Baby Food and Infant Formula Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Description
Baby Food and Infant Formula Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global baby food and infant formula market size reached US$ 48.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 67.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.52% during 2023-2028.
Baby food refers to a soft mash of fruits, vegetables and cereals, which is prepared for children between the age of four months to two years. On the other hand, infant formula is manufactured and targeted for babies that are under the age of 12 months. It is considered to be an ideal substitute for breast-milk, owing to the presence of essential nutrients that play a vital role in the infants’ growth. As babies lack developed muscles and teeth for chewing adequately, baby food and infant formula act as the primary source of nutrients for them. Over the years, parents have shifted to packaged foods owing to the convenience and better nutrition offered by these products.
Parents nowadays are becoming more aware of the impact of right nutrition on the child’s overall growth and development. As a result, they are shifting toward baby food and infant formula products that are rich in proteins, vitamins, minerals and carbohydrates. These products are mostly available in the powdered form, which can be mixed with water or milk. Apart from this, due to the increasing consciousness among consumers, manufacturers are introducing organic, premium and minimally-processed baby food and infant formula variants to increase their sales. Furthermore, the burgeoning e-commerce sector is also boosting the sales of these products since it enhances the consumers’ convenience as compared to the conventional retail formats.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global baby food and infant formula market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type and distribution channel.
Breakup by Type:
Milk Formula
Dried Baby Food
Prepared Baby Food
Other Baby Food
Milk formula, also known as infant formula, represents the most preferred product type.
Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Pharmacies
Convenience Stores
Others
Supermarkets and hypermarkets account for majority of the total global market.
Regional Insights:
Asia Pacific
North America
Europe
Latin America
Middle East and Africa
Asia Pacific currently represents the largest market, owing to a large population in the region.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are:
Abbott Nutrition
Nestlé S.A.
Danone S.A.
Mead Johnson & Company, LLC
Kraft Heinz Company
Key Questions Answered in This Report
1. What is the expected growth rate of the global baby food and infant formula market during 2023-2028?
2. What are the key factors driving the global baby food and infant formula market?
3. What has been the impact of COVID-19 on the global baby food and infant formula market?
4. What is the breakup of the global baby food and infant formula market based on the type?
5. What is the breakup of the global baby food and infant formula market based on the distribution channel?
6. What are the key regions in the global baby food and infant formula market?
7. Who are the key companies/players in the global baby food and infant formula market?
The global baby food and infant formula market size reached US$ 48.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 67.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.52% during 2023-2028.
Baby food refers to a soft mash of fruits, vegetables and cereals, which is prepared for children between the age of four months to two years. On the other hand, infant formula is manufactured and targeted for babies that are under the age of 12 months. It is considered to be an ideal substitute for breast-milk, owing to the presence of essential nutrients that play a vital role in the infants’ growth. As babies lack developed muscles and teeth for chewing adequately, baby food and infant formula act as the primary source of nutrients for them. Over the years, parents have shifted to packaged foods owing to the convenience and better nutrition offered by these products.
Parents nowadays are becoming more aware of the impact of right nutrition on the child’s overall growth and development. As a result, they are shifting toward baby food and infant formula products that are rich in proteins, vitamins, minerals and carbohydrates. These products are mostly available in the powdered form, which can be mixed with water or milk. Apart from this, due to the increasing consciousness among consumers, manufacturers are introducing organic, premium and minimally-processed baby food and infant formula variants to increase their sales. Furthermore, the burgeoning e-commerce sector is also boosting the sales of these products since it enhances the consumers’ convenience as compared to the conventional retail formats.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global baby food and infant formula market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type and distribution channel.
Breakup by Type:
Milk Formula
Dried Baby Food
Prepared Baby Food
Other Baby Food
Milk formula, also known as infant formula, represents the most preferred product type.
Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Pharmacies
Convenience Stores
Others
Supermarkets and hypermarkets account for majority of the total global market.
Regional Insights:
Asia Pacific
North America
Europe
Latin America
Middle East and Africa
Asia Pacific currently represents the largest market, owing to a large population in the region.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are:
Abbott Nutrition
Nestlé S.A.
Danone S.A.
Mead Johnson & Company, LLC
Kraft Heinz Company
Key Questions Answered in This Report
1. What is the expected growth rate of the global baby food and infant formula market during 2023-2028?
2. What are the key factors driving the global baby food and infant formula market?
3. What has been the impact of COVID-19 on the global baby food and infant formula market?
4. What is the breakup of the global baby food and infant formula market based on the type?
5. What is the breakup of the global baby food and infant formula market based on the distribution channel?
6. What are the key regions in the global baby food and infant formula market?
7. Who are the key companies/players in the global baby food and infant formula market?
Table of Contents
114 Pages
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Baby Food and Infant Formula Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Breakup by Type
- 5.5 Market Breakup by Distribution Channel
- 5.6 Market Breakup by Region
- 5.7 Market Forecast
- 5.8 SWOT Analysis
- 5.8.1 Overview
- 5.8.2 Strengths
- 5.8.3 Weaknesses
- 5.8.4 Opportunities
- 5.8.5 Threats
- 5.9 Value Chain Analysis
- 5.9.1 Overview
- 5.9.2 Research and Development
- 5.9.3 Raw Material Procurement
- 5.9.4 Manufacturing
- 5.9.5 Marketing and Distribution
- 5.9.6 Retailer/Exporter
- 5.9.7 End-Consumer
- 5.10 Porters Five Forces Analysis
- 5.10.1 Overview
- 5.10.2 Bargaining Power of Buyers
- 5.10.3 Bargaining Power of Suppliers
- 5.10.4 Degree of Competition
- 5.10.5 Threat of New Entrants
- 5.10.6 Threat of Substitutes
- 6 Market Breakup by Type
- 6.1 Milk Formula
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Dried Baby Food
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Prepared Baby Food
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Other Baby Food
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 7 Market Breakup by Distribution Channel
- 7.1 Supermarkets and Hypermarkets
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Pharmacies
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Convenience Stores
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Others
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 8 Market Breakup by Region
- 8.1 Asia Pacific
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 North America
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Europe
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Latin America
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Middle East and Africa
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 9 Imports and Exports
- 9.1 Imports by Major Countries
- 9.2 Exports by Major Countries
- 10 Baby Food and Infant Formula Manufacturing Process
- 10.1 Product Overview
- 10.2 Raw Material Requirements
- 10.3 Manufacturing Process
- 10.4 Key Success and Risk Factors
- 11 Competitive Landscape
- 11.1 Market Structure
- 11.2 Key Players
- 11.3 Profiles of Key Players
- 11.3.1 Abbott Nutrition
- 11.3.1.1 Company Overview
- 11.3.1.2 Description
- 11.3.1.3 Product Portfolio
- 11.3.1.4 Financials
- 11.3.1.5 SWOT Analysis
- 11.3.2 Nestlé S.A.
- 11.3.2.1 Company Overview
- 11.3.2.2 Description
- 11.3.2.3 Product Portfolio
- 11.3.2.4 Financials
- 11.3.2.5 SWOT Analysis
- 11.3.3 Danone S.A.
- 11.3.3.1 Company Overview
- 11.3.3.2 Description
- 11.3.3.3 Product Portfolio
- 11.3.3.4 Financials
- 11.3.3.5 SWOT Analysis
- 11.3.4 Mead Johnson & Company, LLC
- 11.3.4.1 Company Overview
- 11.3.4.2 Description
- 11.3.4.3 Product Portfolio
- 11.3.4.4 Financials
- 11.3.4.5 SWOT Analysis
- 11.3.5 Kraft Heinz Company
- 11.3.5.1 Company Overview
- 11.3.5.2 Description
- 11.3.5.3 Product Portfolio
- 11.3.5.4 Financials
- 11.3.5.5 SWOT Analysis
Pricing
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