Report Overview
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The global baby foods and infant formula market exhibited a size of USD 37520 million in 2022. As per research, the market is poised to reach USD 42250 million by 2028, registering a commendable CAGR of 2.0% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the baby foods and infant formula market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
Baby foods and infant formula products are specially formulated to meet the nutritional needs of infants and young children. These products are essential for parents who seek convenient and nutritious options to ensure the healthy development of their children during their early years. The market encompasses a range of offerings, including milk formula, A2 infant formulas, and infant complementary foods. Milk formula serves as a primary source of nutrition for infants, providing essential vitamins, minerals, and proteins. A2 infant formulas are gaining popularity due to their potential digestive benefits for some infants. Infant complementary foods, on the other hand, offer a transition to solid foods as babies grow, introducing them to a wider variety of nutrients.
The baby foods and infant formula market growth is attributed to several key factors. One primary driver is the increasing number of working mothers worldwide. With more women participating in the workforce, there is a growing demand for convenient and ready-to-use baby food and formula products. These products save parents valuable time and effort in meal preparation while ensuring that their children receive the necessary nutrition. Moreover, as parents become increasingly conscious of the importance of child health and nutrition, they are seeking out products that align with their desire for healthier and more natural alternatives. This growing awareness of the critical role nutrition plays in child development is propelling the demand for these infant formula products that meet higher standards of quality and nutritional value, thereby contributing to the market's sustained growth.
COVID-19 Impact: Demand Surged Due to Increased Concerns about Virus Transmission
The COVID-19 pandemic significantly impacted the baby food and infant formula market, leading to a substantial surge in demand. Parents worldwide became acutely aware of the paramount importance of child health and nutrition during this crisis. Fueled by heightened concerns for their children's well-being, they were eager to invest more in nutritious foods for their babies. This surge in demand stemmed from a collective realization that maintaining optimal infant health was crucial in such times, making nutritious baby foods and infant formula vital components of their pandemic response.
Furthermore, the pandemic disrupted daily routines and lifestyles, prompting parents to seek out convenient and easy-to-prepare foods for their babies. Baby foods and infant formula emerged as ideal solutions, aligning with the need for hassle-free meal options during the pandemic's uncertainties. The simplicity and reliability of these products made them the go-to choice for parents looking to ensure their children receive proper nutrition amid global turmoil.
Additionally, concerns about transmitting the virus through breast milk prompted some parents who were breastfeeding before the pandemic to switch to formula feeding. This shift in feeding practices added to the already heightened demand for infant formula as parents sought safe alternatives to breast milk during these uncertain times. Overall, the surge in demand during the pandemic highlighted the critical role that this nutrition plays in ensuring infant health and nutrition in challenging circumstances.
Latest Trends
"Elevated Focus on Early Childhood Development (ECD) to Enhance Brain Development"
In recent times, a notable trend in the baby food and infant formula market has been a heightened focus on early childhood development (ECD). ECD spans from conception to age 8, a critical period for brain development and cognitive function. Nutrition plays a pivotal role in ECD, and manufacturers of this infant formula are now prioritizing products that offer the essential nutrients required for infants to thrive during this crucial stage.
Manufacturers are actively fortifying their products with nutrients essential for brain development and cognitive function. These nutrients include DHA and ARA, both omega-3 fatty acids known for their importance in brain development. Choline, another vital nutrient, is included to support cognitive function, along with iron and iodine, which contribute to cognitive development. This fortification is a response to growing parental awareness of the significance of early childhood nutrition in promoting healthy cognitive growth.
Furthermore, manufacturers are introducing products tailored specifically to support ECD. Some of these products aid in introducing solid foods to infants, facilitating their transition to more diverse diets. Others are designed to enhance fine motor skills, empower babies to self-feed, and develop essential coordination abilities. This emphasis on ECD is a positive development in the market, offering parents a range of products to help their babies thrive and unlock their full potential.
Segmentation
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- By Type Analysis
According to type, the market can be segmented into milk formula, A2 infant formula, and infant complementary foods.
- By Application Analysis
Based on application, the market can be divided into offline retail and e-commerce.
Driving Factors
"Increasing Number of Working Mothers to Create Product Demand"
The growing global workforce participation of mothers is a significant driving factor for the baby food and infant formula market. As more mothers pursue careers, the demand for convenient and ready-to-use baby food and formula products continues to rise. These products offer a practical solution for busy parents seeking to provide their children with nutritious meals.
"Growing Awareness of Child Health and Nutrition to Boost Market Growth"
The increased awareness among parents about the critical role of nutrition in child development is driving the demand for healthier and more natural baby foods and infant formula products. Parents are increasingly conscious of their children's dietary choices, leading to a preference for products that align with their health and nutrition priorities.
Restraining Factor
"Promotion of Breastfeeding Restrains Demand for Infant Nutrition Alternatives"
The promotion of breastfeeding, a global endeavor endorsed by governments and health organizations, has emerged as a restraining factor for the baby food and infant formula markets. This widespread effort encourages mothers to breastfeed their infants, yielding substantial health benefits for both mothers and babies. Breastfeeding initiatives have led to increased breastfeeding rates in numerous countries, aligning with recommendations from entities like the World Health Organization (WHO) and the American Academy of Pediatrics (AAP).
While the rise in breastfeeding rates is undoubtedly positive for public health, it has introduced a challenge for this market. Some parents, motivated by the promotion of breastfeeding, are opting for breastfeeding as the preferred method of infant nutrition. Although breastfeeding is the preferred choice, it's vital to recognize that not all mothers may be able to breastfeed due to various circumstances. As a result, ensuring access to safe and nutritious baby foods and infant formula remains critical to meeting the diverse needs of parents and infants. This dual focus on promoting breastfeeding and providing alternatives underscores the need for a balanced approach to addressing infant nutrition, posing a restraint to the market.
Regional Insights
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"North America Leads Due to the Region’s Well-Established Market for Baby Products"
As the leading region in the market, North America holds the largest baby foods and infant formula market share. This region has a well-established market for baby products, driven by high disposable incomes and a strong focus on child nutrition. Europe is the second-leading region in the market, with a focus on organic and natural baby food products, driving innovation in the region.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Beingmate (China)
- HiPP (Germany)
- Mead Johnson (U.S.)
- Arla Foods (Denmark)
- FrieslandCampina (Netherlands)
- Morinaga Milk (Japan)
- Yili Group (China)
- Danone (France)
- Abbott (U.S.)
- Nestle (Switzerland)
- China Feihe (China)
- Hero Group (Switzerland)
- Meiji (Japan)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 37520 Million in 2022 |
Market Size Value By |
US$ 42250 Million by 2028 |
Growth Rate |
CAGR of 2% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global baby foods and infant formula market expected to reach by 2028?
The global baby foods and infant formula market is expected to reach USD 42250 million by 2028.
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What CAGR is the baby foods and infant formula market expected to exhibit by 2028?
The baby foods and infant formula market is expected to exhibit a CAGR of 2.0% by 2028.
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What are the driving factors of the baby foods and infant formula market?
The key driving factors include the increasing number of working mothers and growing awareness of child health and nutrition.
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Which are the key players or most dominant companies functioning in the baby foods and infant formula market?
The dominating companies in the baby foods and infant formula market are Beingmate, HiPP, and Mead Johnson.