Baby Drinks Market Growth in Europe Region | Industry Forecast Report 2024
Posted by Shiva on November 19th, 2019
Europe Baby Drinks Market Overview:
Europe Baby Drinks Market was worth USD 5.09 billion in 2018 and estimated to be growing at a CAGR of 10.3%, to reach USD 7.54 billion by 2023. Baby drinks are infant formula which is known for use by children below the age of 3 years. It is a beverage made to replace the nutrient content of natural breast milk by rehydration with water. The hectic lifestyle of customers and rise in the number of working women have escalated the acceptance of baby drinks in the market. It is an alternative for breastfeeding and gaining popularity in the developed and developing economies.
Europe Baby Drinks Market drivers and restraints:
The escalation in the number of working women, rising birth rate, increasing awareness among parents about the significance of balanced and correct food for babies, and baby drinks as a substitute for breast milk are the factors propelling the expansion of the market. Nevertheless, the declining birth rate in developed countries and the popularization of breastfeeding through government schemes may hinder the development of the market. Rising product portfolio by makers and health & wellness trends might supply with many expansion opportunities over the forecasted years.
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Europe Baby Drinks Market Segmentation:
By distribution channel:
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Europe Baby Drinks Market Regional Analysis:
North America and Europe combinedly account for the prominent share in this market, attributing to the number of working women in these regions. However, the Asia Pacific region is expected to witness rapid growth and overtake these two regions in the coming years.
Important market players:
The major market players are Nestle S.A., Nutricia, Kraft Foods Group Inc., Abbott Laboratories, Sofina SA, Reckitt Benckiser Group Plc. Arla foods, Campbell Soup Company, Hain Celestial Group, and Beingmate Group Co. Limited, among others.
The Scope of the report:
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About the AuthorShiva
Joined: June 11th, 2019
Articles Posted: 88
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