Global Baby Food and Infant Formula Market size is projected to account for approximately USD 42.18 billion by 2024 and is expected to grow at a CAGR of 7.78% during the forecast period from 2019 to 2024. The increasing number of parents is determined to provide optimal nutrition to their infants. They opt for packaged baby foods and infant formulas to supplement breastfeeding. This coupled with the increased concern of parents for the health, and nutritional requirements of their babies have significantly contributed to the increase in demand for baby food and infant formula over the last few years. Further the Research Analyst adds, one of the primary drivers for this market is the increasing health concerns among parents. The Sector - organic baby foods is the fastest growing sector reason being safer and nutritionally superior to conventional baby food.
Global Baby Food and Infant Formula Market is highly fragmented mainly due to the constantly changing consumer demands and preferences. Also, the market is highly competitive due to the presence of numerous players having regional and global presence. This further encourages players operating in the baby food and infant formula market to compete based on price, quality, innovation, reputation, and distribution.
The study Report identifies the following corporations as the key players in the Global Baby Food and Infant Formula Market Size are Abbot Nutrition, Heinz Nature, Hipp organic, Cow&Gate, NESTLE, Other prominent key players of the market identified in the study report are - Danone, Mead Johnson Nutrition, and DANALAC.
The highly competitive market for Global Baby Food and Infant formula can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Type: Comprises Baby Cereals & Dry Meals, Baby Meals, Finger foods, other Baby foods.
Segmentation by Infant Formula: Comprises cow milk formula, soy-formula, protein HYDROLYSATE formula, and lactose free formula and others.
Segmentation by Ingredients: Comprises Dairy, fruits & vegetables, grains and meat.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
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North-America and Europe has dominated the market for Global Baby Food and Infant formula Market with the largest market share. North America is further expected to continue the dominance.
Asia-Pacific and Middle East are the growing market for Global Baby Food and Infant formula Market and are expected to grow at a considerable rate of CAGR during 2020 to 2024.
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