PUBLISHER: Allied Market Research | PRODUCT CODE: 1344465
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344465
According to a new report published by Allied Market Research, titled, "Baby Food Market," The baby food market was valued at $67.8 billion in 2021, and is estimated to reach $116.5 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031.
In addition, rise in awareness for increased nutritional need of babies, organized retail marketing channels, and surge in female workforce boost the market for baby food. However, food safety concerns, decline in birth rates, and practice of feeding home-cooked baby food act as the key restraining factors of the global market.
The global baby food market is segmented into product type, distribution channel, category, and region. Depending on product type, the market is segregated into dried baby food, milk formula, prepared baby food, and others. Presently, the milk formula segment leads the market with maximum share in terms of revenue. However, the prepared baby food segment is expected to register significant growth during the forecast period, owing to increase in working population and time constraints for food preparation. Moreover, the sale of milk formulation is restricted in some of the countries in Asia-Pacific, whereas the sale of prepared baby food is majorly confined to the developed countries. Furthermore, the prepared baby food segment is anticipated to gain high traction during the forecast period, owing to the growing population in Asia-Pacific.
Supermarkets, hypermarkets, small grocery retailers, and health & beauty retailers are some of the key distribution channels operating in the baby food industry. Supermarket is the most preferred distribution channel among consumers, followed by health & beauty retailer. Small grocery and health and beauty retailers hold major share in the Asian market. Small grocery retailers segment accounts for comparatively low market share in the global baby food market, but it is forecast to witness rapid growth during the forecast period. The other distribution channels include discounters, non-grocery retailers, and non-store retailers.
By category, organic and conventional are the segment considered in the baby food market. The organic segment is anticipated to witness significant growth rate during the forecast period.