Dublin, Feb. 04, 2022 (GLOBE NEWSWIRE) -- The "Kids Food and Beverages Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The kids food and beverages market is projected to grow at a CAGR of 4.78% to reach US$141.229 billion by 2026, from US$101.853 billion in 2019.
While the marketers target the food and beverages towards the children, they must first gain the approval of the purchaser, i.e., the parents. The rise in child obesity worldwide and diet-related non-communicable diseases are the major drivers driving the growth of the global kid's food and beverages market.
According to a joint study conducted by UNICEF-WHO-WB, 5.7% of children under the age of 5 were overweight in 2020. This number continues to rise in both high and low-income countries.
Countries around the world are searching for new methodologies to regulate food advertising. In Spain, "81% of children drink sugar-sweetened beverages and soft drinks weekly" -an advertising regulatory framework has been established to regulate junk food advertising for children below the age of 12.
Law-makers in the UK, Ireland, and Sweden have taken similar steps to restrict the promotion and advertising of products high in fat, sugar, or salt (HFSS). In the UK, HFFS products cannot be promoted on media channels with an audience of more than 25% under 16, while Ireland adopted a similar provision for channels where over half the audience is under 18. Sweden banned HFFS products promotions entirely during programs targeted at children under the age of 12.
Parent approval can often be achieved through healthy brand positioning and socially responsible efforts. Companies are striving hard to formulate food and beverages which not only appeal to kids but also provide nutritional benefits to appease the changing attitude of parents regarding the suitability to feed the kids of different age groups.
Growth Factors
Economic Conditions
Economic conditions emerge as a factor for growth and demand for kids' food and beverages.The core consumer of kids' food and beverages have one of the highest median household incomes. Dual-income families may be more likely to accommodate children's purchase requests.
Marketing
The most effective marketers will leverage color, shape, and size to appeal to kids. Marketing convinces the kids to ask their parents to buy their product. Nearly all parents, at some point, buy a new food or beverage because their kid asked for it. This provides incentives for advertisers to continue to target the children through promotional efforts.
A study by Pediatrics found that children are "significantly more likely" to choose character-branded foods than non-character-branded foods. Mcdonald's, Kellogg's, M&M are a few of the companies that use mascots or characters to promote their products.
Restraints
Health Concerns
The epidemic of obesity is now being considered as one of the most important public health problems faced in the world. According to WHO, it is estimated that about 39 million children under the age of 5 were overweight or obese in 2019.
Due to the overall increase in child obesity and related disorders, parents are leaning towards fresh food and beverage and products which are healthy, no or low sugar made with organic ingredients.
Government Legislation
Governments around the world are adopting legislation that moderate kid's food advertising, putting food advertisers under heavy scrutiny or outright banning them.
COVID-19 Impact on the Kids Food And Beverages Market
During COVID-19, due to cutting off of food supply and increasing strain due to shortages of labor and agricultural inputs, convenience stores become major players due to low pricing and sales of single-portion meals.
To help parents provide a nutritional meal to their children during work-from-home situations while attending school from their kitchen counters and stuck indoors for months while children food and beverage manufacturers have launched new foods and beverages that contain less sugar, more protein, and more fruits and vegetables.
These snacks served as comfort food for adults as well. COVID-19 provided brands with an opportunity for a fresh approach and to promote nutritious, safe, and sustainable diets for children and their families.
Segmentation:
The kid's food and beverages market has been analyzed through the following segments:
By Product Type
- Cheese
- Snacks
- Fortified foods
- Milk
- Fruits and vegetables
- Others
By Age Group
- 2-3 years
- 4-8 years
- 9-13 years
- 14-18 years
Companies Mentioned
- The Simply Good Foods Company
- Britvic PLC.
- General Mills Inc.
- Nestle
- Kellogg family of companies
- The Kraft Heinz Company
- McKee Foods
- PepsiCo Inc.
- Vitaco
- KRISPY KERNELS Foods
For more information about this report visit https://www.researchandmarkets.com/r/w6m9ij
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