Executive Summary
The global baby food market is primarily driven by the increasing population of infants, increasing disposable income, and surging awareness about baby food products. It is expected that the rising female population across the world is increasing the demand for baby food products. However, the growing understanding of the nutritional benefits of commercially accessible infant food has boosted demand, particularly among working parents. The global organic baby food market is gaining popularity among young parents, driven by influential marketing and advancing lifestyles. The global baby food and infant formula market is expected to grow at a CAGR of 6% during 2021–2027.
Global Baby Food Market Segmentation
By Type: The global Baby Food Market is divided into Conventional and Organic Baby Food. Based on type, the conventional category had the largest proportion of the baby food market in 2021. Furthermore, it is expected to rise in the coming years, owing to a growing focus among industry participants on increasing the production of conventional baby food, as the cost of producing organic baby food is higher, and companies have challenges in procuring organic ingredients at a reasonable price.
By Product: The Global Baby Food Market segment by product is divided into Milk Formula and Baby Food. The global infant formula market dominates the overall global baby food market with a market share of ~% majorly due to rising Breast-feeding issues in women and increasing professional women's therefore they choose prepared milk-based infant food.
By Distribution: Supermarkets generated the most revenue in 2021, accounting for ~% of the global baby food and infant formula market, and are likely to continue to do so throughout the forecasted period. The prevalence of supermarkets and hypermarkets is fueled by an improved lifestyle as a result of a significant increase in disposable money, as well as the influence of western culture. In the coming years, the share of domestically produced baby food products in supermarkets is likely to increase significantly.
Performance by Region
The Asia Pacific region accounts for the largest market share in the global baby food market, with rising demand from key economies and developing regions such as China, India, and Southeast Asia.
However, Europe is predicted to grow at a healthy rate between 2021 and 2027. The demand for convenience, variety, and growing health concerns among infants, combined with increased awareness of the benefits of formula-based nutritious baby food, are propelling the growth of the Europe baby food market.
On the other hand, because of the reduced birth rate and the negative influence of numerous conversations about infant supplements on television media, the North American baby food market is growing at a slower pace. But the growing infant and children foodborne illness and the outbreak of the virus are expected to fuel market demand.
Global Economy Performance and growth Prospects for the Global Baby Food Market: The global economy is expected to register slow growth, primarily owing to the fading of fiscal support and riled demand tailwinds. However, in some regions, particularly South Asia (including India) and Japan, growth rates in 2022 are expected to exceed those in 2021, owing to delayed recoveries as these economies were more affected by the delta wave in 2021.
COVID-19 Impact: The virus outbreak had a negative impact on the global baby food and infant formula market due to the implications of global lockdown. The key players and vendors witnessed a challenging situation in raw material supply, resulting in supply interruptions. Several nations have placed trade restrictions to limit the spread of the coronavirus, which has had a substantial impact on global logistics and transportation, which has hampered the infant food sector. However, soon after the first wave, the global baby food market experienced an upsurge in demand, and the segment is expected to grow with the number of births and raising awareness.
Rising Awareness of Nutrition: With the rising number of malnutrition cases, there has been increasing nutritional awareness and health concerns among parents for the overall growth of infants and children. The demand for healthy and nutritious packaged goods is rising, driving the global baby food market. Furthermore, rising awareness of the harmful effects of chemicals has led to the trend of consumers consuming clean-label products. This further increases the demand for baby food products with natural ingredients. Production of baby food with nutritional benefits as well as transparency of ingredients is invigorating the growth of the global baby food market.
Rise in Consumer Spending: Consumer spending collapsed with the onset of the COVID-19 pandemic across the world. However, a robust recovery in consumer spending is taking place with the easing of mobility restrictions and higher economic activity. For instance, US consumer spending rebounded by 1.3% in October 2021 despite inflationary pressures. The Asia Pacific is expected to record rapid growth in disposable income and consumer spending globally over 2021-2040, with speedy economic development, urbanization, and digitalization.
Scope of the Study
The following synopsis is based on the report "Global Baby Food and Formula Milk Market Report and Forecast to 2027 " published by Makreo Research and Consulting. The report delves deeply into various parameters such as market size, segmentation, value chain analysis, and industry cause and effect analysis. The study includes market dynamics that provide an understanding of industry opportunities, driving forces, major challenges impeding growth, and an analysis of future opportunities that may help market players capitalise on untapped business potential in the specific geography.
The report helps readers gain information on the following areas:
To evaluate the present market scenario of the global baby food and infant formula market that covers market prospects and challenges involved.
To assess how the global baby food market has performed during the pre-covid scenario and what impact the COVID has left on the industry.
To study the future growth of the global baby food and infant formula market.
To study infant formula market demand and factors driving the growth
To study how dried baby food is placed and what is the dominant segment in the baby food market.
How organic baby food market is placed and what is the future expected growth of the industry?
How online retailing is driving baby food demand and what percentage this segment contribute?
To study how global baby food and infant formula market is placed in different regions worldwide and what are the major economies driving the industry growth?
Who are the leading players in the global baby food market and what is their present financial performance?
Table of Content
Report Synopsis
Industry Overview
1. Research Methodology
1.1 Objective of the Study
1.2 Research Process
1.3 Data Collection Methods
1.4 Analytical Framework
2. Global EPTD Analysis
2.1 Global EPTD Analysis
2.2 Economic Overview – Pre-Pandemic Scenario
2.3 Economic Overview – Post-Pandemic Scenario
2.4 Economic Overview – Global Trade Performance
2.5 Economic Overview – Surge in Inflation
2.6 Political Overview
2.7 Technological Overview
2.8 Demographic Overview
3. Spread of COVID-19
3.1 Worldwide COVID-19 Spread
4. Global Baby Food and Formula Market Performance
4.1 Global Baby Food and Formula Milk Market – Industry Structure
4.2 Global Baby Food and Formula Milk Market Performance
4.2.1 Global Baby Food and Formula Milk Market Revenue – Past and Present Performance
5. Global Baby Food and Formula Milk Market Segmentation
5.1 Global Baby Food and Formula Milk Market: By Product (Milk Formula & Baby Food)
5.2 Global Baby Milk Formula Market Performance
5.2.1 Global Baby Milk Formula Market Revenue and Forecast
5.2.2 Global Baby Milk Formula Market Segmentation – By Starting Milk, Follow-on, Toddlers Milk
5.3 Global Baby Food Market Revenue and Forecast
5.3.1 Global Baby Food Market: By Type (Conventional Baby Food & Organic Baby Food)
5.3.2 Global Baby Food Market Segmentation – By Baby Cereals, Dried Baby Food, Prepared Baby Food, Others
5.4 Global Baby Food and Formula Milk Market: By Distribution Channels
6. Global Baby Food and Formula Milk Market Performance and Forecast by Geography
6.1 Global Baby Food and Formula Milk Market Performance: By Geography (Asia Pacific, Europe, North America, LAMEA)
6.2 Asia Pacific Baby Food and Formula Milk Market Performance and Forecast
6.3 Europe Baby Food and Formula Milk Market Performance and Forecast
6.4 North America Baby Food and Formula Milk Market Performance and Forecast
6.5 Rest of the World Baby Food and Formula Milk Market Performance and Forecast
7. Global Baby Food and Formula Milk Market Future Outlook
7.1 Global Baby Food and Formula Milk Market Future Outlook
8. Global Baby Food and Formula Milk Market – Market Dynamics
8.1 Global Baby Food and Formula Milk Market – Market Trends
8.2 Global Baby Food and Formula Milk Market – Market Drivers
8.3 Global Baby Food and Formula Milk Market – Market Challenges
9. Global Baby Food and Formula Milk Market – Macro Economic Factors
9.1 Macro-Economic Factors - Decline in Fertility Rates
9.2 Macro-Economic Factors - Increase in Household Incomes
9.3 Macro-Economic Factors - E-Commerce
9.4 Macro-Economic Factors – Urbanization
10. Global Baby Food and Formula Milk Market – Trade
10.1 Global Baby Food and Formula Milk Market – Major Importing and Exporting Countries
10.2 Baby Food and Formula Milk Import/Export- Europe
10.3 Baby Food and Formula Milk Import/Export- Oceania (Australia and New Zealand)
10.4 Baby Food and Formula Milk Import/Export- Asia Pacific
10.5 Baby Food and Formula Milk Import/Export- China
10.6 Baby Food and Formula Milk Import/Export- Latin America
10.7 Baby Food and Formula Milk Import/Export- Brazil
11. Global Baby Food and Formula Milk Market – Mergers & Acquisitions
11.1 Mergers & Acquisitions
12. Global Baby Food and Formula Milk Market– Company Profile
12.1 Company Profile – NESTLE S.A
12.2 Company Profile – Danone
12.3 Company Profile – Reckitt Benckiser
12.4 Company Profile – Abbott Laboratories (Abbott)
12.5 Company Profile – Friesland Campina
12.6 Company Profile – Kraft Heinz
Limitations of the Study