全球嬰兒營養市場:各配方奶粉類型，地區 - 成長，趨勢，預測(2018年∼2023年)
Infant Nutrition Market - Growth, Trends, and Forecast (2019 - 2024)
|出版商||Mordor Intelligence LLP||商品編碼||391467|
|出版日期||內容資訊||英文 115 Pages
|全球嬰兒營養市場:各配方奶粉類型，地區 - 成長，趨勢，預測(2018年∼2023年) Infant Nutrition Market - Growth, Trends, and Forecast (2019 - 2024)|
|出版日期: 2019年02月01日||內容資訊: 英文 115 Pages||
The global infant nutrition market was valued at USD 71.40 billion in 2018 and is estimated to reach USD 98.90 billion in 2024, witnessing a CAGR of 5.58%. There are certain factors propelling the growth of the market, which include the increase in working mother population, higher spending on baby health, and the rising demand for organic baby food.
At present, parents are found spending more on their babies compared to the previous years, owing to several social factors. Presently, children are deemed more worthy of protection than they used to be. According to a number of surveys, parents spend a high amount of money on their babies, sometimes out of guilt, out of shame, or out of social anxiety.
Over the recent years, there has been a remarkable rise that has been observed in the number of young working mothers. This has worked as a key factor in propelling the growth of the infant food nutrition market, as these working mothers are majorly dependent on processed infant nutrition products. Therefore, organic food has been observed to be one of the fastest-growing sectors in the food industry overall, experiencing double-digit growth in most developed markets, compared with a single-digit growth rate for conventional food products. The global demand is increasing, owing to factors, such as the desire of parents to feed their babies healthier foods.
In addition, factors, such as the growth of the middle class, rapid urbanization, and rising rates of female participation in the labor force in many developing markets have encouraged the adoption of convenience-oriented lifestyles, further making prepared baby foods and baby formula more desirable. The increasing middle-class population in the emerging and developing countries has opened new horizons in the infant nutrition market, owing to the fact that the need for products, compatible with a working mom's schedule, is growing.
In the next few years, it is expected that the global infant nutrition market will show healthy growth. In the last few years, the sale of infant nutrition products in developed countries has shown a single-digit growth rate.
Infant nutrition is a substitute food for breast milk. The initial six months after birth plays a very crucial role in the development of a child, wherein ensuring optimal nutrition during this period is of paramount importance. Breast milk is highly nutritious and contains carbohydrates, proteins, fats, minerals, and vitamins imperative for the development of the child. However, in certain cases, the mother may not be able to produce breast milk or may not be able to breastfeed the baby due to other reasons. In such cases, infant nutrition products act as a suitable substitute.
Prepared Food is Expected to hold its Highest Market Share in the Baby Food Segment
In the product type segmentation of the infant nutrition market, the prepared food sub-segment under the baby food segment is believed to have the largest market size and is expected to witness a CAGR of 6.51% during the forecast period.
The market size of the baby food segment can be attributed to the current busy lifestyle of people and the emergence of a variety of organic and healthy food for infants. The extensive sale of prepared food is mainly attributed to its ease of access. As the manufacturers of prepared food, most companies are now coming up with more organic food products, which is free from preservatives and residues of fertilizers and pesticides. However, there are also some parents who prefer to prepare the baby's food by themselves, so as to be assured of hygiene and nutrition.
Therefore there is also a demand for the dried food that is on a rise, majorly due to the increasing trust of parents upon the quality of food, which is provided by the companies and increasing improvisation that is continuously being done in the food products by the manufacturers. There are other baby foods segment of the market majorly inclusive of the juices and products that are rich in omega-3 DHA and arachidonic acid (ARA), along with other nutritional products.
North America is expected to witness the highest CAGR throughout the forecast period
The presence of high per capita healthcare expenditure, coupled with high awareness levels and rising disposable income, is contributing to the growth of the market in the region. The average age at which American women are giving birth has been rising as young women are increasingly prioritizing their careers over family planning. Hence, a rise in parental concerns, with respect to baby's health and nutrition, is driving the growth of the North American regional market. There are also consumers, especially in the developed countries, who are willing to pay for premium amounts for such products, owing to the general perception of these products being more healthy and safe as compared to conventional products.
There are stringent regulatory scenarios that create high entry barriers for new entrants in the market. As per the data of the China Certification and Accreditation Administration (CNCA), after implementation of quality and safety standards in 2013, out of over 800 foreign brands selling their product of infant formula, only 94 have received approval to sell their products in China, while only two-thirds of the local Chinese manufacturers have received production permit renewals.