According to a new market report published by Industry Probe, the global baby feeding products market is expected to reach US$ 9.8 Bn by 2027 and expand at a CAGR of 5.1% from 2019 to 2027.
New York, NY -- (ReleaseWire) -- 04/07/2020 --According to a new market report published by Industry Probe (www.industryprobe.com) titled 'Baby Feeding Products Market [Type: Bottle Feeding, Breast Feeding (Nipple Shield, Breast Pump, Others- Nursing Covers, Feeding Pillows etc.), Sippy Cups, Tableware (Bowls, Plates, Mugs, Others- Spoon, Food Storage etc.); Material: Plastic, Stainless Steel, Silicone, Glass; Age Group: 0-2 Months, 2.5-3 Months, 3.5-6 Months, More than 6 Months; Distribution Channel: Online and Offline (Hypermarkets & Supermarkets, Specialty Stores, and Brand Stores)] – Global Industry Dynamics 2018-19, Trends and Forecast, 2020–2027,' the global baby feeding products market is expected to reach US$ 9.8 Bn by 2027 and expand at a CAGR of 5.1% from 2019 to 2027.
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The report states that the global baby feeding products market was valued at US$ 6.3 Bn in 2018 and is expected to expand at a CAGR of 5.1% from 2019 to 2027. Increasing emphasis on baby care, product innovation, and increase in online sales are some of the major factors expected to boost the global baby feeding products market in the near future. From a regional perspective, North America held a prominent share in the global baby feeding products market in 2018 followed by Europe and Asia Pacific. Asia Pacific is expected to be a key upcoming market for baby feeding products during the forecast period. Rising awareness about infant nutrition and increase in birth rate especially in China and India are anticipated to be the key factors driving the growth of the baby feeding products market in this region.
Additionally, growing concern among parents about baby's health and focus on quality is significantly driving the growth of the baby feeding products market. Rising rate of infant mortality has led to increased awareness regarding benefits of breastfeeding that is expected to boost breastfeeding. Increasing number of working women and changing maternity leave policies across the world are boosting the market growth. Moreover, rise in disposable income, increasing purchasing power of consumers, and high literacy rate are also expected to drive the growth of the baby feeding products market in future. Declining birth rate and inclination toward breast feeding are anticipated to restrain the market growth during the forecast timeline. The trend of having fewer children, mostly in developed countries, is also expected to hinder the market growth. Moreover, growing concerns over the possible harmful effects BPA may have on humans, particularly on infants and children are restraining the market growth.
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The report has segmented the baby feeding products market in terms of type, age group, distribution channel, and region. In terms of type, feeding bottles are mostly preferred as they are cheap, convenient, and easy to use. In terms of material, plastic is the major segment and is anticipated to dominate the market during the forecast period. Plastic segment contributes major share to the baby feeding products market and is anticipated to expand at a CAGR of 4.9% during the forecast period. Based on age group, more than 6 months segment dominates the market. At about 6 months, along with milk and infant formula, babies are introduced to solid foods. Based on distribution channel, the offline distribution channel is expected to be the most attractive segment during the forecast period due to the preference of consumers toward offline shopping. However, the online channel is expected to expand at a significant rate during the forecast timeline. In terms of region, North America holds a major share of the global baby feeding products market, followed by Europe
The baby feeding products market is dominated by several players who are focused on the development of new products to cater to the rising demand for the product in the global market.
The report includes the below mentioned pointers of major players operating in the baby feeding products market:
- Competition Matrix
- Company Overview
- Product Profiling
- Market Share Analysis (2018)
- Product Innovation
- Product Comparison Analysis
- Business Strategies / Recent Developments
- Technological advancements
- Key mergers and acquisitions
- Expansion strategies
- Company Financials
Some of the prominent players are featured in this report to give a better competitive analysis of the baby feeding products market and these include Koninklijke Philips N.V., Newell Brands, Pigeon Corporation, Medela AG, Mayborn Group Limited, Linco Baby Merchandise Works Co., Ltd, Edgewell Personal Care Company, Nuby Inc., Novatex North America Inc. and Munchkin Inc.
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About Industry Probe
Industry Probe is a global market intelligence and advisory firm with an unwavering purpose to help businesses achieve strategic objectives through a varied range of offerings. Based on a unique amalgamation of our big data technology and human intelligence, our services are dedicated to serve the businesses operating in the consumer goods and industrial machinery sectors. Our offerings comprises syndicated research, strategic consulting & advisory services, competitive intelligence, and full time engagement to bring true & actionable insights into our clients' business environment. Combining research & technology adoption, playing the perfect mix of the best data, and centered on consumer goods & industrial machinery sectors, Industry Probe believes in targeting one industry at a time.
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