Increasing population of women professionals, awareness on adequate nutrition, and lifestyle change and increasing birth rate are projected to drive the growth of the baby food market in the future.
Baby foods are ready-to-eat foods for infants between the age group of four to six months until two years. Dried cereals, milk formula, prepared baby food and other are the major baby food available in the market. Rising economic trends in emerging markets of Asia-Pacific and Europe, increasing women participation at workplace, increasing awareness about adequate nutrition, growing urbanization and organized retailing are the major baby food market trends which spurs the market growth. Food safety concerns, increased awareness of breast-feeding and low birth rates in some region are some of the restraining factors that limits the growth of the global baby food industry.
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The global baby food market size was valued at $67.3 billion in 2019, and is projected to reach at $96.3 billion by 2027, growing at a CAGR of 6.0% from 2021 to 2027.
Presently, milk formula segment leads the market with 60.18% share in terms of revenue. Several manufacturers promote these formulas as a supplement to breast milk. Hence, companies are launching milk formulations in different tastes and flavors to increase their brand awareness among consumers. Growing health and nutrition concern for babies and limited time for food preparations are the major factors driving the baby food market growth.
The key players profiled in this report include Nestle, Danone, Mead Johnson, Abbott Laboratories, Hero-Group, Perrigo Company, Bellamy Organics, Hain Celestial Group, Campbell soups and Friesland Campina.
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