Infant Food Market is Projected to reach US$ 114,241.5 Mn by 2027 | CAGR: 6.4%: Astute Analytica
NEW DELHI, March 10, 2022 /PRNewswire/ -- According to the study undertaken by Astute Analytica, the Global Infant Food Market is estimated to witness a rise in revenue from US$ 77,837.3 Mn in 2021 to US$ 114,241.5 Mn by 2027. The market is registering a CAGR of 6.4% during the forecast period 2022-2027. The growing impetus of the infant food market is attributed to an increase in demand for ready to use baby food and the rising demand in developing economies.
Growing urbanization, rise in number of working women and changing lifestyles have increased the demand for packaged baby foods in different societies and cultures. Infant food is considered to be an ideal substitute for breast milk, owing to the presence of essential nutrients that play a vital role in the infants' growth. Parents nowadays are becoming more aware of the impact of correct nutrition on the child's overall growth and development. Apart from this, due to the increasing consciousness among consumers, manufacturers are introducing organic, premium and minimally processed baby food and infant formula variants to increase their sales. Organic infant food is an emerging opportunity in the market. However, growing demand for homemade food will hamper market growth.
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Segmental Analysis
Baby Food Cereal leads the Global Infant Food Product Market
Based on product type, the global infant food product market is segmented into bottled baby food, baby food cereals, baby food snacks, baby food soup, frozen baby food, and ready-to-feed baby food. Among these, baby food cereal has the highest share in the global infant food market in 2021 and is further estimated to continue its dominance over the forecast period. The rising demand for organic based baby food cereal is estimated to propel segmental growth during the forecast period.
Milk Products holds the highest market share in terms of ingredients.
In terms of ingredients, the infant food market is segmented into cereals, fruits, meat products, milk products, and vegetables. Milk products segment holds the highest market share in 2021 and is estimated to have the highest CAGR during the projection period. Increasing incidence of lactating issues in infants has influenced increased adoption of milk-based baby food products.
Organic segment has the fastest CAGR in the infant food market over the projection period
Based on category, the global infant food market is segmented into organic and conventional. Among these, conventional segment has the highest share in the market in 2021; however, the organic segment is projected to have the fastest CAGR during the forecast period. Organic baby food is gaining popularity due to strong concern among parents towards added chemicals, which in turn, is expected to propel market growth during the forecast period.
Offline distribution channel has the highest share in the infant food market
Offline distribution channels such as hypermarkets, supermarkets, and convenience stores, among others, holds the highest share in the global infant food market in 2021. However, the online distribution channel is registering the fastest CAGR over the projection period. The rising number of e-commerce sectors globally is leading to the rise in the online distribution channel in infant food market.
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Asia Pacific dominates the Global Infant Food Market in 2021
Asia Pacific held the major share in the global infant food market and is estimated to grow at the highest CAGR during the forecast period. China is the highest shareholder country in the region and India is estimated to have the highest CAGR during the forecast period. This is due to the rising population in APAC countries such as India & China and due to rising awareness among parents about the nutritional qualities of infant food.
Competitive Landscape
- Nestle is a Swiss multinational company established in 1866 by the merger of a Swiss Milk Company and Nestle. The company offers a wide range of infant food products under the brand name of NaturNes and Gerber. Also, it also offers infant food products through various acquired brands such as SMA® Nutrition.
- Beech-Nut manufactures and sells a wide variety of natural, organic, and non-GMO fruit and veggie purees, cereals, and snacks, ensuring that these real foods are accessible to babies across the United States. Beech-Nut Nutrition is owned by the Hero Group, a private consumer goods company based in Lenzburg, Switzerland.
- Ella's Kitchen is a company that makes organic baby and toddler food, sold in supermarkets internationally including in the UK, China, Norway, Denmark, Sweden, Ireland, Iceland, Finland, Belgium, Netherlands, Romania, Canada and the United States. It is a subsidiary of The Hain Celestial Group, Inc. The company makes and markets a line of organic foods and snacks designed for preschool-aged children in squeezable packs.
- Sprout Foods, Inc. was launched by a small group to develop wholesome and organic baby food products. It launched the very first baby food in a pouch to provide on-the-go convenience to parents. It expanded its portfolio to toddler meals and, by popular demand, introduced Toddler Snacks and nutritious smoothies and snacks for sprouts.
- Mead Johnson develops the markets safe, high quality, innovative products that help meet the nutritional needs of infants and children. With more than 70 products in over 50 countries, its products are trusted by millions of parents and healthcare professionals around the world. The company's portfolio of brands includes Enfamil, Embargos, Cocomilk, Lactum and others to encourage healthy growth, support brain development and address common feeding issues.
Strategies Adopted by Key Market Players
- In 2020, Bubs Organic, LLC raised US$ 28.3 million to accelerate global growth.
- In October 2020, Nutricia announced its acquisition with Real Food Blends, to bring even more unique and nutritious options to children and adults with feeding Tubes.
- In October 2020, Little Dish launched 11 new products to highlight required nutrition for kids, maintain sustainability and to offer various flavored combinations with interesting options in kid's snacks.
- In 2020, Sprouts Foods announced to add more veggies to its baby food to help prevent obesity in later life.
- Hain Celestial Group, in January 2021, announced several new innovations including expanded product lines, updated packaging and a fresh advertising campaign.
Segmentation Overview
The following are the different segments of the Global Infant Food Market:
- By Product Type segment of the Global Infant Food Market is sub-segmented into:
- Bottled Baby Food
- Baby Food Cereals
- Baby Food Snacks
- Baby Food Soup
- Frozen Baby Food
- Ready to Feed Baby Food
- By Ingredient segment of the Global Infant Food Market is sub-segmented into:
- Cereals
- Fruits
- Meat Products
- Milk Products
- Vegetables
- By Category segment of the Global Infant Food Market is sub-segmented into:
- Organic
- Conventional
- By Distribution Channel segment of the Global Infant Food Market is sub-segmented into:
- Offline
- Hypermarkets
- Supermarkets
- Convenience Stores
- Drugstores/ Pharmacies
- Online
- By Region Segment of the Global Infant Food Market is sub-segmented into:
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The UK
- Germany
- France
- Italy
- Spain
- Poland
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Argentina
- Brazil
- Rest of South America
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