Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Baby Food Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
Global baby food market is anticipated to grow at a compound annual growth rate (CAGR) of 6.8% from 2023 through 2024. The market, which saw an esteemed valuation of $49.26 billion in 2023, is forecasted to climb to an impressive $52.62 billion in 2024, responding to the emergent needs and trends influencing consumer behaviors.
Spirited by the burgeoning demand for organic and naturally-sourced baby food products, this latest analysis underscores the shift towards ingredients that promise wholesomeness and nutrition for infants and young children.
Eying the period leading to 2028, the market size is expected to burgeon to a staggering $68.34 billion, fueled by the escalating popularity of eco-friendly packaging, trending homemade baby food creations, and soaring online sales. Amidst these pivotal trends, the traction gained by vegan-based baby food products exemplifies the industry’s pivot towards plant-focused diets even in early childhood nutrition.
Key Market Drivers and Trends
- Rising Population of Working Mothers: A significant driver of the baby food market growth stems from the ever-increasing population of working women who look to baby food as a reliable nutritional source for their young due to pressing time constraints.
- Expanding Infant Population: The upsurge in birth rates solidifies the demand for baby food. With infants as primary consumers of these products, their growing numbers directly correlate with market expansion.
- Vegan-Based Baby Food Popularity: A heightened awareness surrounding infant nutrition has spurred the introduction of various plant-based products designed to cater to discerning parents and health-conscious consumers.
Regional Insights
The Asia-Pacific region emerged as the leader in the baby food market in 2023 and is projected to maintain its rapid growth momentum throughout the forecast period. This surge is attributed to changing dietary preferences, increasing urbanization, and a heightened focus on infant nutrition within this geographic landscape.
The countries making a pronounced impact within the market include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom, and the United States, anchoring their regional presences as pivotal to the global baby food narrative.
Comprised of sales within cereals, juices, and purees sourced from fruits, vegetables, and cereals, the baby food market is primed for continual evolution, with industry participants geared toward satisfying the nutritive requirements of the world’s youngest consumers.
Providing vital insights into the commercial ecosystem of baby food production and distribution, this analysis stands as an indispensable tool for enterprises aiming to thrive in this sphere, offering an in-depth examination of the current and future landscape of the industry.
Market Leaders
The report identifies global baby food titans such as Abbott Nutrition, Bellamy Organics, Danone SA, and Nestle SA, who are pioneering innovation in response to shifting consumer needs. The analysis indicates that these industry giants are actively engaging in strategic mergers, acquisitions, and product differentiation to secure and expand their market footprint.
A selection of companies mentioned in this report includes
- Abbott Nutrition
- Bellamy Organics
- Danone SA
- Hero MotoCorp
- Mead Johnson & Company LLC
- Nestle SA
- Perrigo Company plc
- Royal FrieslandCampina NV
- Hain Celestial Group Inc.
- Reckitt Benckiser Group plc
- Kraft Heinz Company
- Campbell Soup Company
- Inner Mongolia Yili Industrial Group Company Ltd.
- Bristol-Myers Squibb Company
- Deutsches Milchkontor GmbH
- H.J. Heinz Company
- Inner Mongolia Yili Industrial Group Co Ltd.
- SMA Nutrition
- Aptamil
- HiPP Gmbh & Co
- Ella's Kitchen Group Ltd.
- Holle Baby Food
- BUBS Australia Ltd.
- Happy Tot
- NurturMe
- Peter Rabbit Ltd.
- Pure Spoon
- Serenity Kids Inc.
- Earth's Best Organic
- Sprout Social Inc.
For more information about this report visit https://www.researchandmarkets.com/r/llkqbb
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