BURNABY, British Columbia, August 27, 2014 /PRNewswire/ --
Increasing Disposable Income, Rapid Urbanization and Growing Number of Women Workforce Continue to Drive India Baby Food Market
The Indian baby food is emerging as one of the most promising markets across the globe due to rapid urbanization, expanding middle class, growing population, and increasing women workforce. Other major market drivers include rising disposable income, rising trend of nuclear families and growing number of urban households. The availability of good quality and nutritious baby food is gradually increasing due to the entry of large number of international and domestic players in the India's baby food market.
According to a recently published report by TechSci Research "India Baby Food Market Forecast & Opportunities, 2019", the India's baby food market is projected to cross USD520 million in 2014. The southern and northern regions are expected to be the leading revenue generator due to well-established presence of most of the major baby food companies in these regions of India. The report reveals that the milk based baby food segment is expected to continue its domination the Indian baby food market over the next five years, as it is considered to be the most convenient alternative to mother's milk.
Major players operating in the country's baby food market include Nestle, Abbott Nutrition, Nutricia, Raptakos, Amul, Pristine Organics, British Life Sciences, Mead Johnson, Babyvita and Manna Foods.
"A growing trend of mergers and acquisitions has been witnessed in the Indian baby food industry over the last few years. The competition in this segment is intensifying as majority of the major players are focusing on inorganic growth strategies. Nestlé's acquisitions of Gerber Foods and Pfizer Nutritionare among some of the prime examples leading to increasing market consolidation," said Mr Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Nestle is an undisputed market leader in India's baby food market, however, other existing players and new entrants are expected to capture a pie of Nestlé's share during the next five years," added Mr Chechi.
"India Baby Food Forecast & Opportunities, 2019" has evaluated the future growth potential of India's baby food market and provides statistics and information on market structure and trends. The report includes baby food projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in the baby food market in India.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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SOURCE TechSci Research