Baby Food and Infant Formula Market Expected to Cross US$ 74.4 Billion by 2024

Global Baby Food and Infant Formula Market Research Report and Forecast Report Edition: 2019 Copyright © IMARC Service Pvt Ltd. All Rights Reserved

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Global Baby Food and Infant Formula Market Overview: The latest report by IMARC Group, titles “Baby Food and Infant Formula Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024�, finds that the global baby food and infant formula market size reached US$ 52.9 Billion in 2018. Infant formula is and artificially synthesized substitute or breast milk used to feed babies under twelve months of age. Baby food, on the other hand, is soft and mashed food that caters to kids of age up to two years. Baby food and infant formula are fortifies with several additives like vitamins, prebiotics and fatty acids to improve their nutrient quotient. Parents widely utilize these products for feeding their children as they aid in fulfilling their nutritional requirements, and consequently contribute to their physical growth an development.

Baby Food and Infant Formula Market Trends Rising awareness among parents about the importance of health and nutrition is the key factor driving the market growth. With growing urbanization and changing lifestyles, the shift toward convenienceoriented packaged baby food products has been witnessed worldwide.

Report Description and Highlights

157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Million US$

in Million US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

The sales of baby food and infant formula products through online retail channels has further influenced the market growth positively since they offer the customers enhanced convenience at a better price point as compared to traditional retailers. On account of these factors, the market value is expected to reach US$ 74.4 Billion by 2024, expanding at a CAGR of 5.7% during 20192024.

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Report Description

Moreover, the increasing participation of women in the workforce, and the consequent rise in their purchasing power is another key trend driving the demand for infant nutrition products. In addition to this, modernization and rising prosperity have led to the introduction of niche products categories made with high-quality, minimally processed, organic or natural ingredients.

Key Market Segmentation: Market Segmentation by Type • • • •

Milk Formula Dried Baby Food Prepared Baby Food Other Baby Food

On the basis of the product type, milk formula represents the most preferred product. Other major segments include dried baby food, prepared baby food and others.

Market Segmentation by Distribution Channel

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Report Description • • • •

Supermarkets and Hypermarkets Pharmacies Convenience Stores Others

Based on the distribution channel, the market has been divided into supermarkets and hypermarkets, pharmacies, convenience stores, and others. Amongst these, supermarkets and hypermarkets exhibit a clear dominance in the market since these stores offer a large selection of products.

Market Segmentation by Region • • • • •

North America Europe Asia Pacific Latin America Middle East and Africa

Based on the region, the market has been categorized into Asia Pacific, North America, Europe, Latin America, and Middle East and Africa. At present, Asia Pacific holds the leading position in the market.

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Report Description Competitive Landscape:

The competitive landscape of the market has also been examined with some of the key players.

• • • • •

Abbott Nutrition Nestle Danone Mead Johnson Kraft Heinz

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of Clients leading corporates, governments, and ourPartial ClientsListworld's institutions

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