Global Baby Food and Formula Market to Hit the Us$ 45 Bn Mark by 2023 – Credence Research
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Date Submitted: 08/08/2016 01:09 AM
According to a new market research report published by Credence Research “Baby Food and Formula (Product – Infant Formula, Baby Cereals and Dried Baby Food, Prepared Baby Food, Others) Market – Growth, Share, Opportunities, Competitive Analysis and Forecast 2016 – 2023”, the global baby food and formula market was valued at US$ 28.12 Bn in 2015 and is estimated to expand with a CAGR of 6.1% from 2016 to 2023.
Browse the full report at http://www.credenceresearch.com/report/baby-food-and-formula-market
Market Insights:
The rising discretionary income of people, especially in the developing economies, coupled with the increasing expenditure over brand-named baby care products is the prime factor bolstering the baby food and formula market. Parents across the world are increasingly looking towards more convenient and healthy products for their babies. As a result, the demand for brand-named baby food and formula has risen substantially since the past few years.baby-food-and-formula-market
The female workforce ratio in developing economies such as India and China has grown dramatically in the past few years. This has led to increased demand for convenient baby food products that can satisfactorily fulfil the nutrition need of infants. Today, baby food products are available in various forms such as cereals, milk solids, readymade bottled food, snacks and others. Consequently, large number of people have adopted baby food products thereby resulting into strong overall market growth.
Browse All Reports of This Category @ http://www.credenceresearch.com/industry/consumer-goods-market
Another significant factor bolstering the market growth is the rising birth rate worldwide. Although the overall birth rate per year is has decreased significantly since the past few years, the rate is estimated to remain steady in the coming years. Over the period of time, India and China have emerged as the most promising markets for baby food, mainly due to their strong...
