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Global Baby Food and Infant Formula Market to Grow at a CAGR of 6% During 2021-2026, Aided by the Growing Demand for Packaged and Convenient Baby Food Products

According to a new report by EMR titled, ‘Global Baby Food and Infant Formula Market Report and Forecast 2021-2026’, the global market for baby food and infant formula stood at a value of USD 56.1 billion in 2020. The industry is further expected to grow at a CAGR of 6% between 2021 and 2026 to attain a value of USD 78.9 billion by 2026.

The global baby food and infant formula industry is being driven by the growing demand for packaged and convenient baby food products, with a changing consumer lifestyle. As more women join the workforce, the demand for nutritious and healthy infant formulations is increasing. Rising consumer disposable incomes and increased product launch by manufacturers are expected to aid the growth of the baby food and infant formula industry globally. The Asia Pacific region is one of the leading markets in the industry, accounting for a significant share. The growth of the industry in the region can be attributed to the presence of a large population and the growing demand from emerging economies like China and India. Further, in terms of import and export, China and the Netherlands are the biggest importer and exporter in the global market. Some of the major players in the company include Nestlé SA (SWX: NESN), Abbott Nutrition, a part of Abbott Laboratories (NYSE: ABT).

The increased consumer demand for organic products is influencing manufacturers to enhance their products range. Nestlé India’s Ceregrow Organic Selection, which is an organic cereal with milk for the children of age 2 to 5 years, gives the little ones a rich exploration of textures, tastes, and organic goodness. The product has successfully received ‘India Organic’ and ‘Jaivik Bharat’ certification logos as the farms, suppliers, and value chain involved in its production process are all ‘Organic Certified’. Further, the growing investment and increased research and development activities by the key players are expected to aid the industry further. In October 2017, Abbott became the first company to launch the infant products with HMOs (Human Milk Oligosaccharides), which are the third most abundant solid component in breast milk. The company, in Mexico, announced the launch of its most innovative products in child nutrition, containing HMOs, aiming to support immune and digestive health and bring this innovation to the world. Such developments are expected to aid the growth of the global market for baby food and infant formula in the coming years.

Market Breakup by Types, Distribution Channels, and Regions:

By type, the global baby food and infant formula industry can be divided into milk formula, dried baby food, prepared baby food, and other baby food.
On the basis of distribution channel, the industry is segmented into supermarkets and hypermarkets, pharmacies, and convenience stores, among others.
Region-wise, the global market for baby food and infant formula can be divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for baby food and infant formula is being driven by the growing consumer awareness regarding child nutrition and changing lifestyles, which is leading to an increased demand for convenient and nutritious products.
  • The growing global population and rising disposable incomes, particularly in the emerging economies, is providing further impetus to the industry. 
  • The increasing preference for organic products is significantly contributing to the industry growth. 
  • Increased investment and growing R&D by the key players, focusing on launching improved product range, is further aiding the growth of the baby food and infant formula industry globally.

Key Offerings of the Report:

  • The EMR report gives a detailed analysis of the global market for baby food and infant formula for the periods (2016-2020) and (2021-2026). 
  • The report offers historical (2016-2020) and forecast (2021-2026) market information for the types, distribution channels, and major regions of baby food and infant formula.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global baby food and infant formula market are Abbott Nutrition, Nestlé S.A., Danone S.A., and Mead Johnson & Company, LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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