Baby Drinks Market Size, Market Growth:
Baby Drinks Market was worth USD 28.1 billion in 2019 and estimated to be growing at a CAGR of 10.50%, to reach USD 46.3 billion by 2024.
Baby Drinks Market Overview:
Infant formula, baby juice, and baby electrolyte contain vitamins and nutrients for the development of the baby. Although physicians recommend breastfeeding to infants, infant formula can be used as an alternative due to the similar nutrient contents.
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Baby Drinks Market Drivers and Restraints:
The market is driven by an increase in the number of women professionals. Moreover, changes in lifestyle, rise in middle-class population, and growth in disposable income in the emerging economies, such as India, China, Indonesia, among others, have propelled the market growth. However, concerns related to food safety and the decline in global birth rate are expected to hamper the market growth.
Baby Drinks Market Geographical Analysis:
Based on geography, the market is analyzed under various regions, namely North America, Europe, Asia-Pacific, and Rest of the World. The Baby Drinks market was dominated by the Asia Pacific due to increasing population and increased female participation in the labor force.
Baby Drinks Market Key Players:
The key players profiled in the report include Nestle S.A., Heinz and Hain Celestial Group, Abbott Laboratories, Mead Johnson Nutrition Company, LLC., Danone, Beingmate Group Co. Ltd., HiPP GmbH & Co., Campbell Soup Company, Arla Foods, and D. Signstore.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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