Market Definition
With the exponentially rising population, demonstrating a rise in births across the world, food requirements are upsurging rapidly. In addition, the growing health consciousness and improving living standards of the people are also demonstrating greater inclination of the families toward nutrient-rich food for the little ones. Hence, manufacturers are introducing new varieties of baby food & drinks in the market for the parents to develop the taste buds of the babies while maintaining nutritional uptake.
Moreover, as the lifestyle is changing and exemplifying hectic day-to-day schedules with minimal or no time for food preparations, the demand for ready-to-drink and easy-to-prepare drinks are gaining popularity worldwide. It, in turn, is hinting toward an opportunistic future for the baby drink industry in the coming years.
Market Insights
The Global Baby Drinks Market is projected to grow at a CAGR of around 8.2% during the forecast period, i.e., 2022-27. The predicted growth of the market attributes to the swift improvement in the economic conditions of people and their rising health consciousness, especially for babies, i.e., augmenting the demand for nutrient-rich drinks for them. Besides, the growing availability & affordability of a wide variety of baby drinks are attracting a massive consumer base and thus promoting the expansion of the global market.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR | 8.2% |
| Regions Covered | North America: The US, Canada, Mexico |
| South America: Brazil, Argentina, Chile, Peru, Rest of South America | |
| Europe: Germany, The UK, France, Spain, Italy, Russia, Poland, Rest of Europe | |
| Asia-Pacific: China, Japan, India, South Korea, Australia, New Zealan, Rest of Asia Pacific | |
| Middle East & Africa: Saudi Arabia, UAE, Egypt, Turkey, South Africa, Nigeria, Kenya, Rest of Middle East and Africa | |
| Key Companies Profiled | Abbott Laboratories, Arla Foods amba, Beingmate Group Co. Ltd, BOBBIE, CAMPBELL SOUP COMPANY, Danone S.A., D. Sign Softech Private Limited, Dana Dairy, Royal FrieslandCampina N.V., Freed Foods, Inc.,Others |
| Unit Denominations | USD Million/Billion |
In addition, the rising working population with minimum or no time for food preparation is portraying a greater inclination toward baby drinks to cater to the nutritional requirement of babies. Many people are using these products as an alternative to breastfeeding, thereby augmenting the growth of the global baby drinks market.
The advent of Covid-19 that brought a catastrophe to the world in 2020 and led to the mounting prevalence of illnesses has, in turn, escalated health concerns and more focus on strengthening babies' immunities & protecting them from diseases. In view of this, the leading players introduced new baby drinks to meet such requirements and witnessed a growing customer base for these drinks amidst the crisis. With the same trend being followed until now, the Global Baby Drinks Market is set to observe an upward growth trend over the forecast years.
