The Baby Food Market is estimated to be valued at US$ 50.47 Bn or US$ 50.47 Billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Baby food refers to any soft, easily consumed food other than breastmilk or infant formula that is made specifically for human babies aged between four months to two years. The major types of baby foods available in the market include infant cereals, bottled food, frozen foods, and baby snacks. They are available in various forms such as jarred, pouched, canned, and so on. Baby foods provide crucial nutrition to support growth and development during the crucial early months and years of a baby’s life.
Market Dynamics:
Growing working women population globally has augmented the demand for easy-to-prepare and ready-to-eat baby foods. According to the United Nations, around 73 million more women joined the global workforce between 1990 and 2017. Working mothers prefer baby foods as they help save time required for food preparation. Moreover, rapid urbanization is encouraging nuclear families, where both parents are working professionals with limited time for homemade baby meals. This is further fueling the sales of convenient baby foods across urban areas. Additionally, rising awareness about the crucial role of proper infant nutrition is stimulating parents to opt for branded baby foods containing vitamins, proteins, and other essential nutrients required for a baby’s development. Also, growing demand for organic and clean label products is pushing manufacturers to offer natural and chemical-free baby foods made from organic ingredients. Many players are introducing product lines free from artificial colors, flavors, preservatives, and genetically modified ingredients to cater to health-conscious parents.
Segment Analysis
The Global Baby Food Market Size is dominated by prepared baby food segment. According to recent reports, the prepared baby food segment accounted for around 60% of the overall market share in 2021. This is because prepared baby foods are convenient to feed, easy to digest and provide balanced nutrition to babies. Within prepared baby foods, dried baby food is the largest sub-segment as ingredients are processed at high temperature to kill harmful microbes and remove moisture, ensuring longer shelf life.
PEST Analysis
Political: The baby food market is regulated by international and domestic laws regarding food safety, labeling and advertising. Many countries have stringent regulations to ensure baby foods contain optimal nutrition levels and are free from harmful additives.
Economic: With rising incomes and awareness about baby health, the spending on baby food is increasing globally. Developing nations in Asia Pacific and Latin America are major drivers of market growth due to high birth rates.
Social: Young working parents prefer convenience foods that save time on preparation. Social media influences purchase decisions as new products are extensively promoted. Educated mothers are more aware about benefits of homemade and organic baby foods.
Technological: New processing technologies help manufacturers produce baby foods with minimal loss of nutrients. Advanced packaging increases shelf life while catering to convenience. Traceability systems ensure product quality and safety.
Key Takeaways
The global baby food market size was valued at US$ 50.47 billion in 2023 and is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing number of working women and busy lifestyles.
Regionally, Asia Pacific market is expected to witness the fastest growth supported by large population, rising income and health awareness in major countries like India and China.
Key players operating in the baby food market are Nestle S.A., Groupe Danone, Abbott Laboratories, Hain Celestial Group, Kraft Heinz Company, Hero Group, Morinaga Milk Industry Co. Ltd., and Cargill Inc. Nestle SA dominated the global market with products like Nestle Cerelac and Nestle Nan Pro in 2021 leveraging its wide distribution channels and brand portfolio of infant nutrition offerings.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it