The global Baby Food Market is estimated to be valued at US$ 50.47 billion in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing number of working mothers around the world has been a major factor boosting the demand for baby food products. With more women joining the workforce today, they have less time to prepare homemade meals for their babies on a daily basis. This has encouraged parents to opt for easy to use packaged baby food items that can be conveniently fed to infants. As per statistics, over 70% of mothers with children under 3 years of age are employed. This high rate of working mothers has accelerated the growth of the baby food market over the recent past. Manufacturers are launching products suitable for on-the-go consumption to further tap into this working mothers consumer segment.
Segment Analysis
The Global Baby Food Market Scope is dominated by prepared baby food sub segment. According to statistics, prepared baby foods accounts for more than 60% of market share as of now. This is mainly because prepared baby foods are easy to feed for babies and saves time of parents or caretakers. Moreover, prepared baby foods are sterile, nutritious and tastes good which attracted more parents.
Key Takeaways
The global baby food market is expected to witness high growth. The global Baby Food Market is estimated to be valued at US$ 50.47 Bn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030.
Asia Pacific region is expected to be the fastest growing as well as dominating region in baby food market during forecast period. The key factors such as increasing birth rates, growing awareness about baby nutrition, rising disposable income, expanding middle class population etc. are driving the baby food market in Asia Pacific region.
Key players related content comprises Key players operating in the baby food market are Echosens, HISKY Medical Technologies Co., Ltd. and SMEDA Medical Co., Ltd.. Echosens is dominating the market with their wide range of premium baby cereals which comes with live cultures and prebiotics. HISKY Medical Technologies Co., Ltd gained significant market share with their innovative baby meals product range tailored as per age group nutritional needs. SMEDA Medical Co., Ltd also expanding in new geographies with their branded organic baby jar food products range.
Get more insights on this topic: https://www.trendingwebwire.com/baby-food-market-size-and-share-analysis-growth-trends-and-forecasts-2023-2030/
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