Baby Foods and Infant Formula: A Global Strategic Business Report
San Jose, California (PRWEB) March 3, 2008
Global baby foods and infant formula market is projected to witness steady growth through the forecast period and reach US$20.2 billion in sales by 2010. Although US and Europe are the leading markets for baby foods and infant formula products, these developed regions offer little opportunities for growth due to the declining birth rates, static market conditions, and consolidation. As a result, manufacturers are moving towards the more lucrative and populous markets in Asia-Pacific, and are currently focusing their efforts on India and China.
A rapidly expanding proportion of workingwomen, and the need for convenience are major factors driving the sales of baby foods across the world, particularly in the developed regions of the world. The growing concerns pertaining to health and nutrition among consumers have resulted in the increased demand for organic and natural products, which are not contaminated with pesticides and other additives. The rising level of disposable income is allowing consumers to spend a little extra on premium organic baby food products.
Infant formula is one of the most regulated industries in the world, and is subject to stringent quality checks. With consumers seeking convenient and safe products, the industry is further driven to ensure that the products conform to various regulations and standards. Although medical community and other health organizations promote breastfeeding, regulatory authorities ensure that infant formula products are safe and meet nutritional requirements of babies. infant formula market in the United States is estimated at US$3.9 billion for 2007.
Companies engaged in production of baby foods face cut throat competition, particularly on the innovation platform. Each company is focused on gaining a competitive edge over rivals by introducing new products into the markets from time to time. Major companies operating in the global market for baby foods and infant formula include Nestle, Numico, Abbott Laboratories, Bristol-Myers-Squibb, Gerber, Heinz, Danone, and Hipp. Nestle, Danone, Heinz and Royal Numico. Among these, Nestle is a dominant player with global presence.
Europe represents the leading regional market for baby foods and infant formula products for 2007, capturing more than 30% share of the global sales, as stated by Global Industry Analysts, Inc. However, the large population base in developing regions, particularly India, China and Brazil, is expected to facilitate in shifting the focus of manufacturers to these regions. As a result, Asia-Pacific is projected to emerge as the fastest growing regional market over the 2001-2010 period, driven primarily by the exceptional sales in the Chinese market. Europe would continue to retain its position as the leading baby meals market by 2010, with sales projected to reach US$2.1 billion.
The report titled "Baby Foods and Infant Formula: A Global Strategic Business Report" published by Global Industry Analysts, Inc., offers a comprehensive analysis of the industry structure, market drivers, issues, trends and competition. The study analyzes recent past, current and future market data and analytics over the period 2001-2010, historical data (1991-2000) and long term projections (2011-2015) for regions such as the United States, Canada, Japan, Europe, Asia-Pacific, Latin America, Middle East and Africa.
The report reviews major players in the global and regional baby foods and infant formula market including Abbott Laboratories/Ross Products Division, Organix Brands Ltd., Bristol-Myers Squibb, Mead Johnson Nutritionals, Earth's Best, Groupe Danone, Gerber Products Company, HJ Heinz Company, Hero AG, Beech-Nut Nutrition Corporation, Nestle S.A., Royal Numico N.V, SMA Nutrition, Hipp, and Wyeth Nutritionals, Inc.
For more details about this research report, please visit http://www.strategyr.com/Baby_Foods_and_Infant_Formula_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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