Baby Food Market size to hit USD 122.81 Bn by 2029 at a CAGR 6.2 percent – says Maximize Market Research

Pune, Sept. 25, 2023 (GLOBE NEWSWIRE) -- As per the report published by Maximize Market Research, the global Baby Food Market was USD 80.60 Bn in 2022 and is expected to reach USD 122.81 Bn with a CAGR of 6.2 percent by the end of 2029. A global Food & Beverages business-consulting firm, Maximize Market Research, has published a market intelligence and competitive landscape report on the "Baby Food Market".

Baby Food Market Report Scope and Research Methodology

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The report covers Baby Food Market segmentation, development trend, application, industry overview and competitive landscape. Detailed information about the important Baby Food key players with their strategies to increase their presence in the market has been provided in the report with an in-depth analysis of product portfolio, business performance, revenue and innovations.

The bottom-up approach was used to estimate the global and regional Baby Food Market size. The secondary data was gathered from many sources such as official databases of various organizations and government sites, annual or financial reports, industry journals, and releases of product manufacturers and suppliers in the Baby Food industry along with free and paid databases.  The primary sources are manufacturers, distributors, technology developers, service providers, experts from core and related industries and organizations related to all segments related to the Baby Food industry's supply chain. SWOT analysis was used to provide the strengths and weaknesses of the Baby Food key competitors while PESTLE was employed to understand the potential impact of the macro-economic and micro-economic factors affecting the Baby Food Market.

Baby Food Market Overview

The global market is growing rapidly over the years due to increasing birth rates, especially in developing markets, which has expanded the potential customer base for baby food products. The trend of organic and natural baby food products is growing because of parents increasingly seeking healthier and chemical-free options for their infants. The market is competitive with a large number of players established and new entrant vying for the market share.

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Baby Food Market Dynamics

The increasing number of working parents and single-parent households are leading to a high demand for convenient and ready-to-eat baby food products. The growing urbanization has led to busier lifestyles, which has increased the preference for packaged and on-the-go baby food options. The trend of personalized and customized baby food options, such as meal kits and subscription services, is offering growth potential by catering to individual dietary needs and preferences. Diverse eating habits are encouraged by introducing diverse and global flavors to baby food products. The rising concerns about food allergies and intolerances have increased the demand for allergen-free and hypoallergenic baby food products. The increasing emphasis on health and wellness is resulting in the development of functional baby food products fortified with vitamins, minerals, and probiotics.

Baby Food Market Regional Insights

Asia Pacific Baby Food Market held the largest market share of 40.3 percent in 2022 and is expected to grow at a high CAGR during the forecast period. The high birth rates and increasing purchasing power of people is significantly fostering the demand for baby food products. The high research and development activities by many companies are expected to help them offer affordable baby food products in the region.

European Baby Food Market held the second largest share in the global market at 28 percent in 2022. This is attributed to the increasing concerns for newborns along with rising awareness of the benefits of formula-based nutritious baby food.  

Baby Food Market Segmentation

By Type

• Prepared baby food
• Milk formula
• Dried baby food
• Others

Based on Type, the Milk formula segment held the largest baby food market share of 60.5 percent in 2022. This is because of the increasing incidence of lactating issues in mothers, which has increased the demand for milk-based baby food products. The Prepared baby food segment is expected to grow rapidly during the forecast period.

By Distribution Channel

• Super markets
• Hypermarkets
• Small Grocery Retailers
• Health & Beauty Retailers
• Others
  
  

Based on Distributional Channel, the Super markets segment held the largest baby food market share of 35.5 percent in 2022 due to the super markets are gaining popularity owing to the availability of broad range of consumer goods under a single roof, ample parking space, and convenient operation timings. The Small Grocery Retailers segment is expected to grow at a CAGR of 6.62 percent during the forecast period.

By Nature

• Organic
• Conventional

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Baby Food Key Competitors include:

• Nestlé SA
• HJ Heinz
• Bristol-Myers Squibb
• DANONE
• Mead Johnson Nutrition Co
• Abbott Laboratories Inc
• Inner Mongolia Yili Industrial Group Co Ltd
• Royal FrieslandCampina NV
• Hangzhou Beingmate Group Co Ltd
• Hain Celestial Group Inc, The
• GlaxoSmithKline Plc
• Hero Group GmbH
• Pfizer Inc
• Associated British Foods Plc
• Arla Foods Amba
• Dean Foods Co
• Mondelez International Inc
• Danone
• Bristol-Myers Squibb
• Perrigo Company Plc
• Bellamy Organics
• Campbell Soups and Friesland Campina.
• Reckitt Benckiser Group plc
• Feihe International Inc,
• Ausnutria Dairy Corporation Ltd
  
  

Key questions answered in the Baby Food Market are:

• What are the global trends in the Baby Food Market?
• What are the upcoming industry applications and trends for the Baby Food Market?
• What are the factors contributing to the final price of Baby Food?
• What major challenges could the Baby Food Market face in the future?
• What recent industry trends can be implemented to generate additional revenue streams for Baby Food Market?
• What growth strategies are the players considering to increase their presence in Baby Food Market?
• Who are the leading players in Baby Food Market?
• Who held the largest market share in Baby Food Market?
• Which regional Baby Food Market is expected to grow at a high rate during the forecast period?
  
  

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segment | 2023−2029
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by Type, Distribution Channel, Nature and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

Maximize Market Research is leading Food & Beverages research firm, has also published the following reports:

Baby and Toddler Feeding Products and Accessories Market - The market size is expected to reach USD 1.72 billion by 2029 at a CAGR of 5.9 percent during the forecast period. The North American market is driven by the increasing birth rates, rising awareness of infant nutrition, growing focus on child health and well-being, and higher spending capacity of parents.

Baby Food Packaging Market - The market size is expected to reach USD 110.23 billion by 2029 at a CAGR of 7.4 percent during the forecast period. The market is expected to be driven by the rising demand for stand-up pouches and thin-wall containers due to their sanitary, lightweight, safe, reusable, and easy-to-carry characteristics.

Fermented Food Market - The market size is expected to reach USD 848.78 billion by 2029 at a CAGR of 5.7 percent during the forecast period. The market is expected to be driven by the rising awareness of gut health and increasing demand for natural and organic foods.

Functional Foods and Drinks Market - The market size is expected to reach USD 489.21 billion by 2029 at a CAGR of 6.98 percent during the forecast period. The market is expected to be driven by the

Vegan Food Market - The market size is expected to reach USD 61.57 billion by 2029 at a CAGR of 12.5 percent during the forecast period. The market is expected to be driven by increasing consumer demand for vegan products and rising consumer awareness of growing animal abuse.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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