Key regions: South Korea, India, United Kingdom, United States, Japan
The Baby Milk & Infant Formula Market in the G7 region is experiencing a negligible growth rate due to factors such as declining birth rates and increasing concerns about the safety and quality of formula products. However, the market is expected to see some growth due to the convenience of online shopping and increasing health awareness among parents.
Customer preferences: The Baby Milk & Infant Formula Market within the Baby Food Market is witnessing a growing demand for organic and natural options, as parents become more health-conscious and environmentally aware. This trend is further fueled by the increasing number of millennial parents who prioritize wholesome and sustainable products for their children. Additionally, there is a rising demand for lactose-free and plant-based infant formulas, catering to the needs of babies with specific dietary needs and preferences.
Trends in the market: In the G7 countries, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is seeing a surge in demand for organic and natural products, driven by growing health consciousness among consumers. This trend is expected to continue, with an increasing focus on clean label and sustainable sourcing. Additionally, there is a rise in online sales of baby food products, as more parents opt for the convenience of home delivery. This shift towards e-commerce is likely to shape the competitive landscape in the coming years, as companies invest in digital marketing and direct-to-consumer strategies.
Local special circumstances: In G7 countries, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is heavily influenced by strict regulations and guidelines set by government agencies. The market is also shaped by cultural norms and preferences, with a strong emphasis on organic and natural products. In addition, geographical factors such as climate and availability of resources also play a role in shaping the market. For example, in Japan, the market is driven by a high demand for premium and high-quality products, while in France, there is a strong preference for locally sourced and artisanal products.
Underlying macroeconomic factors: The Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is influenced by macroeconomic factors such as consumer spending patterns, population growth, and government policies and regulations. Countries with a high birth rate and increased consumer spending on baby products are experiencing steady growth in the market. On the other hand, regions with declining birth rates and strict regulations on baby food and formula are facing challenges in market growth. The global economic slowdown and fluctuations in exchange rates also impact the purchasing power of consumers, ultimately affecting the demand for baby food products. Additionally, fiscal policies such as tax incentives and subsidies for baby food manufacturers can also have a significant impact on the market.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
