Portland, OR, June 09, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global baby drinks industry generated $20.93 billion in 2016, and is estimated to generate $41.61 billion by 2023, growing at a CAGR of 10.4% from 2017 to 2023.The report provides a comprehensive analysis of key market trends, top investment pockets, drivers & opportunities, major segments, and competitive landscape.
Increase in number of working women, high percentage of nutrition in the infant formula, and surge in demand from emerging countries drive the growth of the global baby drinks market. However, concerns regarding food safety and declining birth rate restrain the market growth. On the other hand, preferences for organic food & drinks create new opportunities in the coming years.
The report offers a detailed segmentation of the global baby drinks market based on product, application, distribution channel, and region.
Based on product, the infant formula segment contributed to the largest share in 2019, accounting for nearly 94% of the total revenue, and is estimated to maintain its lion’s share during the forecast period. However, the baby electrolytes segment would witness the largest CAGR of 11.1% from 2017 to 2023.
Based on distribution channel, the supermarkets segment accounted for the largest share in 2019, holding nearly two-fifths of the total share, and is estimated to maintain the highest contribution during the forecast period. However, the pharmacy/medical store segment is estimated to witness the highest CAGR of 11.8% during the forecast period.
Regionally, Asia-Pacific accounted for the highest share, contributing to more than half of the total share in 2019, and is estimated to maintain its lead position during the forecast period. However, LAMEA is estimated to portray the largest CAGR of 11.5% from 2017 to 2023.
Key market players operating in the global baby drinks market include Nestle S.A., Abbott Laboratories, Heinz and Hain Celestial Group, Danone, Mead Johnson Nutrition Company, LLC., HiPP GmbH & Co., Beingmate Group Co. Ltd., Arla Foods, Campbell Soup Company, and D. Signstore.
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