Global Baby Food and Infant Formula Market Poised for Significant Growth
Source: The DairyNews
The global baby food and infant formula market is projected to expand by USD 34,378.13 million from 2023 to 2027, according to Technavio. The market is anticipated to grow at a compound annual growth rate (CAGR) of over 6.96% during the forecast period.
The demand for organic baby food and infant formula is surging as parents increasingly favor products perceived as healthier and free from harmful substances.
These products adhere to stringent guidelines, avoiding chemical fertilizers, pesticides, preservatives, hormones, and antibiotics. Categories such as dried baby food, cereals, dairy, and poultry products are witnessing significant uptake. Shifts in lifestyle, increased consumer spending, and awareness campaigns are further propelling sales. Notable players in the market include Reckitt, Catalyst Organization, Sugarlogix, and various startups. Market dynamics are monitored using platforms like Statista and national statistical offices, with forecasting aided by techniques such as exponential trend smoothing and current exchange rates.
Market Challenges
The market faces challenges from product recalls due to contamination, often linked to packaging and manufacturing issues. Such recalls can lead to market contractions as consumer trust wanes and companies face legal and financial repercussions. Despite these challenges, trends such as rising income levels, the prevalence of working mothers, and the growth of nuclear families support market resilience. The nutrition sector, encompassing pharmacies, convenience stores, and healthcare facilities, continues to meet essential infant needs. Leading companies like Timios and Danone are prioritizing food safety and strict regulatory compliance to address the growing demand for organic, lactose-free, and hypoallergenic options globally, Technavio writes.
These products adhere to stringent guidelines, avoiding chemical fertilizers, pesticides, preservatives, hormones, and antibiotics. Categories such as dried baby food, cereals, dairy, and poultry products are witnessing significant uptake. Shifts in lifestyle, increased consumer spending, and awareness campaigns are further propelling sales. Notable players in the market include Reckitt, Catalyst Organization, Sugarlogix, and various startups. Market dynamics are monitored using platforms like Statista and national statistical offices, with forecasting aided by techniques such as exponential trend smoothing and current exchange rates.
Market Challenges
The market faces challenges from product recalls due to contamination, often linked to packaging and manufacturing issues. Such recalls can lead to market contractions as consumer trust wanes and companies face legal and financial repercussions. Despite these challenges, trends such as rising income levels, the prevalence of working mothers, and the growth of nuclear families support market resilience. The nutrition sector, encompassing pharmacies, convenience stores, and healthcare facilities, continues to meet essential infant needs. Leading companies like Timios and Danone are prioritizing food safety and strict regulatory compliance to address the growing demand for organic, lactose-free, and hypoallergenic options globally, Technavio writes.
