Baby food products are specially formulated and processed foods for infants between four months to two years of age. The benefits of baby food include easy digestion, balanced nutrition, and convenience for caregivers. The Global Baby Food Market Size is estimated to be valued at US$ 58.15 Mn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The demand for nutritious and wholesome baby food products is increasing among health-conscious parents and caregivers. This is a key market trend driving the growth of the baby food market. With rising awareness about the importance of proper nutrition during infancy, parents are increasingly opting for commercial baby food which provides balanced nutrition and helps in the healthy development of babies. The availability of different varieties, formats, and organic options is further fueling the adoption of baby food products.
Segment Analysis
The global baby food market is dominated by prepared baby food sub segment. As per a report, around 50% of the baby food sold in 2021 were prepared baby food such as, cereals, pouches, purees etc. This is because prepared baby food is much more convenient for working parents to feed their babies. The preparation and cooking time for prepared baby food is almost zero which makes it very suitable for busy parents and babies.
Key Takeaways
The global baby food market is expected to witness high growth over the forecast period of 2024 to 2031. Regionally, Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Countries like China and India have comparatively higher birth rates which is contributing to the growth of baby food market in Asia Pacific.
Regional analysis:
The Asia Pacific region holds around 35% share of the global baby food market and is expected to continue dominating the market in terms of both value and volume. Factors such as rising birth rates, increasing participation of women in workforce coupled with higher disposable incomes are expected to drive strong growth in Asia Pacific baby food market over the coming years. China being the most populated country dominates the Asia Pacific baby food market while India is projected to grow at the fastest pace during forecast period.
Key players:
Key players operating in the baby food market are Echosens, HISKY Medical Technologies Co., Ltd., and SMEDA Medical Co., Ltd. Echosens is a global leader in liver diagnostic having a wide range of products for liver fibrosis assessment. HISKY Medical Technologies Co., Ltd offers variety of portable ultrasound scanners for different healthcare applications including obstetrics and gynecology. SMEDA Medical Co., Ltd specializes in developing medical devices for obstetrics, gynecology and neonatology field.
Get More Insights Here: https://www.newswirestats.com/baby-food-market-size-share-and-growth-forecast-2023-2030/
