Global Baby Food and Infant Formula Market Drivers/Constraints:
- One of the primary factors that have influenced the demand for baby food and infant formula globally are rising health concerns amongst the parents for the overall development of their baby.
- Nowadays, a large number of baby food and infant formula variants are available in the market ranging from organic to lactose-free products, catering to the varied requirements of the consumers. This acts as another factor driving the sales of baby food and infant formula across the globe.
- Some of the other factors, proliferating the market growth are a surge in female employment, rapid urbanisation, rise in the middle-class population, increasing disposable incomes and a mounting demand for convenient products that can also be used while travelling.
- However, there are several factors that hamper the market growth. For instance, baby food and infant formulas are costlier as compared to milk. Additionally, these products can be difficult to digest and cannot respond to the baby’s changing dietary needs.
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Product Type Insights:
Based on product type, the baby food and infant formula market is segmented as milk formula, dried baby food, prepared baby food and others. Currently, milk formula exhibits a clear dominance in the market.
Distribution Channel Insights:
On the basis of distribution channel, supermarkets and hypermarkets represent the largest segment as they offer a large number of products along with enhanced convenience to the consumers. They are followed by pharmacies, convenient stores and others.
On a geographical front, Asia-Pacific enjoys a leading position in the global baby food and infant formula market accounting for the largest market share. Asia-Pacific is followed by North America, Europe, Latin America, and Middle East and Africa.
The market is highly fragmented with the presence of both small as well as large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
- Abbott Nutrition
- Mead Johnson
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