Global Baby Drinks Market to Generate $41.61 Billion by 2023: AMR

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Portland, OR, Jun 09, 2020 (GLOBE NEWSWIRE via COMTEX) -- Portland, OR, June 09, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research,the global baby drinks industry generated $20.93 billion in 2016, and is estimated to generate $41.61 billion by 2023, growing at a CAGR of 10.4% from 2017 to 2023.The report provides a comprehensive analysis of key market trends, top investment pockets, drivers & opportunities, major segments, and competitive landscape.

Increase in number of working women, high percentage of nutrition in the infant formula, and surge in demand from emerging countries drive the growth of the global baby drinks market. However, concerns regarding food safety and declining birth rate restrain the market growth. On the other hand, preferences for organic food & drinks create new opportunities in the coming years.

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Covid-19 scenario:

Health authorities of various countries have set stringent guidelines for manufacturing of dairy productsfor consolidating immune system of babies during the coronavirus outbreak.

However, the demand for baby drinks has been reduced to avoid possible exposure to infections. The supply chain has been disrupted due to lockdown.

The report offers a detailed segmentation of the global baby drinks market based on product, application, distribution channel, and region.

Based on product, the infant formula segment contributed to the largest share in 2019, accounting for nearly 94% of the total revenue, and is estimated to maintain its lion's share during the forecast period. However, the baby electrolytessegment would witness the largest CAGR of 11.1% from 2017 to 2023.

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Based on distribution channel,the supermarketssegment accounted for the largest share in 2019, holding nearly two-fifths of the total share, and is estimated to maintain the highest contribution during the forecast period. However, the pharmacy/medical storesegment is estimated to witness the highest CAGR of 11.8% during the forecast period.

Regionally, Asia-Pacific accounted for the highest share, contributing to more than half of the total share in 2019, and is estimated to maintain its lead position during the forecast period.However, LAMEA is estimated to portray the largest CAGR of 11.5% from 2017 to 2023.

Key market players operating in the global baby drinks market include Nestle S.A., Abbott Laboratories, Heinz and Hain Celestial Group, Danone, Mead Johnson Nutrition Company, LLC., HiPP GmbH & Co., Beingmate Group Co. Ltd., Arla Foods, Campbell Soup Company, and D. Signstore.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact: David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141 International: +1-503-894-6022 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1-855-550-5975 help@alliedmarketresearch.com Web: https://www.alliedmarketresearch.com Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research/

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The MarketWatch News Department was not involved in the creation of this content.