In a recent published report, Kenneth Research has updated the market report for Baby Food Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Baby Food Market products.
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The baby food market is estimated to represent a global market of USD 68.13 billion by 2017 with growth rate of 5.8%.
The baby food industry consists of retail sale of baby drinks, baby cereals & dry meals, baby wet meals, baby finger foods, first and second stage milk, special formula, and others.
Depending upon types, the industry is categorized as Baby Wet Meals, Baby Cereals & Dry Meals, Toddler Milk, Baby Drinks, First Stage Milk, Special Formula, and others. First stage milk is considered to be the largest product segment, accounting for 36.8% of the overall market value. In terms of distribution channel, the industry is divided into Pharma Stores, Hypermarkets, Food Specialty Stores, and others. Baby food purchase from hypermarkets and pharma stores accounted for the highest share, collectively recorded more than 70% share of the overall industry. In many developed regions, major hypermarkets such as Carrefour, Walmart, and Tesco offers a variety of baby food products, supporting this segment growth.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Baby Food Market, by Types, 2017 (Value%)
Regionally, the market is categorized as North America, Europe, Asia Pacific and Rest of the World. Growth in the global baby food industry is largely being driven by growing demand for these products in Asia Pacific and Middle East and Africa market. Asia Pacific accounted for the highest share of the overall industry. In 2017, this region captured more than 50% share of the worldwide market. North America consist of the U.S. and Canada and has recorded highest revenue. The performance of the North America market is forecast to accelerate owing to the rising new baby birth coupled with growing demand for baby foods. Furthermore,
Key Vendor Analysis
Some of the prominent players in this industry are Groupe Danone, Nestle, Abbott, and Mead Johnson & Company. Collectively, these companies accounted for more than 60% share of the overall market. This market is heavily dominated by well-known brands which hold significant market share. Nestle emerged as the leading player in global baby foods market, generated 26.8% of the market value in 2015. This industry is dominated by large, and powerful incumbents, which increases the competition rivalry significantly. Trying to enter this market with a new brand in the face of such formidable incumbents can be extremely challenging. New entrants face large companies whose economies of scale allow them to compete fiercely on price.
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The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
Traders, Distributors, and Suppliers
Government and Regional Agencies and Research Organizations
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY TYPES
Baby Wet Meals
Baby Cereals & Dry Meals
First Stage Milk
MARKET, BY DISTRIBUTION CHANNEL
Food Specialty Stores
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of the World
Middle East and Africa
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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