Baby Food Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

The global baby food market has experienced significant growth, driven by rising awareness of the nutritional benefits associated with baby food products. By 2024, the market is valued at $90.65 billion and is projected to reach $134.2 billion by 2031, reflecting a compound annual growth rate (CAGR) of 5.80%.

Initially, baby food was prepared at home, but the emergence of commercially available baby foods has gained popularity over time, especially due to the growing need for convenience. Several factors such as urbanization, increasing disposable incomes, and changing lifestyles have contributed to the rise in demand for commercial baby products. As more mothers return to work after childbirth, there has been a noticeable shift towards time-saving solutions, making baby food products a go-to option for working parents. Additionally, advancements in baby food innovations and packaging have further enhanced market growth.

Despite the growing popularity, the global baby food market faces certain challenges, including a decline in global birth rates and falling fertility rates, which could hinder future market expansion. However, baby food manufacturers are making efforts to address these challenges by introducing innovations in their products, enhancing packaging, and leveraging e-commerce platforms to boost sales. As a result, the market is expected to continue expanding steadily in the years to come.

Key Trends in the Baby Food Market

Rising Women Employment and Its Impact on Baby Food Preferences

One of the significant drivers for the baby food market is the increasing rate of women entering the workforce. This trend has had a profound impact on consumer behavior, especially among working mothers who seek convenient and nutritious food options for their babies. Modern parents, particularly those in the workforce, are inclined toward prepared baby food products that save time while providing essential nutrition for their infants. With a growing number of women balancing careers and family life, the demand for convenient baby food options is expected to rise, boosting market growth.

Growing Concerns Over Childhood Obesity and Baby Food Safety

The rising rates of childhood obesity have raised concerns over the nutritional content of baby food products. Health organizations have noted a steady increase in the number of overweight infants and young children, particularly in developing countries. Studies have shown that the early introduction of solid foods and high sugar content in baby snacks can contribute to childhood obesity. These health risks have challenged baby food manufacturers to improve the quality and safety of their products. As consumers become more conscious of their children's health, the demand for baby foods that are both nutritious and safe is likely to increase.

Baby Food Innovations to Meet Evolving Consumer Demands

The baby food industry has witnessed a wave of innovations, driven by changing consumer preferences and advancements in the food industry. Companies have diversified their product offerings, introducing a wide range of baby food items such as baby juices, cereals, snacks, and organic options. Packaging innovations have also played a crucial role in the industry's growth. Consumers now have access to a variety of packaging options, including canned foods, glass jars, plastic containers, and foldable pouches. These advancements not only improve convenience but also cater to the growing demand for sustainable and eco-friendly packaging solutions.

Growing Popularity of Organic Baby Food

As health awareness increases, parents are becoming more cautious about the quality of the food they provide for their babies. Organic baby foods, which are free from additives, preservatives, chemicals, and hormones, have gained significant traction in the market. These products are perceived as healthier alternatives to conventional baby food, leading to a surge in demand. The stringent regulations surrounding the production, packaging, and labeling of organic baby food further boost consumer confidence. As a result, organic baby food is expected to continue gaining popularity, contributing to the overall growth of the baby food market.

Declining Global Birth Rates and Its Impact on Baby Food Demand

Despite the positive growth trends, the baby food market faces a significant challenge in the form of declining birth rates globally. Several factors, including economic developments, lifestyle changes, and higher life expectancy, have contributed to lower fertility rates. In many countries, the average age of women at childbirth has increased, and there is a growing trend toward having fewer children. This shift in demographic patterns is likely to have a negative impact on the demand for baby food products in the future. As birth rates continue to decline, baby food manufacturers may need to explore new markets and strategies to sustain growth.

Regional Insights: The European Baby Food Market

Europe is a prominent market for baby food, with a strong presence of leading players and stringent regulations governing the production and labeling of baby food products. These regulations ensure that baby food products meet high safety and quality standards, which contributes to consumer trust. The European market is expected to witness steady growth, supported by rising health awareness among parents and the availability of a wide range of baby food products. The region's strong regulatory framework and growing consumer demand for safe and nutritious baby food products make it a key player in the global market.

Category-wise Insights

High Revenue Generation from Infant Formula

Infant formula is a significant product segment in the baby food market, accounting for a substantial portion of global sales. Infant formula provides essential nutrition for infants and is considered a convenient option for parents, particularly working mothers. These products are easy to prepare and offer a balanced diet, making them a popular choice among parents who seek convenient and reliable nutrition for their babies. The high revenue generated from infant formula is expected to continue driving growth in this segment.

Sales Channels: Modern Trade and E-commerce Lead the Way

Modern trade, including supermarkets and hypermarkets, is a major sales channel for baby food products. This distribution channel accounts for a significant portion of global sales, as parents often prefer purchasing baby food from trusted retail outlets. However, e-commerce has emerged as a rapidly growing sales channel, driven by the increasing popularity of online shopping. Many consumers now prefer the convenience of purchasing baby food online, especially in regions where e-commerce platforms are well-established. The rise of e-commerce is expected to play a key role in boosting baby food sales in the coming years.

Competitive Analysis

The global baby food market is highly competitive, with several multinational companies dominating the market. These players invest heavily in research and development to introduce new products and improve their production processes. The influx of capital into branding and marketing strategies helps companies attract new customers and retain existing ones. Leading players in the market are also focusing on expanding their product portfolios and optimizing supply chains to meet the growing demand for baby food products.

Key companies profiled

Nestle S.A
Danone
Mead Johnson & Company, LLC
Abbott Laboratories
Cargill Inc
The Kraft Heinz Company
The Hain Celestial Group, Inc
Perrigo Company
Hero Group A.G
Bellamy's Australia Limited
Campbell soups Company
DSM
Arla Foods amba
Mondelez International, Inc
GlaxoSmithKline Plc
PepsiCo, Inc
Koninklijke Friesland Campina N.V
Dean Foods Company
Inner Mongolia Yili Industrial Group Co., Ltd
Want Want Holdings Ltd
General Mills, Inc
TreeHouse Foods, Inc
Beingmate Group Co.,Ltd
Beijing Sanyuan Foods Co., Ltd
McCallum Industries Ltd
Parmalat S.p.A
Kiddylicious
Baby Gourmet Foods Inc
Bobobaby, Inc
China Huishan Dairy Holdings Company Limited

Baby Food Industry Research by Category

By Nature:

Organic
Non-Organic

By Product Type:

Infant formula
Baby Juice
Baby Cereals
Bottled Baby Food
Baby Snacks
Canned Baby Food
Others

By Sales Channel:

Modern Trade
Speciality Stores
Drug Stores
Online Retailers
Other Sales Channel

By Region:

North America
Latin America
Europe
South Asia & Pacific
East Asia
Middle East & Africa

1. Executive Summary

1.1. Global Baby Food Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2024
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. PESTLE Analysis

3. Global Baby Food Market Outlook, 2019 - 2031

3.1. Global Baby Food Market Outlook, by Nature, Value (US$ Bn), 2019 - 2031
- 3.1.1. Key Highlights
  - 3.1.1.1. Organic
  - 3.1.1.2. Non-Organic
3.2. Global Baby Food Market Outlook, by Product Type, Value (US$ Bn), 2019 - 2031
- 3.2.1. Key Highlights
  - 3.2.1.1. Infant formula
  - 3.2.1.2. Baby Juice
  - 3.2.1.3. Baby Cereals
  - 3.2.1.4. Bottled Baby Food
  - 3.2.1.5. Baby Snacks
  - 3.2.1.6. Canned Baby Food
  - 3.2.1.7. Others
3.3. Global Baby Food Market Outlook, by Sales Channel, Value (US$ Bn), 2019 - 2031
- 3.3.1. Key Highlights
  - 3.3.1.1. Modern Trade
  - 3.3.1.2. Speciality Stores
  - 3.3.1.3. Drug Stores
  - 3.3.1.4. Online Retailers
  - 3.3.1.5. Other Sales Channel
3.4. Global Baby Food Market Outlook, by Region, Value (US$ Bn), 2019 - 2031
- 3.4.1. Key Highlights
  - 3.4.1.1. North America
  - 3.4.1.2. Europe
  - 3.4.1.3. Asia Pacific
  - 3.4.1.4. Latin America
  - 3.4.1.5. Middle East & Africa

4. North America Baby Food Market Outlook, 2019 - 2031

4.1. North America Baby Food Market Outlook, by Nature, Value (US$ Bn), 2019 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Organic
  - 4.1.1.2. Non-Organic
4.2. North America Baby Food Market Outlook, by Product Type, Value (US$ Bn), 2019 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Infant formula
  - 4.2.1.2. Baby Juice
  - 4.2.1.3. Baby Cereals
  - 4.2.1.4. Bottled Baby Food
  - 4.2.1.5. Baby Snacks
  - 4.2.1.6. Canned Baby Food
  - 4.2.1.7. Others
4.3. North America Baby Food Market Outlook, by Sales Channel, Value (US$ Bn), 2019 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. Modern Trade
  - 4.3.1.2. Speciality Stores
  - 4.3.1.3. Drug Stores
  - 4.3.1.4. Online Retailers
  - 4.3.1.5. Other Sales Channel
- 4.3.2. BPS Analysis/Market Attractiveness Analysis
4.4. North America Baby Food Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 4.4.1. Key Highlights
  - 4.4.1.1. U.S. Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 4.4.1.2. U.S. Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 4.4.1.3. U.S. Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
  - 4.4.1.4. Canada Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 4.4.1.5. Canada Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 4.4.1.6. Canada Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
- 4.4.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Baby Food Market Outlook, 2019 - 2031

5.1. Europe Baby Food Market Outlook, by Nature, Value (US$ Bn), 2019 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Organic
  - 5.1.1.2. Non-Organic
5.2. Europe Baby Food Market Outlook, by Product Type, Value (US$ Bn), 2019 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Infant formula
  - 5.2.1.2. Baby Juice
  - 5.2.1.3. Baby Cereals
  - 5.2.1.4. Bottled Baby Food
  - 5.2.1.5. Baby Snacks
  - 5.2.1.6. Canned Baby Food
  - 5.2.1.7. Others
5.3. Europe Baby Food Market Outlook, by Sales Channel, Value (US$ Bn), 2019 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Modern Trade
  - 5.3.1.2. Speciality Stores
  - 5.3.1.3. Drug Stores
  - 5.3.1.4. Online Retailers
  - 5.3.1.5. Other Sales Channel
- 5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Europe Baby Food Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 5.4.1. Key Highlights
  - 5.4.1.1. Germany Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 5.4.1.2. Germany Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 5.4.1.3. Germany Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
  - 5.4.1.4. U.K. Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 5.4.1.5. U.K. Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 5.4.1.6. U.K. Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
  - 5.4.1.7. France Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 5.4.1.8. France Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 5.4.1.9. France Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
  - 5.4.1.10. Italy Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 5.4.1.11. Italy Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 5.4.1.12. Italy Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
  - 5.4.1.13. Turkey Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 5.4.1.14. Turkey Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 5.4.1.15. Turkey Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
  - 5.4.1.16. Russia Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 5.4.1.17. Russia Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 5.4.1.18. Russia Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
  - 5.4.1.19. Rest of Europe Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 5.4.1.20. Rest of Europe Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 5.4.1.21. Rest of Europe Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
- 5.4.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Baby Food Market Outlook, 2019 - 2031

6.1. Asia Pacific Baby Food Market Outlook, by Nature, Value (US$ Bn), 2019 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Organic
  - 6.1.1.2. Non-Organic
6.2. Asia Pacific Baby Food Market Outlook, by Product Type, Value (US$ Bn), 2019 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Infant formula
  - 6.2.1.2. Baby Juice
  - 6.2.1.3. Baby Cereals
  - 6.2.1.4. Bottled Baby Food
  - 6.2.1.5. Baby Snacks
  - 6.2.1.6. Canned Baby Food
  - 6.2.1.7. Others
6.3. Asia Pacific Baby Food Market Outlook, by Sales Channel, Value (US$ Bn), 2019 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. Modern Trade
  - 6.3.1.2. Speciality Stores
  - 6.3.1.3. Drug Stores
  - 6.3.1.4. Online Retailers
  - 6.3.1.5. Other Sales Channel
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Asia Pacific Baby Food Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 6.4.1. Key Highlights
  - 6.4.1.1. China Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 6.4.1.2. China Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 6.4.1.3. China Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
  - 6.4.1.4. Japan Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 6.4.1.5. Japan Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 6.4.1.6. Japan Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
  - 6.4.1.7. South Korea Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 6.4.1.8. South Korea Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 6.4.1.9. South Korea Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
  - 6.4.1.10. India Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 6.4.1.11. India Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 6.4.1.12. India Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
  - 6.4.1.13. Southeast Asia Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 6.4.1.14. Southeast Asia Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 6.4.1.15. Southeast Asia Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
  - 6.4.1.16. Rest of Asia Pacific Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 6.4.1.17. Rest of Asia Pacific Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 6.4.1.18. Rest of Asia Pacific Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
- 6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Baby Food Market Outlook, 2019 - 2031

7.1. Latin America Baby Food Market Outlook, by Nature, Value (US$ Bn), 2019 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Organic
  - 7.1.1.2. Non-Organic
7.2. Latin America Baby Food Market Outlook, by Product Type, Value (US$ Bn), 2019 - 2031
- 7.2.1. Key Highlights
  - 7.2.1.1. Infant formula
  - 7.2.1.2. Baby Juice
  - 7.2.1.3. Baby Cereals
  - 7.2.1.4. Bottled Baby Food
  - 7.2.1.5. Baby Snacks
  - 7.2.1.6. Canned Baby Food
  - 7.2.1.7. Others
7.3. Latin America Baby Food Market Outlook, by Sales Channel, Value (US$ Bn), 2019 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Modern Trade
  - 7.3.1.2. Speciality Stores
  - 7.3.1.3. Drug Stores
  - 7.3.1.4. Online Retailers
  - 7.3.1.5. Other Sales Channel
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Latin America Baby Food Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 7.4.1. Key Highlights
  - 7.4.1.1. Brazil Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 7.4.1.2. Brazil Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 7.4.1.3. Brazil Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
  - 7.4.1.4. Mexico Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 7.4.1.5. Mexico Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 7.4.1.6. Mexico Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
  - 7.4.1.7. Rest of Latin America Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 7.4.1.8. Rest of Latin America Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 7.4.1.9. Rest of Latin America Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
- 7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Baby Food Market Outlook, 2019 - 2031

8.1. Middle East & Africa Baby Food Market Outlook, by Nature, Value (US$ Bn), 2019 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Organic
  - 8.1.1.2. Non-Organic
8.2. Middle East & Africa Baby Food Market Outlook, by Product Type, Value (US$ Bn), 2019 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Infant formula
  - 8.2.1.2. Baby Juice
  - 8.2.1.3. Baby Cereals
  - 8.2.1.4. Bottled Baby Food
  - 8.2.1.5. Baby Snacks
  - 8.2.1.6. Canned Baby Food
  - 8.2.1.7. Others
8.3. Middle East & Africa Baby Food Market Outlook, by Sales Channel, Value (US$ Bn), 2019 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. Modern Trade
  - 8.3.1.2. Speciality Stores
  - 8.3.1.3. Drug Stores
  - 8.3.1.4. Online Retailers
  - 8.3.1.5. Other Sales Channel
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Middle East & Africa Baby Food Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 8.4.1. Key Highlights
  - 8.4.1.1. GCC Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 8.4.1.2. GCC Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 8.4.1.3. GCC Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
  - 8.4.1.4. South Africa Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 8.4.1.5. South Africa Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 8.4.1.6. South Africa Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
  - 8.4.1.7. Rest of Middle East & Africa Baby Food Market by Nature, Value (US$ Bn), 2019 - 2031
  - 8.4.1.8. Rest of Middle East & Africa Baby Food Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 8.4.1.9. Rest of Middle East & Africa Baby Food Market by Sales Channel, Value (US$ Bn), 2019 - 2031
- 8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Company Market Share Analysis, 2024
9.2. Competitive Dashboard
9.3. Company Profiles
- 9.3.1. Nestle S.A
  - 9.3.1.1. Company Overview
  - 9.3.1.2. Product Portfolio
  - 9.3.1.3. Financial Overview
  - 9.3.1.4. Business Strategies and Development
- 9.3.2. Danone
  - 9.3.2.1. Company Overview
  - 9.3.2.2. Product Portfolio
  - 9.3.2.3. Financial Overview
  - 9.3.2.4. Business Strategies and Development
- 9.3.3. Mead Johnson & Company, LLC
  - 9.3.3.1. Company Overview
  - 9.3.3.2. Product Portfolio
  - 9.3.3.3. Financial Overview
  - 9.3.3.4. Business Strategies and Development
- 9.3.4. Abbott Laboratories
  - 9.3.4.1. Company Overview
  - 9.3.4.2. Product Portfolio
  - 9.3.4.3. Financial Overview
  - 9.3.4.4. Business Strategies and Development
- 9.3.5. Cargill Inc
  - 9.3.5.1. Company Overview
  - 9.3.5.2. Product Portfolio
  - 9.3.5.3. Financial Overview
  - 9.3.5.4. Business Strategies and Development
- 9.3.6. The Kraft Heinz Company
  - 9.3.6.1. Company Overview
  - 9.3.6.2. Product Portfolio
  - 9.3.6.3. Financial Overview
  - 9.3.6.4. Business Strategies and Development
- 9.3.7. The Hain Celestial Group, Inc
  - 9.3.7.1. Company Overview
  - 9.3.7.2. Product Portfolio
  - 9.3.7.3. Financial Overview
  - 9.3.7.4. Business Strategies and Development
- 9.3.8. Perrigo Company
  - 9.3.8.1. Company Overview
  - 9.3.8.2. Product Portfolio
  - 9.3.8.3. Financial Overview
  - 9.3.8.4. Business Strategies and Development
- 9.3.9. Bellamy's Australia Limited
  - 9.3.9.1. Company Overview
  - 9.3.9.2. Product Portfolio
  - 9.3.9.3. Financial Overview
  - 9.3.9.4. Business Strategies and Development
- 9.3.10. DSM
  - 9.3.10.1. Company Overview
  - 9.3.10.2. Product Portfolio
  - 9.3.10.3. Financial Overview
  - 9.3.10.4. Business Strategies and Development
- 9.3.11. Others
  - 9.3.11.1. Company Overview
  - 9.3.11.2. Product Portfolio
  - 9.3.11.3. Financial Overview
  - 9.3.11.4. Business Strategies and Development

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations