Key regions: South Korea, India, United Kingdom, United States, Japan
The Baby Milk & Infant Formula market in Australia & Oceania has seen minimal growth, due to factors such as declining birth rates and increasing awareness of breastfeeding benefits. However, the convenience of online purchasing and rising disposable income may lead to future growth.
Customer preferences: With the rise in health consciousness and awareness about the importance of proper nutrition for infants, there has been a growing demand for organic and natural baby milk and infant formula products in Australia & Oceania. This is driven by the increasing preference for chemical-free and sustainable options among consumers, as well as concerns over potential contaminants in conventional baby milk. Additionally, there is a growing trend towards plant-based and dairy-free options, catering to the dietary needs and preferences of a diverse population.
Trends in the market: In Australia & Oceania, the Baby Milk & Infant Formula Market within the Baby Food Market is experiencing a shift towards organic and natural options as consumers become more health-conscious. This trend is driven by a growing awareness of the benefits of natural ingredients and concerns over the use of additives and preservatives in traditional formulas. Industry stakeholders are responding by expanding their organic offerings and investing in research and development to meet this demand. This trend is expected to continue, with potential implications for the market including increased competition and a need for transparency in labeling and sourcing of ingredients.
Local special circumstances: In Australia & Oceania, the Baby Milk & Infant Formula market is heavily influenced by cultural factors. Breastfeeding is highly encouraged and supported, leading to a smaller market size compared to other regions. Additionally, strict regulations and safety standards for infant formula production and marketing play a significant role in shaping the market. In New Zealand, there is a strong preference for locally sourced and organic products, which has driven the demand for premium and specialty infant formula brands.
Underlying macroeconomic factors: The Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is also influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. Countries with stable economic growth, strong consumer spending power, and supportive fiscal policies are experiencing higher market demand for baby milk and infant formula. In addition, increasing urbanization and rising disposable incomes in emerging economies are driving the demand for premium baby food products, including milk and infant formula, to meet the growing preferences for high-quality and safe products for infants.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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