Global Baby Drinks Market was valued at $20,936 million in 2016, and is expected to garner $41,616 million by 2023, registering a CAGR of 10.4% from 2017 to 2023.
Infant formula, baby juice, and baby electrolyte contain vitamins and nutrients for the development of the baby. Although physicians recommend breastfeeding to infants, infant formula can be used as an alternative due to the similar nutrient contents. The market is driven by increase in the number of women professionals. Moreover, changes in lifestyle, rise in middle class population, and growth in disposable income in the emerging economies, such as India, China, Indonesia, among others, have propelled the market growth. However, concerns related to food safety and decline in global birth rate are expected to hamper the market growth.
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Increasing participation of women in labor force has led to rise in the number of women professionals who prefer ready-to-eat nutritious products for their babies. This trend is expected to boost the growth of the baby drinks market in the near future.
Asia-Pacific and LAMEA collectively contributed approximately three-fifths share of the global market by revenue in 2016. The key players operating in the global baby drinks market are Nestle S.A., Heinz and Hain Celestial Group, Abbott Laboratories, Mead Johnson Nutrition Company, LLC., Danone, Beingmate Group Co. Ltd., HiPP GmbH & Co., Campbell Soup Company, Arla Foods, and D. Signstore.
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Key Findings of the Baby Drinks Market:
- Asia-Pacific is expected to maintain its dominant position in the market, in terms of value during the forecast period, followed by North America.
- The infant formula segment generated the highest revenue in 2016, and is projected to grow at a CAGR of 10.3% during the forecast period.
- Supermarkets is the largest distribution channel in the global baby drinks market, registering a significant CAGR from 2017 to 2023.
- LAMEA accounted for approximately one-tenth share of the global baby drinks market in 2016.
- The Asia-Pacific baby drinks market is anticipated to grow at a CAGR of 11.1% from 2017 to 2023.
- North America accounted for approximately one-fourth share in the global baby drinks market, and is expected to grow at a CAGR of 9.3% during the forecast period.
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