Analyst Perspective
The global baby food market is estimated to register a CAGR of ~6%. The market reflects a broader trend in health, with parents seeking products that help in early child development and also help them boost their immune system. The adaptability of customers and the availability of baby food in various forms in the market are boosting the demand for baby food. Shifting parents' preference towards homemade food can be a restraining factor for the market. Stringent government policies regarding product sales can impact the market. Increased disposable income and urbanization contribute to the overall growth of the baby food market.
Market Overview
The baby food market has many products, including infant formula, baby cereals, snacks, etc. These products are enriched with vitamins, minerals, and other nutrients required for infants, as many children suffer from malnutrition and hunger issues in developing and underdeveloped countries, which leads to the baby food market growth. In recent times, demand for organic baby food has also been increased. The baby food product market is competitive due to the regional and domestic players available in the markets of different countries.
Market Drivers
- Consumer awareness and Lifestyle changes
Parents are becoming more aware of infants' nutritional requirements and the importance of early child development. The rise in urbanization and the hectic lifestyle of parents have led to a higher demand for convenient baby food.
- Rise in infant Population and innovation in baby products
An increase in the infant population is considered a major driving factor for the growth of the baby food market. Packaging innovation, such as pouches with spouts for easy feeding and proportion control, plays a significant role in product differentiation. Introducing new flavors with new formulas is also driving the market's growth.
In addition, increasing disposable incomes, growing concerns about child well-being, and an increase in the number of working women are also growth-driven factors for the growth of the baby food market.
REGIONAL FRAMEWORK
The global baby food market is segmented based on product type, category, and distribution channel. The global market is segmented based on product type: milk formula, baby cereal/porridge, and others. The baby food market is segmented based on category into organic and conventional. The market is segmented based on distribution channels into supermarkets and hypermarkets, convenience stores, online retail, and others.
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The report provides a detailed industry overview, which includes qualitative and quantitative information. It gives information on an overview and forecast of the global market based on several segments. It also provides information on market size and forecast estimates from 2020 to 2031 concerning five major regions: North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South & Central America. The market by region is also sub-segmented by respective countries and segments. The baby food market report covers an analysis and forecast of eighteen countries globally and the prevailing trends and opportunities in the region.
The report analyses factors affecting the baby food market from both the demand and supply side. Furthermore, it evaluates market dynamics during the forecast period, i.e., drivers, challenges, opportunities, and future trends. The report also provides an extensive Porter's Five Forces analysis highlighting factors affecting the baby food market in these regions.
Key Players
The reports cover vital organic and inorganic growth strategy developments in the baby food market. Various companies concentrate on organic growth strategies such as product launches, approvals, patents, and others. Inorganic growth strategies activities observed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the development of the business and customer base of market players. The market players in the baby food market are anticipated to have lucrative growth opportunities with the rising demand for organic and healthy products in the global market.
The report includes key companies' profiles, SWOT analysis, and baby food market strategies. The report also focuses on leading market players with information including company profiles, components, and services offered, financial information for the last three years, and critical development in the past five years.
Below is a list of companies engaged in the baby food market.
- Nestlé, S.A.
- Kendal Nutricare
- Danone S.A.
- Abbott Laboratories
- HiPP Group
- Hero Group
- Mead Johnson and Company, LLC
- Mama Made Food
- Kraft Heinz Foods Company
- Ella's Kitchen Limited
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
The List of Companies
1.Abbott Laboratories
2.Bellamy's Organic Pty Ltd
3.Bristol-Myers Squibb Company
4.Danone S.A.
5.FrieslandCampina DOMO
6.Hain Celestial Group
7.Hero Group
8.Mead Johnson and Company, LLC.
9.Nestle S.A.
10.Perrigo Company plc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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