News

The global Baby Drinks market size is expected to be worth around US$ 232.4 billion by 2027, according to a new report by Vision Research Reports.

The global Baby Drinks market size was valued at US$ 114.0 billion in 2019 and is anticipated to grow at a CAGR of 9.2% during forecast period 2020 to 2027.

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Growth Factors

The growth of the market for baby drinks is attributed to increasing number of working mothers across the world. Moreover, increasing number of middle class households as a result of population growth that can afford baby drinks is also boosting market growth.

Rising working women population in the developing countries such as China and India is driving the market. Eventually, to save working time and efforts, working women are getting inclined towards the use of baby drinks to ensure baby care in terms of nutrition. For instance, 30% to 40% of the total women population is working in India. This has resulted in the increased demand for infant formula that meets the nutritional requirement in babies.

Report Highlights

• Asia Pacific is estimated to witness highest baby drinks market share of more than 50% in 2019, driven majorly by rising demand for baby drinks among working mothers
• The baby formula segment accounted for the highest revenue share of about 45.2% in 2019 and is expected to witness a CAGR of 9.4% over the forecast period
• The pharmacy segment accounted for a market share of more than 55.0% in 2019, whereas the online segment is projected to exhibit the fastest CAGR over the forecast period.

Key Players

The Kraft Heinz Company, Abbott, and Mead Johnson and Company LLC in the region. These players are actively involved in product development and innovative marketing campaigns, through both offline and online formats to ensure the enhanced sales of the product in the market.

Market Segmentation