APAC Baby Food Market:
Growth opportunities in the APAC baby food market look promising over the next six years. This is mainly due to the increasing malnutrition cases in developing countries such as India and continuous improvement in the economic conditions and the adoption of the modern lifestyle.
APAC Baby Food Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The remarkable boost in the working women population, resulting in limited time to focus on the nutrition needs of a baby, is one of the prominent drivers stimulating the growth of the Asia-Pacific baby food market. In accordance with the World Health Organization, the percentage of the female workforce in Japan expanded to 44.2% of the total labor force in 2019 from 43.9 % in 2018. Also, the growing cases of malnourishment in emerging countries like India will further strengthen the market size. As per a report published by UNICEF’s State of the World’s Children, in 2019, malnourishment accounted for one of the biggest reasons for deaths of 69% of children below five years in India. Therefore, this factor is persuading parents to choose different baby products for their ideal growth. The ongoing improvement in the economic conditions has augmented the spending on baby foods by parents, thereby contributing to the market growth. Moreover, rapid urbanization, along with the acceptance of modern lifestyle and the increasing focus of parents to fulfill the nutritional requirements of their baby at an early age, will indirectly boost the market demand. However, the growing consciousness towards adulterated baby foods and nutritional content will obstruct the baby food market growth.
Product Segment Drivers
Based on the product, the milk formula is anticipated to witness a higher CAGR during the forecast period owing to the increasing sales of these baby products in developing countries such as China, Indonesia, and India. Also, various nutrients offered by these products essential for the growth of the baby and are highly convenient will further fuel the baby food market size.
Distribution Channel Drivers
On the basis of distribution channels, hypermarkets/supermarkets are projected to lead the market over the forecast period. This is primarily because of the accessibility of different brands and flavors for the customers. Moreover, the discount offers provided by these stores will attract customers towards the market.
APAC Baby Food Market Segmentation:
Segmentation by Product:
- Milk Formula
- Prepared Baby Food
- Dried Baby food
- Others
Segmentation by Type:
- Organic
- Inorganic
Segmentation by Distribution Channel:
- Hypermarket/Supermarket
- Speciality Store
- Convenience Store
- Online
- Others
Segmentation by Countries:
- China
- India
- Japan
- Rest of Asia-Pacific
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