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How the Coronavirus Threat has Taken Global Business into Uncharted Waters
Increasing incidences of malnutrition among children has spurred the global demand for nutritional baby foods. The overall food and beverage industry has witnessed a steady rise in the production of baby foods over the past few years. Parents with traditional approach towards providing nutrition to their babies are shifting to baby foods. However, companies producing baby foods are being strictly regulated by global bodies that check the quality of these products. Moreover, with developments in production of baby foods, companies are facing challenges in remaining cost-effective.
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Persistence Market Research projects that by the end of 2026, around US$ 101.8 Bn worth of baby foods will be sold across the globe. According to its report, the global market for baby foods will expand steadily at 5.5% CAGR during the forecast period, 2017-2026. While the demand for baby foods will remain high throughout the forecast period, meeting those demands will remain a key challenge for market players. Through 2026, the baby foods market in the Asia-Pacific excluding Japan (APEJ) region will witness highest growth. By the end of the forecast period, the APEJ baby foods market is pegged to reach US$ 55 Bn value, accounting for more than half of the overall global baby food revenues.
Infant Formulas – Top-selling Products in Global Baby Foods Market
In 2017, nearly US$ 40 Bn worth of infant formulas are expected to be sold globally. The report estimates that the demand for infant formulas will gain traction for providing wholesome nutrition to toddlers. Since several research studies emphasize the key role of proper nutrition during the first few months of child birth, companies are actively focusing on expanding their production capacities for infant formula. On the other hand, baby juice products are expected to register fastest revenue growth in the global baby foods market during the forecast period.
Modern Trade Outlets to Register High Sales of Non-Organic Baby Foods
With respect to the nature of the food products, the demand for organic baby foods will witness a sluggish growth in 2017 and beyond. High prices of organic baby foods, coupled with the impediments faced by companies in procuring organic raw ingredients, will also factor in the dipping sales of organic baby foods. The report reveals that modern trade outlets will be the leading sales channel for baby foods in the global market. This infers that a majority of baby foods sold in the global market will be sold through modern trade outlets, and will be non-organic in nature.
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Key Producers of Baby Foods
The report has further profiled leading producers of baby foods, which include :
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