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The Asia Pacific region holds a significant share of the baby food industry owing to rapid urbanisation. The inflating disposable income and hectic lifestyles of parents are increasing the consumption of baby food products in the region. Moreover, the exponential population growth and healthy birth rates are surging the demand for baby products, which is augmenting the industry growth. The expansion of distribution channels such as supermarkets and convenience stores in developing countries is increasing the accessibility of baby foods, hence invigorating the market growth. In addition, China is one of the biggest markets of baby food as the spending on baby products increased due to the two-child policy, therefore contributing to the overall market growth.
Nestlé SA (OTCMKTS: NSRGY), one of the leading companies of the market, announced on May 2021 that NAN PRO 1 Infant Formula would be available in the new pack size offered at BJ’s Wholesale Club. The company also lowered the price on existing pack sizes across partner retailers such as Amazon, Walmart, HEB, Kroger, and ShopRite to further its commitment to ensuring accessibility of quality nutrition for infants. The company, through this measure, is evolving its portfolio and product pricing to meet the demand of parents and retail partners. The new packs would increase the popularity of NAN’s high-quality and easy-to-digest formula by making it more accessible to consumers in the United States. The expansion of distribution channels as well as products portfolio by major companies is expected to augment the market growth.
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The major players in the global market for baby food are Nestlé SA, Abbott Laboratories, Beech-Nut Nutrition Company, Bellamy’s Organic Pty Ltd, Danone S.A., Hero Group, 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.
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