Annual Baby Food and Drink Market Overview - International - 2014
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This global annual market overview will provide you with an in-depth review of the key issues in the global baby food and drink market through 2013 as well as our forecast for what will happen in 2014 and beyond.
In recent years, the market has enjoyed strong growth and is forecast to keep doing so. China is by far the largest market, worth US$17 billion, the equivalent of more than 3 times the size of the US market, the second largest.
The Chinese market is fuelled by 16 million births a year and parents’ readiness to spend their increasing income on their single child. In the US, the baby food and drink category has struggled in the years following the 2008 recession.
A lacklustre economy and the resultant poor consumer confidence along with higher formula prices left consumers wary to spend. However, innovation in packaging for both formula and baby food products allowed for more versatility of use and for use of baby food by older toddlers, expanding the consumer base for the category.
Unlike in China and the US where the baby food market is driven by a large number of births, the Russian baby food and drink market relies on high consumption per capita amongst the 1.8 million babies born each year. The year 2013 was very buoyant in terms of innovation. The growth was primarily driven by the dessert, fruit and yogurt subcategory that accounted for one in 5 new products.
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