According to the World Bank, between 1960 and 2013 the birth rates around the world have declined to more than 45 % on an average. Majorly, due to that parents have become more critical in choosing the right baby’ s food product. Companies find themselves in difficult stage where they must provide the utopian products in a stiff competition that too at a lucrative price points so that parents mind and heart can be won.
Baby infant formula is generally segmented into the three types; first being the Powder type which is prepared by mixing the scoops of powder with sterilized water and can be stored for less than 30 days in a cool place, second being the Concentrated liquid type which is majorly prepared with sterilized water in equal proportion and can be stored for less than 24 hours in a refrigerators, lastly ready to use type which do not need any water mix and can be stored for less than 24 hours in a refrigerators.
The Food and Drug Administration( FDA) has benchmarked the quality standards on the basis of nutrition level to ensure that the products are safe and supports healthy growth in infants. Due to this reason, producers of the same have set the nutritional level above the FDA set points which are different for different segments. Other than infant formula which is for babes less than 12 months of age, there are baby foods which are segmented according to the food type such as Cereals, Fruits, and Vegetables, Meats, and Sweet & Salty foods. Baby foods are produced majorly for babies four to five years old.
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Baby Food and Formula sales share is highest in developed region whereas growing fastest in developing regions. Globally European region constitutes to be more than 50 % sales values for baby food and more than 25 % sales values for infant formula. From other developed regions North America constitutes more than 30 % in the baby food and more than 40 % in the infant formula. These regions is expected to constitute to account more than 30-40 % each in baby food & in infant formula as they are heavily investing in producing the best quality products with utmost care to the nutritious level.
The other main reason for them to remain main regions for these products is due to the drastic increase in the awareness and dependency. Other very important region is Asia Pacific which is currently accounts for more than 10 % sales value in infant formula and more than 5 % in the baby food. Asia Pacific region is the fastest growing region as it includes countries such as India, China, Japan and Singapore which are the fastest developing nations economically.
There is a huge transition in the working population of women. Due to this here use of baby food products and infant formula have substantially increased. Latin America has also shown the highest market growth in sales value of more than 40 % in 2014 and is expected to foster same growth rate in forecasted period. Major vendors