Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Baby Food & Infant Formula Market (By Type: Dried Baby Food, Infant Milk Formula, Prepared Baby Food, Others; By Distribution Channel: Health & Beauty Retailers, Online Sales, Supermarkets, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”.
LOS ANGELES, April 09, 2019 (GLOBE NEWSWIRE) -- In 2018, the global baby food & infant formula market was approximately 70 billion USD and is expected to grow at the CAGR of 6.9% during the forecasted period. Some of the major factors behind these projections include increase per capita income, rising awareness among the people and increasing demand for the nutritional supplement.
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Developing region to have a huge opportunity in the Global Baby Food & Infant Formula Market
The report focuses on the regional markets including North America, Europe, China, Japan, Southeast Asia, India, South America, and Middle East and Africa. Asia Pacific is expected to dominate the global baby food & infant formula market during the forecast period 2018-2025, owing to the huge population base coupled with high birth rate. Additionally, increasing prevalence of the malnutrition in the children’s especially in China and India are the major factor contributing in the market growth. Europe accounts for the second leading position in the market followed by the North America. North America is expecting a steady growth for the market owing to the well developed and saturated market. Over 1 million of the babies and children in U.S. intake baby food and infant formula post birth reaching to 2.5 million when they grow till 3 years. U.S. dominates the major share in the North Americas Market.
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Milk Formula to have a fastest growing segment for the global Baby Food & Infant Formula market
The global baby food & infant formula market is segmented based on type, distribution channel and geography. Based on type, the market is segmented into dried baby food, infant milk formula, prepared baby food, and others. Infant milk formula holds the major share in the global market. Various nutritional benefits of the products and increasing demand for the milk related nutritional products will drives the market growth. Increasing birth rates and rising disposable income of the people will boost the market in this region.
On the basis of distribution channel, the baby food & infant formula market is segmented into health & beauty retailers, online sales, supermarkets, and others. Health & beauty retailers channel holds the major share in the global baby food & infant formula. Online sale segment will be the fastest growing segment owing to the increasing attention of the people towards e-commerce.
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On the basis of region, the global baby food & infant formula market is segmented into North America, Europe, China, Japan, Southeast Asia, India, South America, and Middle East and Africa. Asia pacific continues to dominates the global baby food & infant formula market owing to the rising prevalence of new born suffering from nutritional deficiency, increasing preterm birth rate and rising per capita income of the people.
Some of the leading companies operating in the global baby food & infant formula market include Danone, Nestle S.A, Hain Celestial Group, Campbell Soups, Perrigo Company Plc., Mead Johnson & Company, LLC, Abbott Laboratories, Bellamy Organics, Hero Group, and Friesland Campina.
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