Global Baby Food Market Share Poised for Steady Growth: Projected to Reach USD 137 Billion by 2034 : FMI Report

The global baby food market is on a robust growth trajectory, with projections indicating it will reach an impressive valuation of USD 137 billion by 2034, up from an estimated USD 84 billion in 2024. This significant growth is expected to be driven by a steady compound annual growth rate (CAGR) of 5.0% over the forecast period.

The market’s upward momentum is largely fueled by a rapidly expanding global population and an increasing acceptance of baby foods among parents. These products, meticulously designed to cater to the nutritional needs of infants and toddlers, are becoming indispensable as more women join the workforce and the demand for convenient, ready-to-feed options rises. The sector’s resilience and adaptability to new trends and consumer preferences are key drivers behind its sustained growth.

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Several pivotal factors contribute to the anticipated expansion of the baby food market:

With the global population continually on the rise, the number of babies needing specialized nutrition grows accordingly. Urbanization further amplifies this demand as modern lifestyles necessitate convenient feeding solutions.

As more women enter the workforce, there is a heightened reliance on commercial baby food products, which offer convenience without compromising on nutrition.

The shift towards organic baby foods reflects rising health concerns and an increasing awareness of the benefits these products offer. Parents are now more willing than ever to invest in high-quality, organic baby foods to ensure their children’s health and well-being.

Manufacturers are continuously innovating, offering products fortified with essential vitamins, minerals, antioxidants, prebiotics, and omega fatty acids. This not only meets the nutritional needs of infants but also caters to specific health concerns such as allergies and dietary preferences like gluten-free options.

Key Takeaways from the Baby Food Market Report:

• The baby food market is anticipated to total USD 137 billion in 2034.
• Based on product type, the milk formula category is set to account for a value share of 1% in 2024.
• By distribution channel, the supermarkets/hypermarkets segment will likely grow at 9% CAGR through 2034.
• Based on category, the organic segment will likely total USD 48.0 billion by 2034.
• Total revenue in the United States is expected to reach USD 9.2 billion in 2024.
• Baby food demand in the United Kingdom is anticipated to rise at 0% CAGR through 2034.
• India is poised to register a CAGR of 5% between 2024 and 2034.

Related Report of Food and Beverages Domain:

• The size of the worldwide fish oil market forecast was predicted to be USD 12.3 billionin 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8% from 2022 to 2032 to reach USD 23.8 billion.
• The global fish nutrition market is on a trajectory of rapid growth, with an anticipated valuation of USD 5.38 billionby 2033, fueled by a compound annual growth rate (CAGR) of 3% from 2023.
• The global fish protein market is valued at USD 1 billionin 2023 and is projected to double and reach USD 2 billion by 2033. The market is expected to register a CAGR of 2%, during the forecast period.

Who is Winning?

Ausnutria Dairy Corporation Ltd, Abbott Laboratories, The Kraft Heinz Company, Danone S.A., Kewpie Corporation, Reckitt Benckiser Group plc, Nestlé SA, HiPP, Yili Group, Royal Friesland Campina NV, Feihe International Inc., Hero Group, Shijiazhuang Junlebao Dairy Co. Ltd, Bellamy’s Organic Mead Johnson & Company, LLC are the key manufacturers of baby foods listed in the report.

Top players are focusing on developing novel baby food products to meet different requirements of consumers. They also implement strategies like partnerships, advertisements, partnerships, distribution agreements, acquisitions, and mergers to gain a competitive edge in the market.

For instance,

• In January 2024, Danone India introduced AptaGrow, a new toddler nutrition line that aims to provide health benefits to as many children as possible.

Baby Food Market Segmentation

By Product Type:

• Milk Formula
• Ready to Feed Baby Food
• Dried Baby Food
• Other Types

By Category:

• Organic
• Conventional

By Distribution Channel:

• Drugstores/ Pharmacies
• Supermarkets/Hypermarkets
• Convenience Stores
• Online Channels
• Other Distribution Channels

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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