Forecasted market value of the baby food industry in India 2013-2018
The market value of the baby food industry in India, a country with one third of the world’s children, was around 240 million U.S. dollars in 2018. The population in the country was approximately 1.4 billion in mid-2018 and is well on course to beat China as the most populated country in the coming decades. To put things into perspective, one in every six people on the planet live in the south Asian country.
Advancement in technology and mindset
Technological advancements had a major impact on the mortality rates of infants in the country. However, it can be assumed that it was the change in mindset that has brought about the major change. With awareness campaigns like “Beti bachao, beti padhai” translating to “Save the daughter, educate the daughter” has reduced selective abortions and infanticide in recent years. The infant mortality rate was close to 30 deaths per thousand live births in 2017 which was the lowest recorded in the last decade.
Food up for grabs
With the reducing mortality rates, the baby food industry recorded huge profits. Baby food sales were more than 600 million U.S. dollars in 2016. With possibilities of delving into the organic baby food segment with milk formula and baby cereal, big players like Nestle India have promising prospects and opportunities to shape the future of the baby food industry.
Advancement in technology and mindset
Technological advancements had a major impact on the mortality rates of infants in the country. However, it can be assumed that it was the change in mindset that has brought about the major change. With awareness campaigns like “Beti bachao, beti padhai” translating to “Save the daughter, educate the daughter” has reduced selective abortions and infanticide in recent years. The infant mortality rate was close to 30 deaths per thousand live births in 2017 which was the lowest recorded in the last decade.
Food up for grabs
With the reducing mortality rates, the baby food industry recorded huge profits. Baby food sales were more than 600 million U.S. dollars in 2016. With possibilities of delving into the organic baby food segment with milk formula and baby cereal, big players like Nestle India have promising prospects and opportunities to shape the future of the baby food industry.
