Key regions: Canada, United Kingdom, Japan, United States, Spain
The Baby Food market in Sri Lanka is experiencing minimal growth due to various factors, such as declining birth rates, shifting consumer preferences towards homemade baby food, and lack of awareness about the benefits of commercial baby food products. Additionally, the sub-markets of Baby Milk & Infant Formula, Baby Cereals & Other Dried Baby Food, Prepared Baby Food, and Baby Snacks & Others are facing challenges such as high import costs and strict regulations, further impacting the overall market growth.
Customer preferences: As more Sri Lankan parents become conscious of the quality and safety of their children's food, the demand for organic and natural baby food has increased. This trend is influenced by cultural values of traditional and healthy eating habits. Additionally, with the rise of working mothers, convenience and ease of preparation have become important factors in purchasing decisions, leading to a rise in demand for ready-to-eat baby food options. This shift towards healthier and convenient options is also driven by changing lifestyles and the desire for balanced nutrition for children.
Trends in the market: In Sri Lanka, the Baby Food market is experiencing an increasing demand for organic and natural options, driven by growing health consciousness among parents. This trend is expected to continue, with an emphasis on locally-sourced, sustainable ingredients. Additionally, there is a rising demand for allergen-free and gluten-free options, reflecting a shift towards healthier and more inclusive diets for babies. These trends have significant implications for industry stakeholders, who will need to adapt their product offerings and marketing strategies to cater to these evolving consumer preferences. They also present opportunities for partnerships with local farmers and producers to meet the demand for locally-sourced ingredients.
Local special circumstances: In Sri Lanka, the Baby Food Market is heavily influenced by the country's cultural and religious beliefs, as well as its tropical climate. Breastfeeding is considered the norm, which has limited the growth of the market. However, with the increasing number of working mothers and changing attitudes towards formula feeding, the market is seeing a gradual increase in demand. Additionally, the government's strict regulations on food safety and labeling have had a significant impact on the market's growth and product offerings.
Underlying macroeconomic factors: The performance of the Baby Food Market within The Food market in Sri Lanka is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and global economic trends. Sri Lanka's growing middle class population and increasing urbanization have led to a rise in demand for convenient and nutritious baby food products, driving market growth. However, high inflation rates and currency devaluation have impacted consumer purchasing power, affecting market performance. Additionally, government initiatives to promote breastfeeding and provide free infant formula to low-income families have also affected 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)
