Baby Drinks Market share is growing at a CAGR of 10.4% from 2017 to 2023

Baby

Baby

Increasing participation of women in labor force has led to rise in the number of women professional who prefer ready-to-eat nutritious product for their babies

PORTLAND, OR, UNITED STATES, August 17, 2021 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, Baby Drinks Market by Product, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global baby drinks market was valued at $20,936 million in 2016, and is projected to reach $41,616 million by 2023, registering a CAGR of 10.4% from 2017 to 2023. In 2016, the infant formula segment accounted for more than nine-tenths share of the global market in terms of revenue.

Baby drinks comprise infant formula, baby juice, and baby electrolyte, which are consumed by infants and toddlers. The infant formula segment accounts for the highest share in the baby drinks market. Infant formula products contain the necessary nutrients and vitamins, which are necessary for the growth and development of the baby. Physicians recommend the use of infant formula as an alternative to breastmilk. Babies can be fed at convenience, which makes easier for working mothers.

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The market is driven by factors such as high nutrition content in baby drinks, change in lifestyle, rise in middle class population, and increase in disposable income of people in the emerging economies, such as India, China, Indonesia, among others.

In 2016, the infant formula segment accounted for the highest share in the market, and is expected to maintain its dominance during the forecast period. Infant formula contains vitamins and nutrients, such as iron, which help in preventing anemia. Some infant formula are supplemented with probiotics, especially Bifidobacterium lactis, which prevent diarrhea, ease colic, and lower the risk of food allergies. Moreover, proactive product launches and promotions of the baby drinks in the U.S. and UK have boosted the growth of the market.

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At present, consumers are inclined toward healthy foods and drinks, which have high nutrient contents. Moreover, concerns related to food safety and decline in global birth rate restrain the market growth.

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.

Similar Reports:
Baby Food Market is Expected to Reach $96.3 Billion by 2027
Organic Baby Food Market to Reach $11,592 Million, Globally, by 2023

Upcoming Reports:
Baby Drinking Water Market: https://www.alliedmarketresearch.com/baby-drinking-water-market-A11800
Baby Food Snacks Market: https://www.alliedmarketresearch.com/baby-food-snacks-market

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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Source: EIN Presswire