Press Release Description
Canada Baby Food Market to Witness Remarkable Growth with the Rapidly Rising Working Women Population
The Canada Baby Food Market is projected to grow at a CAGR of around 2.02% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The increasing working women population in Canada has played a significant role in supporting the growth of the Canada Baby Food Market. With more women entering the workforce, the demand for convenient and nutritious baby food products has increased, as they offer a time-saving solution for busy parents. The Canadian government reported that in 2021, approximately 80% of Canadian-born women with a bachelor's degree or higher were employed full-time, while 73% of long-term immigrant women and 62% of recent immigrant women also held full-time jobs.
This large working women population comprises a lot of working mothers who often face time constraints when it comes to preparing meals for their babies, and they may not have the time to make homemade baby food from scratch. As a result, they turn to pre-packaged baby food products that are easy to prepare and provide the necessary nutrients for their babies.
Furthermore, as part of its efforts to promote Employment, Workforce Development, and Disability Inclusion, the government approved 26 projects for funding the Women’s Employment Readiness pilot program. These initiatives are expected to increase the number of working mothers in the country, further driving demand for pre-packaged and convenient baby food products due to the time constraints faced by working mothers.
Moreover, the disposable income of individuals in the country is high mainly due to gains in employment income. According to data released by Canada’s National Statistical Agency in the second quarter of 2022, the average disposable income for the top 20% of households was USD 46,805 and for the bottom, 20% of households was USD 6,415. The higher disposable income of individuals in the country allows them to afford more expensive baby food products. This trend is further supported by the availability of a wide range of baby food products in different flavors and varieties, providing parents with more choices to cater to the varied tastes and preferences of their babies.
Additionally, the Canadian government has implemented policies to boost the country's economic growth, such as investing in infrastructure and providing tax cuts, which are expected to create more job opportunities and increase income levels. Moreover, the country has a strong social safety net system, which provides financial support to low-income households, reducing income inequality and increasing disposable income for these households. Owing to these government initiatives the disposable income of individuals is expected to be steady in the coming years, which would support the market growth during the forecast period, further states the research report, “Canada Baby Food Market Analysis, 2024.”
Supermarkets and Hypermarkets to be Most Preferred Distribution Channel for Baby Food Products
Supermarkets & hypermarkets are major sales channels through which baby food products have exhibited maximum sales, as they are convenient one-stop shops for parents to purchase a variety of baby products, including prepared baby food. These stores are easily accessible and offer extended hours of operation, making it easier for busy parents to buy baby food products. They often offer competitive pricing on baby food products, allowing parents to save money on their baby food purchases. This is particularly important for families with multiple children or those on a tight budget.
Moreover, these stores often provide offers & discounts on baby food products, thereby allowing parents to stock up on baby food products and try new brands or flavors. Hence, these aspects indicate the widespread distribution network of supermarkets & hypermarkets in Canada, I.e., boding well for the overall growth of the baby food industry in the country.
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including Nestlé Canada Inc., Mead Johnson Nutrition Co., Abbott Laboratories Inc., Kraft Heinz Canada ULC, Baby Gourmet Foods Inc., Love Child (Brands) Inc., Milupa Aptamil, Hain Celestial Canada, Once Upon A Farm LLC, and others are looking forward to strengthening their market position.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends that have shaped the industry to its current form?
- What key factors would propel and impede the industry across the country?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition shaped across various provinces in Canada, followed by their comparative factorial indexing?
- How have buying behavior, customer inclination, and expectations from product manufacturers evolved during 2019-30?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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