Pune, India, May 24, 2021 (GLOBE NEWSWIRE) -- The global newborn baby food market size is projected to reach USD 109.10 billion by 2027, exhibiting a CAGR of 10.6% during the forecast period. The rising adoption of natural baby care products from consumers is fueling the market’s growth, shares Fortune Business Insights™ in its report titled "Newborn Baby Food Market, 2020-2027." As per the report, the market size stood at USD 50.49 billion in 2019.
The rising preference of parents for providing their children with natural, non-processed foods is increasing because of the nutritional value offered by these products. Human milk oligosaccharides are substitutes for breast milk that are used to produce supplements that offer nutrition to infants deprived of mother's milk and cure gut diseases in adults. Further, government regulations regarding the quality control of infant formula products are expected to attract consumer demand. For example, the Food Safety and Standards Authority of India (FSSAI) set up new regulations for maintaining the quality of products used for the development of nutritious foods for infants in medicinal applications and lactose-free milk formula for toddlers.
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Impact of COVID-19
This market is among the least affected during the COVID-19 pandemic, as consumer awareness for the product for boosting immunity and eliminating risks is increasing. As a result, the demand for healthy products is increasing and fueling the newborn baby food market growth. However, due to interruptions in supply chain activities because of the pandemic, it is difficult to predict the state of the market in the immediate future.
Segments
Based on type, the market is divided into infant milk, follow-on milk, and others. On the basis of distribution, it is segregated into hypermarkets/supermarkets, pharmacies/medical stores, specialty stores, and others. It is geographically grouped into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Highlights of the Report
The report analyzes the leading segments and the recent trends of the market. It comprehensively discusses the impact of COVID-19 and the driving and restraining factors. Additionally, it examines the regional developments and the strategies devised by the market's key players.
Drivers and Restraints
Below Average Breastfeeding Rates to Fuel Demand for Formula and Impact Market Positively
The rising cases of insufficient breastfeeding of infants because of lack of awareness coupled with rare diseases such as insufficient glandular tissues (IGT) are factors responsible for boosting the demand for infant formula products. As per Global Breastfeeding Scorecard published by the WHO and UNICEF, the rate of breastfeeding is suboptimal in comparison to the recommended rate and time period of breastfeeding a child. The uneven lifestyle and hectic schedules of people are responsible for driving the product demand because of the preference of several mothers to directly feed their child with supplements.
In addition, prominent players are heavily investing in research and development activities to formulate innovative products. For example, Nestle SA set up a research facility in Ireland in January 2019 to develop innovative dairy and maternal products for global distribution. Further, the increasing number of inadequate lactation cases, the inefficiency of support to females in pre-natal and post-natal stages, and lack of awareness about the importance of breastfeeding are some of the other major factors driving the market growth.
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Regional Insights
High Birth Rates to Foster Asia Pacific Market Growth
Asia Pacific is expected to dominate the newborn baby food market share in the upcoming years due to the rising population and high demand. The market in Asia Pacific is anticipated to exhibit a 10.88% CAGR during the forecast period. China is a dominant consumer of infant formula because of its abolishment of the one-child policy, thereby boosting the demand for the product.
The rising awareness of the benefits provided by infant formulations and the growing population of employed women will boost product demand in the Middle East & Africa. The improving economic condition and exposure to global lifestyle are responsible factors for elevating the market growth.
The North America market size stood at USD 5.59 billion in 2019.
Competitive Landscape
Innovative Product Launches by Competitors to Strengthen Global Market Position
Certain companies are aiming at launching eco-friendly solutions that can garner consumer attention. For example, Nestle S.A. announced new baby food in pouches made from polystyrene material in March 2020. The pouches can be recycled and the material can be obtained easily. In addition, some companies have launched infant formula products that can be consumed easily. For example, Arla Foods Ingredients launched an easily digestible baby food made from whey protein in January 2019. The launch enabled them to mark a strong market position.
Key Industry Development
February 2020: Else Nutrition launched organic 100 percent plant-based infant food created using proprietary almond, tapioca, and buckwheat flavors.
Top 10 companies profiled in the newborn baby food market report are;
- Nestle S.A.
- Danone SA
- Abbott
- Arla Foods amba
- Yili Group
- The Kraft Heinz Company
- Bellamy's Organic
- Perrigo Company plc
- Reckit Benckiser Group plc
- Royal FrieslandCampina N.V.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent Market
- Regulatory Analysis
- Supply Chain Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis (in relation to COVID-19)
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- Impact of COVID-19
- Supply Chain Challenges
- Potential Opportunities due to COVID-19
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- Global Newborn Baby Food Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecasts
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- By Type (Value)
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- Infant Milk
- Follow-on-Milk
- Others
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- By Type (Value)
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- By Distribution Channel (Value)
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- Hypermarkets/Supermarkets
- Pharmacy/Medical Stores
- Specialty Stores
- Others
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- By Region
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- North America
- Europe
- Asia pacific
- South America
- Middle East & Africa
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TOC Continued…!
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