Baby Food Market Growth 2023- Research by Growth Strategy, Growing CAGR of 6.26% Upcoming Trends and Future Opportunities 2032: SPER Market Research
Any soft, easily digested meal that isn’t breast milk is referred to as baby food which is mainly intended for babies to consume in order to supply them the energy and nutrients they need to grow. Babies eat mostly baby food because they do not yet have the teeth or muscles to properly chew food. Over time, parents have turned to packaged foods due to their convenience and superior nutritional value. There is a wider market for baby food because child malnutrition and hunger are real problems in many developing and impoverished nations.
According to SPER Market Research, ‘Baby Food Market Size- By Product, By Packaging, By Baby Category, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ states that the Baby Food Market is estimated to reach USD 148.19 billion by 2032 with a CAGR of 6.26%.
The main drivers of the expansion of the infant food market are the growing knowledge of the increased nutritional needs of babies, organized retail marketing, and a notable increase in the number of working-age women. The primary factors propelling the growth of the infant food industry are the increasing awareness of babies’ heightened nutritional requirements, structured retail advertising, and a noteworthy rise in the proportion of working-age women. The need for high-quality baby food rises as a result of more women entering the workforce, which reduces their time for meal preparation and nursing. Because they give babies with a sufficient amount of nourishment, packaged baby foods are popular in urban areas.
However, the majority of parents would rather prepare meals at home for their babies than buy packaged food, which is impeding the market’s expansion. Furthermore, middle-class consumers’ adoption of baby food items has been hampered by their high cost. Additionally, because they are less aware of these products, people in remote and rural areas prefer home-cooked cuisine. On the other hand, concerns regarding the short shelf life are anticipated to obstruct market expansion. Throughout the projected period, the infant food market is anticipated to have difficulties due to the lack of an appropriate regulatory framework. To guarantee the best possible quality of their products, businesses need to follow safety regulations. Due to competitive pricing, this raises the cost of products and lowers profit margins for businesses. As a result, these elements impede market expansion.
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Impact of COVID-19 on the Global Baby Food Market
During the COVID-19 pandemic, major players in the baby food industry have had strong product demand despite the lockdowns implemented to protect the public. The epidemic has caused people to become increasingly concerned about their own and their children’s health, with multiple studies suggesting that individuals and children with weakened immune systems and low physical fitness are more susceptible to the illness. The global baby food market was adversely affected by the COVID-19 epidemic. In 2020, the demand and prices for baby food items increased in response to low supply and strong demand, which was necessary to combat economic uncertainty. The baby food industry is smaller, meanwhile, as a result of pricing pressure brought on by supply chain disruptions that caused a brief scarcity of supplies.
Baby Food Market Key Players:
In the baby food market, it is projected that North America will hold the largest market share. Some of the key players are Nestle, Asahi group, Hero group, Danone, Kewpie Corp., Abbot and Bulbs Australia Ltd.
Baby Food Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
By Product: Based on the Product, Global Baby Food Market has been segmented as; Baby Food Cereals, Baby Food Snacks, Baby Food Soup and Milk Formula, Frozen Baby Food
By Packaging: Based on the Packaging, Global Baby Food Market is segmented as: Pouches, Jars, Bottles, Others.
By Baby Category: Based on the Baby Category, Global Baby Food Market is segmented as; Infants, Toddlers.
By Distribution Channel: Based on the Distribution Channel, Global Baby Food Market is segmented as; Shopping Malls, Supermarkets, Convenience Stores, Hyper Markets, Online Retail.
By Region: The Baby Food market has been divided into four regions based on geography: North America, Europe, Asia-Pacific (APAC), and the rest of the globe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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