Baby Drinks Market Size Worth $232.5 Billion by 2027 | CAGR:
SAN FRANCISCO, April 1, 2020 /PRNewswire/ -- The global baby drinks market size is expected to reach USD 232.5 billion by 2027, expanding at a CAGR of 9.3%, according to a new report by Grand View Research, Inc. Rising working women population in the developing countries such as China and India is driving the market. Eventually, to save working time and efforts, working women are getting inclined towards the use of baby drinks to ensure baby care in terms of nutrition. For instance, 30% to 40% of the total women population is working in India. This has resulted in the increased demand for infant formula that meets the nutritional requirement in babies.
Key suggestions from the report:
- Asia Pacific is estimated to witness highest baby drinks market share of more than 50% in 2019, driven majorly by rising demand for baby drinks among working mothers.
- The baby formula segment accounted for the highest revenue share of about 45.3% in 2019 and is expected to witness a CAGR of 9.5% over the forecast period.
- The pharmacy segment accounted for a market share of more than 55.0% in 2019, whereas the online segment is projected to exhibit the fastest CAGR over the forecast period.
Read 80 page research report with ToC on "Baby Drinks Market Size, Share & Trends Analysis Report By Product (Baby Formula, Juice, Electrolyte), By Distribution Channel (Supermarket & Hypermarket, Pharmacies), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/baby-drink-market
E-commerce has rapidly emerged as one of the potential distribution channels for multi-national companies in China. This scenario is attributed to the ability of the retailers to compete on price and convenience because of less capital investment and elimination of links involved in the supply chain.
Asia Pacific is leading in terms of online purchase of various baby products including food, beverages, clothes, and accessories. E-commerce retail sales have witnessed a significant growth in China in past few years. Increased penetration of smartphones and internet along with easy accessibility of various products and convenient shopping options are driving the sale of infant formulas through online platforms.
The baby formula segment is expected to account for highest market share owing to the presence of essential nutrients required by infants from birth to 3 years of age. Baby formulas contain vitamins, minerals, and prebiotics to enhance nutritional capacity and immunity power in infants aging 12 months and above. Manufacturers are shifting their preferences towards the innovative discovery of nourishing ingredients that can improve the nutritional value of these products. The juice segment is expected to grow fast over the forecast period owing to increasing demand for Ready to Drink (RTD) beverages.
Consumer preference for online distribution channels with respect to baby nutrition products is likely to witness a sluggish growth due to the lack of trust over the e-commerce platforms. However, with the introduction of e-commerce, few e-pharmacies have been introduced to serve the busy professionals, running short on time to shop in person. For instance, India has been witnessing a strong traction with online pharmacies due to the growth of internet and increasing use of smartphones. It is expected that e-pharmacy has the potential of capturing 5% - 15% share in the next few years. Furthermore, many manufacturers are partnering with online retailers in order to boost sales and ensure increased accessibility of products.
Rising demand for baby drinks is directly linked to the commercialization and increased preference for these products infused with high nutrition. The increasing number of working women worldwide coupled with lack of breastfeeding due to certain medical conditions, results in increased acceptance of infant formulas. This, in turn, contributes to the rising demand for baby drinks. In addition, increase in global milk production is anticipated to propel baby drinks market growth. Fonterra is the largest dairy exporter in the world based in New Zealand. The dairy is promoting the production of milk at an industrial scale in U.S., Chile, Brazil, Uruguay, Hawaii, and Brazil. The globalization of the dairy industry helps in supplying the basic milk supplements to the manufacturers of infant formulas.
Grand View Research has segmented the global baby drinks market on the basis of product, distribution channel, and region:
- Baby Drink Product Outlook (Revenue, USD Million, 2016 - 2027)
- Baby Formula
- Baby Drink Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
- Supermarket & Hypermarket
- Baby Drink Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
Find more research reports on Consumer F&B Industry, by Grand View Research:
- Jellies & Gummies Market – The market growth is attributed to growing vegan population, booming candy industry, rising awareness regarding the side effects of chocolate consumption, and increasing consumer spending.
- Ready To Drink Premixes Market – Increasing popularity of Ready-To-Drink (RTD) beverages and demand for high strength premixes are projected to drive the market.
- Organic Beverages Market – Increasing awareness about the health benefits associated with the consumption of organic products is expected to drive the demand over the years to come.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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