In 2023, the baby food market is projected to be valued US$ 79.9 billion. The market is expected to reach US$ 130.4 billion by 2033, growing at a 5.0% compound yearly growth rate (CAGR) from 2023 to 2033, the study estimates.
Parental tastes and more retail marketing are fueling the infant food market’s growing demand for nutrient-rich baby food, which is expected to soar. The growing demand for organic and fortified baby food is also fueled by rising public knowledge of clean-label manufacturing techniques and government backing in important areas such as China, India, and the United States.
With a 5.0% compound annual growth rate, the baby food market is predicted to expand quickly over the next few years, rising from an estimated $79.9 billion in 2023 to an estimated $130.4 billion by 2033. The availability of more infant food forms, such as paste, liquid, and powder, and the rising demand for nutrient-dense solutions are the main reasons propelling this rise. The need for baby food is growing due to factors such expanding retail marketing and addressing dietary issues.
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The infant food industry is anticipated to be valued US$ 79.9 billion in 2023 and US$ 130.4 billion by 2033, according to Future industry Insights (FMI). From 2023 to 2033, the market is projected to expand at a 5.0% CAGR.
The market for baby food is predicted to grow as a result of parents’ growing need for nutrient-rich diet options for their newborns as well as the availability of baby food in paste, liquid, and powder forms. The growth of retail marketing and the increase in occurrences of malnutrition are projected to drive up demand for baby food.
Additionally, during the projected period, the demand for organic baby food will increase, as will the popularity of fortified baby food products, which will fuel market growth. The use of baby food and formula has also expanded, especially in China, India, and the USA, thanks to supportive government programmes. Consumers’ increased awareness of ingredient and content labels has compelled businesses to develop clean-label production techniques.
Key Takeaways from the Report:
- The demand for baby food surge at a CAGR of 5.0% over the assessment period for 2023 and 2033
- The United Kingdom market is projected to grow at a CAGR of 5.4% during the forecast period from 2023 to 2033.
- In terms of product type, the milk formula segment is expected to account for a dominant share of 40.3% of the total market in 2023.
- Based on category, the conventional segment is expected to account for a revenue share of 91.2% in 2023.
- The USA is expected to emerge as the most lucrative market for baby food in North America.
- In terms of distribution channel, the supermarket segment is predicted to create maximum profit in the baby food industry
What are the Factors Limiting the Sales of Baby Food Across the Globe?
There are concerns about the baby food industry expansion being constrained by its short shelf life. Due to a lack of an effective regulatory framework, it is anticipated that the baby food industry share might face challenges during the projection period.
The market for baby food is significantly constrained by stringent quality controls and severe regulations imposed by governments and food agencies. To guarantee the highest possible level of product quality, companies must follow safety regulations. Aggressive pricing raises the cost of goods, which lowers profit margins for companies. As a result, these elements limit market expansion.
Competitive Landscape:
Key players in the market are focusing on innovation and eco-friendly packaging to cater to the growing demand. Few of the companies are also developing organic baby food and formulas to gain competitive edge in the market.
As per the study, few of the baby food companies are collaborating with e-commerce platforms and leading retailers to expand their customer base and gain revenue. Few of the recent development in the market are provided as follows:
- In July 2022, Danone introduced the first innovative Dairy & Plants Blend infant formula in the market.
- In April 2021, to offer new-borns a high quality vegetarian diet, the Kraft Heinz Firm developed a plant based baby food company. The menu options include dishes like Risotto with chickpeas, Potato baked with garden peas, and Saucy Pasta with beans.
- In June 2022, In its newly completed Michigan facility, Abbott Nutrition Company resumed production of infant formula. As the firm works to solve a national scarcity of the product, production of baby formula has increased at Abbott Nutrition’s Sturgis, Michigan, factory.
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Baby Food Market by Category
By Category:
- Organic
- Conventional
By Type:
- Milk Formula
- Dried Baby Food
- Ready to Feed Baby Food
- Other Types
By Distribution Channel:
- Drugstores/ Pharmacies
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Channels
- Other Distribution Channels
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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