The increasing population and growing demand for nutrition are the key growth drivers for the global baby food market. The up surging urbanization and growing disposable income of the people is further expected to propel the growth of the global market during the forecast period.
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In 2014, the Milk formula segment accounted for the largest share in the global market. The prepared baby food segment is growing at the fastest pace. Among the various distribution channels, the supermarkets and hypermarkets was the largest segment in the global market in 2014.
The market in the developing countries is growing at a faster pace, than their developed counterparts. The increasing population of China and India are expected to provide significant growth opportunity for the global market. The growing disposable incomes and improving living standards in these countries are encouraging the consumers to purchase packaged nutritional food for their babies.
The increasing numbers of organized retail is also promoting the growth of global baby food market. The declining birth rate in certain major countries is hindering the growth of the market. The developing markets have higher birth rates, as compared to their developed counterparts.
According to World Bank, the average number of births per 1000 people in developed countries was 11.2 in 2013, whereas it was 16.6 in the developing countries. The market in Latin America and Middle East is also growing at a considerable rate. The NGOs and organizations promoting baby health, such as UNICEF advice mothers to breastfeed their babies until they are at least 6 months old. To some extent, this is restraining the growth of the baby food market.
Nestle dominated the global market in 2014; and it is expected to increase its share during the forecast period. The company has been making both organic as well as inorganic investments. The other major companies in the global market include Danone, Perrigo Company PLC, Mead Johnson & Company LLC, Abbott Laboratories, Hero Group, Bellamy Organics, Hain Celestial Group, Campbell Soups, and Friesland Campina.
The market in the developing countries is growing at a faster pace, than their developed counterparts. The increasing population of China and India are expected to provide significant growth opportunity for the global market. The growing disposable incomes and improving living standards in these countries are encouraging the consumers to purchase packaged nutritional food for their babies.
The increasing numbers of organized retail is also promoting the growth of global baby food market. The declining birth rate in certain major countries is hindering the growth of the market. The developing markets have higher birth rates, as compared to their developed counterparts.
According to World Bank, the average number of births per 1000 people in developed countries was 11.2 in 2013, whereas it was 16.6 in the developing countries. The market in Latin America and Middle East is also growing at a considerable rate. The NGOs and organizations promoting baby health, such as UNICEF advice mothers to breastfeed their babies until they are at least 6 months old. To some extent, this is restraining the growth of the baby food market.
Nestle dominated the global market in 2014; and it is expected to increase its share during the forecast period. The company has been making both organic as well as inorganic investments. The other major companies in the global market include Danone, Perrigo Company PLC, Mead Johnson & Company LLC, Abbott Laboratories, Hero Group, Bellamy Organics, Hain Celestial Group, Campbell Soups, and Friesland Campina.
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