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Asia-Pacific Baby Food Market Research Report, 2027

Asia-Pacific Baby Food Market Research Report, 2027

Actual Market Research 23-09-2022 66 Pages Figures : 18 Tables : 23 Region : Asia-Pacific Category : Consumer Goods & Services

1. Hain Celestial Group, Inc.

2. The Kraft Heinz Company

3. Reckitt Benckiser Group Plc.

4. Arla Food

5. Ausnutria

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According to the report titled, “Asia Pacific Baby Food Market Research Report, 2027”, published by Actual Market Research the baby food market in Asia pacific is the largest market globally contributing to around 30% of global share in 2021. This is largely due to the high population of the region which includes countries like India and China both of which constituents to about 37% of the total human population. And the region of Asia Pacific itself makes up for 60% of the total human population. Comparing the baby population in the region which was about 7% of the total population in 2021which is equal to almost 208 million; the market was valued at around USD 4 billion in the same year. With the increase in women workforce and hectic lifestyle, many working mothers are in search for healthy and convenient food options for their infants. Additionally, the increasing number of working women prompted the raise in per capita income of families; this increase in income levels is expected to increase the demand for baby food and infant formula. The Asia-Pacific baby food market witnessed a shift in trend in recent times from conventional to organic products, owing to factors, such as rise in parental concerns over baby's nutrition, increase in awareness with respect to the benefits associated with organic products, and eco-friendly farming techniques. Furthermore, these factors are expected to boost the demand for organic baby food products during the forecast period. The report analyzes the market on basis of product type and sales channel. On the basis of sales channel the market is segmented into Milk Formula, Dried baby food, cereals and others. While on the basis of sales channel the market is segmented into Hyper/Supermarket, Pharmacy/Drugstores, Convenience stores and online channels. The Milk Formula segment has had the largest market share since 2016 making up to around 55% of the total market share. but with the aforementioned shift in trend to organic food will help the segment of dried baby food grow with a significant CAGR of almost 7%. Another factor which contributes to the growth rate of this segment is the nutritional value it provides to the baby accompanied with many other health benefits for physical health and growth. The Hyper/Supermarket segment which is the traditional point of sales for such products held the biggest market share in 2021. But with the increasing internet penetration and the consumer adopting the convenience of Home delivery through online app is expected to help the online segment grow with the highest CAGR of Around 7.5%. Recommendation from consultants and doctors to adopt and consume baby food product is another factor growing the market in the region. This has led to many players in the market looking to create trusted brand names by infusing better quality of ingredients in the market. Manufacturers have started replacing ingredients like bulk sugar, sodium and preservatives with healthier alternative to match up the demand coming from this market. The Asia pacific baby food market has still not matured with the market being highly fragmented making it competitive in nature and without any dominant player in the region. This poses as a great opportunity for the players to gain market share and drive prominent revenue from this region. The baby food market also faces some restraints in the region, with consumers in this region sticking to freshly made home preparations for their child. Along with this the infusion of quality ingredients add to the cost of the product which act as an obstruction to the growth with the region being highly price sensitive. The Availability of such products in some areas of countries in the region is low which hindered the potential for growth of this market. China dominated the market in the region, contributing to 50% of the total market, which was the effect of abolishment of one child policy. Japan, India and Australia together made up around 20% of the total market. India is a country with great potential for growth but is restricted by consumer perception and practices along with low rural penetration of product. COVID-19 Impact The Pandemic affected many different industrial verticals in the region adversely, as this region was the epicenter of the virus. One of the key reasons this product is used for is the convenience for parents living urban lifestyle. With the onset of lockdowns and travel restrictions, these parents had plenty of time at home and thus they shifted to home cooked meals for their babies. Along with this the availability of these products was hindered with issues in supply and distribution chain which obstructed the market growth rate. Major Companies Included: The Hain Celestial Group, The Kraft Heinz Company, Perrigo Company plc, Reckitt Benckiser Group plc, Hero Group, HiPP GmbH & Co. Vertrieb KG, Arla Food, Danone, Ella's Kitchen, Friesland Campina, Ausnutria, Beingmate Considered in the report • Geography: Asia Pacific • Base year: 2021 • Historical year: 2016 • Forecasted year: 2027 Countries covered: • China • India • Australia • Japan Aspects covered in the report • Market Size by Value for the period (2016-2027F) • Market Share by Product Type (Milk Formula, Dried Baby Food, Cereals, Others) • Market Share by Channel Sales (Hyper/Supermarket, Convenience store, Pharmacy/ Drugstores, Online) • Market Share by Country • Market Share by Company The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modelling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations; validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Consumer goods and Service industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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