Global Baby Food and Infant Formula Market Analysis and Forecast 2023

Bharat Book Bureau Provides the Trending Market Research Report on “Global Baby Food and Infant Formula Market by Manufacturers, Regions, Type and Application, Forecast to 2023”under Food & Beverage category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.

Baby food is any soft, easily consumed food, other than breastmilk or infant formula, which is made specifically for babies. The food comes in multiple varieties and tastes.

Scope of the Report:

This report focuses on the Baby Food and Infant Formula in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.

Over 80% of the world’s population lives in the developing world, and while global birthrates have steadily decreased across all regions and economic levels over the past 55 years, they remain highest in developing countries, according to the World Bank. In addition, rapid urbanization, the growth of the middle class and rising rates of female participation in the labor force in many developing markets has encouraged the adoption of convenience-oriented lifestyles, making baby food and infant formula more desirable.

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Baby food and infant formula has various types, including infant formula, baby snacks, baby cereals, bottled & canned baby food and so on. Among the product family, infant formula accounts for the largest market share, which held about 71.04% market share in 2015.

As for the consumption region, Asia-Pacifc is the largest consumer, whose consumption was 2150 K MT in 2015, accounting for 41.23% share globally. The followers are Europe and USA, holding about 22.69% and 17.36% share respectively.

Marketing channels of baby food and infant formula is also various. Hypermarket, supermarket, drug stores, specialty stores, online sales are the major marketing channels of baby food and infant formula. In the recent few years, with the rapid development of internet, online shopping platform becomes popular. More and more moms prefer to buy baby food and infant formula through the platform, which impacts the traditional marketing channels largely.

Since baby is a special group, the quality of baby food and infant formula is under restrict regulations. Once some brand of baby food and infant formula has been exposed of quality issues, it will receive a deadly sales impact. Therefore, sometimes the baby food and infant formula manufacturers’ business will vary largely.

With the changing life style and more attention on babies, the baby food and infant formula market is estimated to continue to expand. And Asia-Pacific regions will continue to be the largest contributor to the industry.

The worldwide market for Baby Food and Infant Formula is expected to grow at a CAGR of roughly 3.7% over the next five years, will reach 78300 million US$ in 2023, from 63000 million US$ in 2017, according to a new GIR (Global Info Research) study.

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https://www.bharatbook.com/MarketReports/Global-Baby-Food-and-Infant-Formula-Market-by-Manufacturers-Regions-Type-and-Application-Forecast-to-2023/1145311

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