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DUBLIN--(BUSINESS WIRE)--Oct 31, 2022--
The "Global Baby Food (Milk Formula, Prepared Meals, Dried, Others) Market Outlook, 2027" report has been added to ResearchAndMarkets.com's offering.
According to this report the global market in the year of 2021 was valued at around USD 80 Billion.
The growth of the middle-class economy in the globally with increasing disposable income, along with the increasing number of working female population living a hectic lifestyle are factors boosting the market. These factors will continue to bolster market growth in the future providing it with a growth rate of around CAGR 5% till 2027.
Changing consumers behaviours have shifted them towards more conscious health decisions about themselves and their baby, which leads to the increasing demand for natural and organic baby food. Additionally, infants and children are vulnerable to foodborne illnesses as their immune system isn't developed to its full capabilities to fight off infections. Thus, premium quality products and their safety are amongst the criterion which heavily influence the buyers decision.
The growing demand for gluten free baby food is also helping the market grow, along with this other food consumption trends like organic food products and vegan alternatives are gaining momentum in the market. Furthermore, the rising consciousness for quality products in the market have steered the manufacturers towards making active decision about their product Quality, this has also propelled competition globally and led to the consumers benefiting from it.
The consultants and medical doctors also advise use of baby food products, making the consumer aware about the benefits and in turn driving the adoption rate upwards. Globally different consumer perceptions are observed about the product. Regions like North America and Europe are actively consuming these products for their babies which helps the market grow. Whilst, regions like Asia pacific and Middle East & Africa consist of developing economies where the consumer perceive these products obsolete and give preference to home cooked meal. South America has contributed immensely in recent times with the market observing higher adoption rate in consumers with the increasing disposable income and awareness.
The is large population of the Asia Pacific region which includes countries like India and China both of which constituents to about 37% of the total human population. And the region of Asia Pacific itself makes up for 60% of the total human population. Comparing the baby population in the region which was about 7% of the total population in 2021which is equal to almost 208 million, makes it the largest market Globally.
The safety measures in terms of baby food packaging are a major concern among young mothers in Europe. As a result of this eco-friendly packaging is gaining traction, supporting various major companies to discriminate the products in the market. With the rising awareness regarding the effects of chemicals, fertilizers, pesticides, etc., consumers are opting for foods that are free from these. Thus, the baby food market is propelling stronger growth in this region.
The demand for baby food in the Middle East and Africa has witnessed significant growth over the past years. this is because the parents have become increasingly aware of the significance of baby food with respect to the nutritional necessity of their child's health and growth. The retail sector in Saudi Arabia has observed rapid development in recent times, and the market for baby food has grown steadily.
Recent Developments
Major Companies Included: The Hain Celestial Group, The Kraft Heinz Company, Perrigo Company plc, Reckitt Benckiser Group plc, Hero Group, HiPP GmbH & Co. Vertrieb KG, Arla Food, Danone, Ella's Kitchen, Friesland Campina, Ausnutria, Beingmate, Sun-Growers of California
Considered in the report
Region & Countries covered:
Aspects covered in the report
For more information about this report visit https://www.researchandmarkets.com/r/se8scm
View source version on businesswire.com:https://www.businesswire.com/news/home/20221031005673/en/
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KEYWORD:
INDUSTRY KEYWORD: FOOD/BEVERAGE RETAIL
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/31/2022 01:17 PM/DISC: 10/31/2022 01:17 PM
http://www.businesswire.com/news/home/20221031005673/en