According to Future Market Insights (FMI), the baby food market is expected to be valued at US$ 79.9 Billion in 2023 and is anticipated to reach US$ 130.4 Billion by 2033. The market is expected to grow at a CAGR of 5.0% from 2023 to 2033.
Growing need for nutritious diet options for their infants as well as the baby food’s widespread availability in paste, liquid, and powder forms is expected to drive the demand for baby food across the globe. Demand for baby food is expected to surge on the back of expansion of retail marketing and rising malnutrition rates.
Moreover, over the projection period, increased demand for organic baby food and the popularity of enriched baby food products will propel the sales in the market. Further, favorable government programs have increased the adoption of infant formula and baby food, particularly in China, India, and the USA. Consumers’ increased awareness of ingredients and content labels has forced companies to develop clean label manufacturing techniques.
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Key Takeaways from the Report:
- The demand for baby food surge at a CAGR of 5.0% over the assessment period for 2023 and 2033
- The United Kingdom market is projected to grow at a CAGR of 5.4% during the forecast period from 2023 to 2033.
- In terms of product type, the milk formula segment is expected to account for a dominant share of 40.3% of the total market in 2023.
- Based on category, the conventional segment is expected to account for a revenue share of 91.2% in 2023.
- The USA is expected to emerge as the most lucrative market for baby food in North America.
- In terms of distribution channel, the supermarket segment is predicted to create maximum profit in the baby food market.
What are the Factors Limiting the Sales of Baby Food Across the Globe?
There are concerns about the baby food market’s expansion being constrained by its short shelf life. Due to a lack of an effective regulatory framework, it is anticipated that the baby food market share might face challenges during the projection period.
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The market for baby food is significantly constrained by stringent quality controls and severe regulations imposed by governments and food agencies. To guarantee the highest possible level of product quality, companies must follow safety regulations. Aggressive pricing raises the cost of goods, which lowers profit margins for companies. As a result, these elements limit market expansion.
Competitive Landscape:
Key players in the market are focusing on innovation and eco-friendly packaging to cater to the growing demand. Few of the companies are also developing organic baby food and formulas to gain competitive edge in the market.
As per the study, few of the baby food companies are collaborating with e-commerce platforms and leading retailers to expand their customer base and gain revenue. Few of the recent development in the market are provided as follows:
- In July 2022, Danone introduced the first innovative Dairy & Plants Blend infant formula in the market.
- In April 2021, to offer new-borns a high quality vegetarian diet, the Kraft Heinz Firm developed a plant based baby food company. The menu options include dishes like Risotto with chickpeas, Potato baked with garden peas, and Saucy Pasta with beans.
- In June 2022, In its newly completed Michigan facility, Abbott Nutrition Company resumed production of infant formula. As the firm works to solve a national scarcity of the product, production of baby formula has increased at Abbott Nutrition’s Sturgis, Michigan, factory.
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Get More Valuable Insights into the Baby Food Market
Future Market Insights, in its new offering, provides an unbiased analysis of the baby food market presenting historical demand data (2018 to 2022) and forecast statistics for the period from (2023 to 2033). The study divulges compelling insights on the demand based on category (organic, conventional), by product type (dried baby food, ready to feed baby food, milk formula), by distribution channel (supermarkets/hypermarkets, drugstores/ pharmacies, convenience stores, online channels), and region.
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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