DUBLIN--(BUSINESS WIRE)--The "Asia Pacific Baby Food Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific (APAC) baby food market is expected to grow at a CAGR of 5.96%, from an estimated market size of US$50.350 billion in 2021 to US$75.487 billion in 2028.
This growth is being driven on account of several factors, including the growing number of working parents, increasing awareness about the importance of proper nutrition for infants, and the availability of a wide range of baby food products in the market. The infant formula holds the major share of the market, accounting for the bulk of total revenue.
Additionally, the growing demand for organic and natural baby food products in the Asia Pacific is driving the demand for baby food products.
There has been a shift in consumer preferences in recent years, with many parents becoming increasingly concerned about the safety and quality of the food they give to their children. Organic and natural baby food products are considered healthier and safer options, as they are free from harmful chemicals, artificial colors, flavors, and preservatives.
The Asia Pacific baby food market is driven by an increasing population of infants and toddlers.
The prime factor that is predicted to drive the growth of the Asia Pacific baby food market is the growing population of infants and toddlers. As parents become more aware of the importance of providing their infants and toddlers with proper nutrition made with natural, organic, and non-GMO ingredients, the demand is projected to grow. For example, there is a growing demand for organic and natural baby food products, as well as products that are free from allergens and other additives.
Moreover, the growing number of working women and the concerns regarding nutrition in infants and young children are also driving the demand for baby food in the Asia Pacific.
According to the Australian Bureau of Statistics (ABS), Australia's female labor force participation rate has been steadily increasing since the 1970s and reached a record high of 61.8% in May 2021.
The report also states that the proportion of women in full-time employment has been increasing, with over 3.6 million women working full-time in 2020. As more and more mothers are joining the workforce, they are relying on packaged baby food products as a convenient and time-saving solution to ensure that their children receive proper nutrition even when they are away from home.
The milk formula segment is expected to witness robust growth.
In recent years, the Asia-Pacific baby food industry has experienced a tremendous surge in demand for milk-formulated baby food products.
This tendency has been fueled by the increasing number of working parents, rising disposable income, and a growing awareness of the importance of proper nutrition for infants and toddlers. As parents become more conscious of the nutritional needs of their children, they are opting for packaged baby foods that provide a balanced and convenient option for their little ones.
According to Nestle India Limited's 2020 Annual Report, the company's annual sales for milk-based products climbed from 34,981.9 million INR in 2019 to 39,108.2 million INR in 2020. Milk-based infant food contributes a greater percentage of annual sales increase. This trend highlights the increasing demand for milk-formulated baby food products in the Asia Pacific region.
Market Segmentation:
BY PRODUCT TYPE
- Milk Formula
- Dried Baby Food
- Prepared Baby Food
- Others
BY DISTRIBUTION CHANNEL
- Hypermarkets and Supermarkets
- Drugstores and Pharmacies
- Convenience Stores
- Online
- Others
Companies Mentioned
- China Feihe limited
- Nestle S.A
- Danone
- Abbott
- Bellamy's Organic
- Plum Organic
- Scientific Brain Nutraceutical Pvt. Ltd.
- Saipro Biotech Pvt. Ltd.
- Best India Food Processing Pvt Ltd.
- Nutrimed Healthcare
For more information about this report visit https://www.researchandmarkets.com/r/erlnby
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