US$ 10 Billion Organic Baby Food Market Share, Size, Growth, Demand and Forecast Till 2024by IMARC Group Market Research Reports
Over the recent years, the global organic baby food market has been witnessing a strong growth. This can be accredited to factors like a shift towards organic food products, mounting working women population, intensifying parental concerns, constant government support, elevating disposable incomes and improving distribution channels.
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According to the latest report by IMARC Group, titled “Organic Baby Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global organic baby food market reached a value of US$ 5.4 Billion in 2017. Organic baby food is produced as well as processed without the use of pesticides, antibiotics, growth hormones and other hazardous chemicals. In comparison with conventional baby food, organic baby food maintains strict standards and undergoes rigorous inspection before acquiring the organic label. As infants and toddlers have fragile immune system, and their physical and mental growth undergo a crucial stage of development, they are preferably served with organic baby food. This assists in safeguarding their growth from harmful effects of pesticides and eliminating their exposure to hazardous substances.
Read more information about global organic baby food market report: https://www.imarcgroup.com/organic-baby-food-market
Few of the ongoing trends observed in the food industry include a plant-based diet, and preference for organic as well as functional food products. Moreover, early exposure to pesticides can make babies vulnerable to health problems like neuro-development damage. In addition to this, mounting parental concerns regarding their child’s overall health represents other factor which is furnishing the development of market. Apart from this, governments of several regions are taking initiatives for encouraging the consumption of organic food products due to their unadulterated formulation. Some of the other growth-inducing factors include rapid urbanisation, increasing birth rates, elevating disposable incomes, improved distribution channels, eco-friendly farming techniques, surging working women population, growing number of nuclear families and rising cases of malnutrition amongst babies. Looking forward, the market value is expected to reach US$ 10 Billion by 2023, expanding at a CAGR of 10% during 2018-2023.
Insights on Market Segmentation:
Breakup by Product Type:
1. RTE (Ready-to-Eat) Baby Food
2. Milk Formula
3. Dried Baby Food
On the basis of type, the market has been segmented as RTE (ready-to-eat) baby food, milk formula, dried baby food and others. Presently, RTE (ready-to-eat) baby food dominates the market, holding the largest share as it offers convenience owing to which it can be served immediately without the hassle of cooking.
Breakup by Distribution Channel:
1. Supermarkets and Hypermarkets
2. Specialty Stores
3. Convenience Stores
4. Online Retailers
Based on distribution channel, supermarkets and hypermarkets represent the largest segment as they offer a one-stop shopping experience to the shoppers by providing a variety of goods under one roof. Supermarkets and hypermarkets are followed by specialty stores, convenience stores, online retailers and others.
Breakup by Region:
1. North America
3. Asia Pacific
4. Middle East and Africa
5. Latin America
As per region, the organic baby food market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Currently, North America is the leading market, accounting for the majority of the global share, followed by Europe.
The competitive landscape of the market has also been examined with some of the key players being Abott Nutrition, Danone, Nestle, Hero Group and Kraft Heinz.
Baby Food and Infant Formula Market: https://www.imarcgroup.com/baby-food-infant-formula-market
India Organic Food Market: https://www.imarcgroup.com/indian-organic-food-market
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Created on Apr 26th 2019 09:00. Viewed 126 times.
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