Future Outlook of the Infant Food Market: Analyzing Size, Segmentation, and Competitive Landscape By Report Ocean
Introduction
The “ Infant Food “ market’s future trajectory is a topic of paramount importance, necessitating a comprehensive analysis encompassing market size, segmentation, competitive landscape, present conditions, and anticipated trends. Moreover, the ongoing challenges posed by the COVID-19 pandemic also warrant strategic insights for businesses to navigate these circumstances successfully.
Market Size and Segmentation
The Infant Food market’s evolution hinges on understanding its size and segmentation dynamics. This entails delving into aspects like product types, applications, and geographical distribution. By dissecting these facets, a clearer perspective on future growth prospects can be gained.
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The global infant food market was worth at USD 74,087.3 Billion in 2020 and is anticipated to reach USD 114,241.5 Billion by the year 2027. The market is anticipated to register a CAGR of 6.4% during the assessment period.
Infant food is specialty nutrition designed preferably for infants under age 12 months. The infant food is inherently made soft for easy consumption and is available in several varieties and flavors. The rising awareness about importance of nutrition among parents, growing personal disposable income, and increasing number of working women are major factors propelling the growth of the market. In addition, the growth in e-commerce industry in developing economies is giving a push to the sales of infant food through online channels.
Moreover, rapid urbanization and increasing acceptability for quality baby food products in developing nations is anticipated to encourage the consumers to opt for infant food products. Further, the new product developments and product launches is expected to support the market growth in coming years. For instance, in December 2020, Abbott Nutrition launched Similac line Pro-Advance. This infant formula includes 2?-FL HMO prebiotic added for infant immune support.
Growth Influencers:
Growing working women population coupled with increase in demand for ready to use baby food
In the recent years, the participation of women in workforce has increased significantly. According to the Report ?The rise and rise of women?s employment in the UK? published by the Institute for Fiscal Studies, the share of working-age mothers increased to 72% in 2015 from 50% in the year 1975. The growing number of working women with limited time to focus on the nutritional needs of their babies has led to an increase in demand for ready to use baby foods. In addition, the growing incidence of lactation issues in mothers is also supporting adoption of packaged baby food products. Moreover, in some cases specially in developed economies, mothers voluntarily prefer to infant foods instead of breast feeding, which further increases the demand for market products.
Rising demand in developing economies
The ever-increasing population in countries such as India, China, Indonesia and growing urbanization has provided favorable conditions for market growth. The growing retail sector in the developing countries also supports the growth of the market. In addition, rising disposable income in developing nations is expected to support market growth. According to the data published by CEIC Data, the gross disposable income data of Indian households increased from 119.56 INR Millions in 2017 to 131.52 INR Million in 2018. Furthermore, owing to the growing demand, several leading market companies have increased their focus on developing nations with an aim to increase their market share.
Increasing R&D Activities
Market players are increasing their investment on research and development of innovative products. This factor is anticipated to boost global infant food market growth. For instance, in June 2021, Bobbie, a company based in San Francisco raised USD 15 million in Series A funding to develop its baby formula. Further, in the year 2019, Nestle SA opened a research center in Ireland for developing milk-based infant products and maternal nutrition products.
Increasing in demand for home made baby food
The concerns related to the ingredients used in packaged baby food is increasing among the parents. In the recent years, several cases of toxic elements detected in baby foods were notified. In addition, the high price of baby food products has hampered their adoption among middle income groups. These factors are responsible for growing demand for home made baby food. However, market players are focused on running campaigns to ensure consumer about the safety of their products.
Segments Overview:
The global infant market is segmented into product type, ingredients, category, and distribution channel.
By product type
? Bottled Baby Food
? Baby Food Cereals
? Baby Food Snacks
? Baby Food Soup
? Frozen Baby Food
? Ready To Feed Baby Food
The baby food cereals segment accounts for largest share of more than 24% and the bottled baby food segment accounts for second largest share in the product type segment. The growing awareness among parents about several health benefits of feeding baby foods is one of the major factors supporting the market growth of the segment.
By ingredients,
? Cereals
? Fruits
? Meat Products
? Milk Products
? Vegetables
The milk products segment accounts for the largest share, followed by cereals segment. The rise in medical issues related to breast feeding in women is a key factor for the growth of milk products segment.
By category,
? Organic
? Conventional
The organic segment is expected to be the fastest growing segment on the basis of category. The growth of this segment is attributed to the increasing inclination of parents towards organic infant foods, which has resulted in increased focus of market players in developing organic products.
By Distribution Channel,
? Offline Channel
o Hypermarkets
o Supermarkets
o Convenience Stores
o Drugstores/ Pharmacies
? Conventional Channel
The offline segment accounts for largest share in the distribution channel segment. Hypermarkets and supermarket are commonly preferred offline channels, as consumer variety of products under one roof. In the U.S., baby food products are majorly sold through stores such as Target and Walmart.
The online segment is anticipated to be the fastest growing segment owing to the rise in e-commerce sector in the developing countries.
Regional Overview
On regional basis, the global infant food market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The Asia pacific region accounts for the largest market share of more than 40% in the global market. The growth in number of working parents in the region has led to increased demand for precooked infant food products. In addition, increased focus of market players in developing countries such as India and china supports the market growth in this region. For instance, in May 2021, Nestl? invested in baby food production in China. The company set up production for pouched baby food products.
Europe holds second largest market share in the global market. The factors such as growing inclination towards organic baby foods and growing population of working parents support the market growth in this region. In addition, prominent market players have strong foothold in this region.
Competitive Landscape
Key players operating in the global infant food market includes Abbott (Abbott Nutrition), Babylicious Ltd., Babynat, Beech Nut Nutrition Corporation, Bristol Myers Squibb, Bubs Organic, LLC, DANONE, Dutch LadyMilk Industries Bhd, Earth’s Best (The Hain Celestial Group, Inc.), Ella’s Kitchen, FASSKA, H.J. Heinz Company, Hero Baby, HiPP, Little Dish, Nestle SA, Nutricia, Plasmon, Perrigo Company plc, SMA Nutrition, Sprout Foods, Inc., and Want Want Group Leisure Foods Ltd.
These market players are engaged in partnerships, new product launches, merger & acquisitions to strengthen its market presence. For instance, in June 2018, SMA Nutrition launched SMA Organic Follow-on Milk and SMA Organic Growing Up Milk in UK.
The global infant food market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyze penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global infant foods market have been provided in this research report. In addition, the report also emphasizes on the SWOT analysis of the leading players.
? Product Development & Innovation: Report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global infant food market report answers questions such as:
? What is the market size and forecast of the Global Infants Foods Market?
? What are the inhibiting factors and impact of COVID-19 on the Global Infant Food Market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the Global Infants Foods Market?
? What are the technology trends and regulatory frameworks in the Global Infants Foods Market?
? What is the market share of the leading players in the Global Infants Foods Market?
? What modes and strategic moves are considered favorable for entering the Global Infants Foods Market?
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Key Reasons to Purchase this Report:
Strategic Direction: This research report provides insightful analysis and strategic advice for senior executives, decision-makers, professionals, sales managers, and other market stakeholders working in this space. It aids in decision-making and offers strategic recommendations for product advancements.
Comprehensive Analysis: Both economic and non-economic aspects are taken into account in the report’s thorough qualitative and quantitative analysis of the market. For a complete knowledge of market dynamics, it contains a segment breakdown with market evaluations expressed in terms of value (USD Billion) for each segment.
Growth Opportunities: The research highlights the geographies and market categories predicted to expand at the highest rates, potentially positioning them to dominate their respective markets. It offers a thorough examination of consumption trends in various geographic areas and highlights the variables affecting regional market trends.
Competitive Landscape: The competitive landscape section lists the top market rivals and discusses current business expansions, collaborations, product launches, and acquisitions. This data makes it easier to evaluate significant players’ market positions.
Detailed Company Profiles: These include their company description, insights, product benchmarking, and SWOT analysis, providing a thorough picture of the major market participants. Stakeholders are able to assess the advantages and disadvantages of the leading market players due to these profiles.
Future Market Outlook: The study presents recent trends, growth prospects, drivers, challenges, and restraints in both emerging and developed regions. It also includes current and future market outlooks. It gives stakeholders knowledge of potential industry trends and aids in their prediction of upcoming market dynamics.
Industry Analysis: Using Porter’s Five Forces Analysis, the research provides a comprehensive analysis of the industry, looking at factors such as the bargaining power of customers and suppliers, rivalry among businesses, the threat of alternative products, and the threat of new entrants. This research helps to comprehend how fiercely the market is competitive.
Value Chain Insights: Through a thorough examination of the value chain, the research offers insightful information about the market. This aids stakeholders in comprehending the main processes and actors involved in the creation and supply of the good or service.
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