Baby Food Market Is Expected to Reach $72.7 Billion, Worldwide, by 2020 - Allied Market Research

According to a new report by Allied Market Research titled, “World Baby Food - Market Opportunities and Forecasts, 2014 - 2020”, the global Baby food market is estimated to garner a revenue of $72.7 billion by 2020, registering a CAGR of 6.4 % during 2015 - 2020. Milk formula stands out as the largest segment, primarily fueled by the growing awareness towards baby nutrition and a decrease in breast feeding among the working women population. Prepared baby food is identified as the most promising product segment in this market. Presently, supermarkets account for the largest sales channel in the market, however, over the forecast period, the segment of small grocery retailers is estimated to register the fastest growth rate. Asia Pacific is the highest revenue generating region in the global baby food market; and is estimated to register highest CAGR of 7.7% during 2015 – 2020.

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Types of baby foods include Dried Baby Food, Milk Formula, Prepared Baby Food and Other Baby food such as baby snacks and beverages. Among these food products, the Milk formula segment alone contributes to nearly 2/3rd of the market, in terms of value. Dominance of this product category in the market is primarily supplemented by the global demand for milk formula, growing urbanization, increasing disposable incomes and the changing lifestyles. Further, a significant increase in the count of working women population is a key factor driving the market growth, especially in developing Asian countries. Cow milk based formulas are gaining large adoption in emerging economies.

Prepared baby food is the second largest market globally and is expected to grow the fastest CAGR during the forecast period. Growing time constraints among parents are the key factors propelling the increased adoption of prepared baby food. Presently, the demand for prepared baby food is largely...