The Baby Drinks Market would attain a market size of 40,701.7 million by 2023, growing at a CAGR of 10.6% during 2017 -2023. The market for baby drinks is largely driven due to a substantial increase in the working women population. Additionally, changing lifestyle, growing middle class population, and rise in the disposable income among the population in the emerging economies such as India, China, Indonesia, and others, have contributed to the market growth.
However, concerns over food safety and steadily declining birth rate, globally are the factors that would hinder the market growth. Baby drinks, such as infant formula, baby juice, and baby electrolyte, are considered to be a rich source of energy, protein, certain vitamins, and minerals. Physicians have been recommending the use infant formula up to 12 months, as a substitute to breast milk. Infant milk, follow-on-milk, specialty baby milk, etc. is fed to the babies up to 12 months, and growing-up milk is fed to the toddlers.
Based on the product type, the Baby Drinks market is segmented across Infant Formula, Baby Electrolyte, and Baby Juices. The market is further segmented based on Infant Formula type into Infant Milk, Follow-on-Milk, Specialty Baby Milk and Growing up Milk. Based on Juice type, the market is further sub categorized across Concentrated and Ready to Drink. The segmentation based on Applications includes 6 Months to 12 Months, Less than 6 Months, 12 Months to 36 Months and Others. Based on Distribution Channel the market is segmented into Supermarkets & Hypermarkets, Pharmacies, Specialty Stores and Others.
Based on region, Baby Drinks market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Australia and Rest of Asia-Pacific) and Latin America, Middle East & Africa. Asia Pacific remained the dominant region in the Baby Drinks market in 2016. Asia-Pacific would witness promising CAGR during the forecast period (2017-2023).
The report covers the analysis of key stake holders of the Baby Drinks market. Key companies profiled in the report include Reckitt Benckiser Group Plc. (Mead Johnson Nutrition Company, LLC), Sofina (DANONE), Beingmate Group Co. Ltd., HiPP GMBH & CO., Nestle, Hain Celestial Group, Inc., Campbell Soup Company, Abbott Laboratories, and Arla Foods.
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