In terms of revenue, Asia Pacific baby drinks market was valued at USD 10494.8 million in 2014. The market is expected to expand at a CAGR of 7.9% from 2015 to 2020 to account for USD 18291.6 million in 2020. In terms of volume, Asia Pacific baby drinks market was valued at 863.6 million units in 2014 and is anticipated to reach 1487.2 million units in 2020, expanding at a CAGR of 7.7% from 2015-2020.
Baby drinks comprises baby juice and infant formula. All baby drinks based on fruit juices that are designed for the consumption by children under three years are included under baby juices. Examples of baby juices are Gerber Ready-To-Drink Pear Juice and Heinz All Ages among others. Infant formula is a dried milk product that is formulated to duplicate the nutrient content of natural breast milk by rehydration with water. Infant formula drinks are most commonly based on cow milk or soy milk and the examples include Nutrica Infant Formula, Hipp Organic First Infant Milk and Pasteur Baby Milk. Baby drinks in Asia Pacific are mainly distributed through hypermarkets, supermarkets, independent retailers and convenience stores.
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The key players operating in baby drinks market are Nestle S.A.(Switzerland), H.J. Heinz Company(United States), Mead Johnson Nutrition Company(United States), Danone(France) and Beingmate Group Co. Ltd.(China) among others.
The demand for baby juice is declining across Asia Pacific as it is not very popular. Moreover, baby juice has low penetration rate in this region as it is not available everywhere. Consumers mainly prefer infant formula due to rise in the number of working women and changes in lifestyle. Moreover, infant formula is considered to be the sole source of nutrition for babies. High nutrition content in baby drinks coupled with the preference of doctors for baby drinks is anticipated to boost the growth of this market in the major countries of Asia Pacific including India, Japan, Australia and China among others during the forecast period.
Active promotions by baby drinks manufacturers, health and wellness trends and growing varieties of products are the major drivers contributing to the expansion of the baby drinks market in Asia Pacific. Based on different types of baby drinks, infant formula is anticipated to witness substantial growth over the anticipate period, as it is the best substitute for breast feeding and consumers are more interested to have quick meals due to their busy life style.
The baby drinks market has been segmented by types of baby drinks into –baby juice and infant formula. Baby juice is further segmented into ready to drink and concentrated. Infant formula market is anticipated to dominate the baby drinks market in Asia Pacific during the forecast period. Increasing consciousness of parents regarding the significance of balanced and proper nutrition for babies is one of the important driving factors of baby drinks market in Asia Pacific. In addition, the demand for baby drinks has increased in Taiwan due to increase in the birth rate in 2012.
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By country, the market has been segmented into India, South Korea, Australia China, Japan and Rest of Asia Pacific. China, among all the countries has experienced high growth in the forecast period followed by the India and Australia. Trend shows that demand for baby juice is declining across Asia Pacific and consumers prefer infant formula due to busy lifestyles and easy to make factors. Increasing number of working women and increase in birth rate are the key drivers responsible for the growth of baby drinks market in Asia Pacific. However, the major restraint for the baby drinks market is low birth rates in Japan and a preference for breast feeding among others.