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Baby Food and Infant Formula Market Research Study, Size, Share, Global Demand by Forecast to 2024

Market Insight
Global Baby Food and Infant Formula Market is presumed to experience a moderate CAGR during the assessment period (2017-2024) owing to the rising per capita disposable income, asserts Market Research Future (MRFR). Baby food and infant formula are referred to as food products prepared for babies till the age of two. Infant formula serves as a substitute for mother’s milk and possesses similar nutritional attributes. These products act as the major source of nutrients and calories for the babies as they lack developed teeth and muscles to chew food effectively. Parents across the globe have shifted to packaged baby food products as they are convenient and offer better nutrition.
Drivers and Constraints Impacting the Market
With rising per capita disposable income across the globe, the market for Baby Food and Infant Formula is considered to expand. With increasing per capita disposable income, the desire to purchase quality products among the consumers have increased. Infant formula comprises several nutrients such as fats, carbohydrates, vitamins, proteins, minerals, and others which are fed to babies for overall development. As the women working population is increasing, the need for baby food and infant formula is also increasing. Besides, growth in middle-class population, changing lifestyle, increasing awareness about high nutritional content, and rise in disposable income in countries such as Indonesia, India, and China are further contributing to the growth of the market.
Industry Updates
November 07, 2018: Danone and Nestlé are among the infant-formula manufacturers with UK operations to sign up to a new industry code of practice. The British Specialist Nutrition Association has developed The Infant Nutrition Industry Code in order to open up transparency into baby-formula producers, with HiPP, Abbott, and Mead Johnson the other signatories. It will be regulated by independent Code of Practice Authority, which will further investigate any complaints found to be in breach of the Code.
Major Key Players
The noteworthy players operating the Global Market are Mead Johnson Nutrition (U.S.), Cow & Gate (U.K), Danalac (Switzerland), Nestle (Switzerland), Abbott Nutrition (U.S.), HiPP Organic (U.K), Kraft Foods Inc (U.S.)
Segment Analysis
The global baby food & infant formula market has been segmented on the basis of infant formula type, baby food type, packaging, and region.
By mode of baby food type, the global baby food & infant formula market has been segmented into dried baby food, eat, milk formula, and others. Among these, milk formula is considered to witness the maximum growth rate during the assessment period.
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Regional Insights
Geographically, Baby Food and Infant Formula Market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World.
Among all the regions, Asia Pacific is estimated to hold the major market share and retain its dominance in the coming years due to the growing health-conscious population coupled with increasing healthy economic growth. Moreover, the presence of large population between 0 to 4 years is likely to contribute towards the market growth. Moreover, with the growth in female participation in labor force, the market is expected to flourish in this region. Also, rising disposable income, high living standards, and busy lifestyle in economies such as Indonesia, South Korea, China, and India, are some of the major factors augmenting the market growth.