Key regions: South Korea, India, United Kingdom, United States, Japan
The Baby Milk & Infant Formula Market in CIS is experiencing minimal growth due to various factors such as declining birth rates, stricter regulations, and increased competition. Despite this slow growth, the market is expected to see a steady rise in demand as consumers become more health-conscious and seek reliable and convenient options for their infants' nutrition needs.
Customer preferences: As consumers become more conscious of the importance of nutrition for their babies, there has been a rise in demand for organic and natural baby milk and infant formula products. This trend is driven by a growing preference for clean and healthy options, as well as a desire for transparency and trust in the ingredients used. Additionally, with an increasing focus on sustainability and ethical sourcing, consumers are also gravitating towards environmentally-friendly and socially responsible brands.
Trends in the market: In the CIS region, the Baby Milk & Infant Formula Market of the Baby Food Market is experiencing a shift towards organic and clean-label products. This trend is driven by growing consumer awareness of the importance of nutrition and health in early childhood development. As a result, manufacturers are investing in innovative production methods and sourcing of ingredients to meet the demands of this trend. This shift towards healthier options is expected to continue, with implications for industry stakeholders such as increased competition and the need for stricter regulations and labeling standards.
Local special circumstances: In the CIS region, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is influenced by a strong cultural preference for homemade baby food. This has led to a slower adoption of packaged baby food products in comparison to other markets. Additionally, strict government regulations and a lack of trust in foreign brands have resulted in a smaller market share for international players. However, with increasing urbanization and a growing middle class, there is a growing trend towards convenience and safety, creating opportunities for domestic and international players alike.
Underlying macroeconomic factors: The growth of the Baby Milk & Infant Formula Market within the Baby Food Market is largely influenced by macroeconomic factors such as population growth, income levels, and consumer spending patterns. Countries with a growing population and rising incomes, especially in emerging markets, are driving demand for baby milk and infant formula products. Furthermore, favorable government policies and investments in healthcare and nutrition are also contributing to market growth. On the other hand, economic downturns and weak consumer confidence can negatively impact the market, leading to decreased sales and slower growth.
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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