Key regions: South Korea, India, United Kingdom, United States, Japan
The Southern Asian Baby Food Market has seen negligible growth due to various factors such as declining birth rates and increasing breastfeeding rates. However, the market is still driven by the convenience and nutritional benefits offered by baby milk and infant formula products.
Customer preferences: As the demand for organic and natural products continues to rise, there has been a noticeable increase in the preference for clean label baby milk and infant formula in Southern Asia. This trend is driven by a growing awareness of the potential health risks associated with artificial ingredients and additives. Additionally, with a rise in disposable income and changing lifestyles, there has been a shift towards premium and value-added products in the region.
Trends in the market: In Southern Asia, there is a noticeable increase in demand for organic and natural baby milk and infant formula products. This trend is driven by a growing awareness and preference for healthier options among parents, as well as concerns over the safety and quality of traditional formula products. Additionally, there is a rise in online purchasing of baby food products, as e-commerce platforms offer a convenient and efficient way for busy parents to purchase these items. These trends are expected to continue, presenting opportunities for industry players to expand their product offerings and distribution channels.
Local special circumstances: In Southern Asia, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is heavily influenced by cultural and religious beliefs. In countries like India, where cow milk is considered sacred, the market for cow milk-based infant formula is dominant. Additionally, regulatory restrictions on the marketing and distribution of infant formula also shape the market in this region. This has led to an increase in demand for locally sourced and organic formula options. In contrast, in countries like China, the one-child policy and rising middle-class have fueled the demand for imported infant formula, creating a lucrative market for international brands.
Underlying macroeconomic factors: The Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is heavily influenced by macroeconomic factors such as economic stability, population growth, and consumer purchasing power. Countries with stable economic conditions, a growing middle class, and high disposable incomes are expected to experience higher demand for baby milk and infant formula products. Additionally, increasing urbanization and changing lifestyles, particularly in Southern Asian countries, are driving the demand for convenient and ready-to-feed baby food products, further fueling market 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.
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)
