overall development is also fast, propelling the demand for nutritious baby food.
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Baby food market from organic food segment is expected to exceed USD 24.56 billion by 2030. Increasing awareness among consumers about the health benefits of organic baby food, growing spending on baby products, and the rising demand for organic packaged baby food such as ready-to-eat are boosting the global market growth. Additionally, there are high chances of contamination in inorganic food, which can affect the health of babies. This factor will drive segment growth.
Europe is estimated to hold the largest share of 16.9% in the global baby food industry by 2030. The rising demand for organic baby food products owing to their environmental-friendly properties and nutrition has projected market growth. Moreover, strategic initiatives by manufacturers are anticipated to boost the Europe market growth over the study timeframe.
Major companies operating in the baby food market include Nestle, Abbott Laboratories, Danone S.A., The Kraft Heinz Company, Kewpie Corporation, Hain Celestial, Hero Group, Bubs Australia Limited, HiPP, Asahi Group, Symrise, DMK Group GmbH, Friesland Campina, Milupa GmbH, and PZ Cussons.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
SOURCE Global Market Insights Inc.