Asia Pacific Baby Drinks Market is Expected to Reach US$18291.6 mn by 2020 ,Expanding at 7.90% CAGR from 2014 to 2020
The market for baby drinks is mostly consolidated in some of the largest and most prominent country-wide markets in Asia Pacific, with Nestle S.A. accounting for a share of over 69% in India and over 43% in China in 2013, reports Transparency Market Research (TMR) in a recent report. The baby drinks market in Australia also features a markedly high level of consolidation and Heinz Co. accounted for a dominant share of over 64% in the same year.
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The baby drinks markets in Japan, South Korea, and Rest of Asia Pacific are mostly fragmented and feature the active presence of a large number of vendors such as Mead Johnson Nutrition Company, Beingmate Group Co. Ltd., Danone, Raptakos Brett & Co. Ltd., Bellamy’s Organic Pty Ltd, and Nutricia.
Although the markets in India and China are mostly consolidated, indicating the presence of intense entry barriers for small or new entrants, these two leading contributors to the Asia Pacific baby drinks market have a vast share of price-conscious middleclass population. In these markets, new ventures could gain ground with the introduction of high-quality economic products.
Rising Participation of Women in Workforce to Fuel Demand for Baby Drinks
The baby drinks market in Asia Pacific is chiefly driven by factors such as strengthening economies and the resulting rise in disposable incomes, busy lifestyles, and the rising participation of women in the region’s workforce. Infant formulae have started gaining prominence as effective substitutes to breast milk owing to their high nutrition values, authorization from healthcare bodies, and recommendations from doctors and physicians.
The market is also benefitting from the rising availability of a large variety of products, high awareness among parents about the specific nutritional needs of infants, and active promotions by manufacturers of baby drinks. The growing affordability of high-quality products and the decline in skepticism regarding packaged foods for infants are also fueling the overall demand for a variety of baby drinks in Asia Pacific.
Concerns about High Sugar Levels to Dent Long-term Growth Prospects of Baby Juices Segment
It is estimated that the demand for baby juices will witness a significant decline in Asia Pacific in the next few years. Concerns regarding high sugar content and preservatives in packaged juices will emerge as the foremost challenge for the segment of baby juices in the Asia Pacific baby drinks market. Market statistics, however, show that the segment will expand at a higher CAGR than the segment of infant formula across key economies in the Asia Pacific baby drinks market. This trend, nevertheless, will have little impact on the market for infant formula, presently the leading product segment, and the segment will continue to be the largest contributor to the Asia Pacific baby drinks market over the forecasting horizon.
Asia Pacific Baby Drinks Market: Substantial Growth in Store by Value and Volume
Transparency Market Research states that the Asia Pacific baby drinks market will expand at a significant pace over the forecast period. In terms of volume, the market is expected to rise from 1043.3 kg mn in 2015 to 1487.2 kg mn by 2020. In terms of overall valuation, the market is expected to expand from US$12,722.4 mn to US$18291.6 mn by 2020. Of the key distribution channels, the segment of hypermarkets and supermarkets is presently the largest shareholder across key economies in the Asia Pacific baby drinks market.
This review is based on a market research report published by Transparency Market Research, titled “Baby Drinks Market – Asia Pacific Industry Analysis Size Share Growth Trend Forecast 2014 – 2020.”
For this study, the market has been segmented as follows:
Asia Pacific Baby Drinks Market: By Type
Ready to drink
Asia Pacific Baby Drinks Market: By country
Rest of Asia Pacific