The Asia Pacific baby drinks market is competitive in nature with a presence of a large number of players operating in it, states a market intelligence report by Transparency Market Research (TMR). The prominent players, including Nestle S.A., Nutricia, and Heinz Co. are currently dominating the Asia Pacific baby drinks market and are expected to collectively account for a key share of the market in the next few years. The growing focus of these players on the expansion of product portfolio is expected to encourage the growth of the market and witness substantial growth. Moreover, the rising number of players entering the Asia Pacific baby drinks market is likely to toughen the competitive scenario of the overall market.
According to the research study by Transparency Market Research, in 2015, the Asia Pacific baby drinks was worth US$12.70 bn and is predicted to reach a value of US$18.29 bn by the end of 2020. The market is likely to register a healthy 7.90% CAGR between 2014 and 2020.
Rising Awareness about Advantages of Baby Drinks to Bolster India Market
From a geographical perspective, China is expected to lead the Asia Pacific baby drinks market and reach a value of US$6.88 bn by the end of 2020. High awareness among consumers regarding the benefits of different types of baby drinks is one of the vital factors anticipated to encourage the growth of the market in the forecast period. On the other hand, India is projected to witness progressive growth in the next few years, owing to the increasing birth rate. Additionally, the constant efforts being taken by the key companies to offer baby drinks with high nutrient content is likely to drive the demand in the forecast period.
On the basis of product type, the infant formula segment is anticipated to lead the Asia Pacific market and account for a key share in the next few years. The rising consciousness of parents concerning the significance of proper and balanced nutrition for babies is projected to fuel the growth of this segment in the next few years. In addition, with the increasing advertising activities and easy availability, the infant formula segment is likely to witness high demand in the coming years.
Introduction of Innovative Products to Bolster Asia Pacific Baby Drinks Market
The rising demand for several types of baby drinks is one of the key factors driving the Asia Pacific baby drinks market. In addition, the rising working women population and the busy lifestyles are expected to encourage the growth of the market throughout the forecast period, says a TMR analyst. The use of infant formula as a substitute for breast milk and the high nutrition content offered by baby drinks are some of the other factors anticipated to fuel the market’s growth in the coming years.
Furthermore, the expansion of product portfolio and the introduction of new formulas are the vital factors attracting the consumers to consider the option of baby drinks. This is likely to contribute extensively towards the development of the overall market. In addition, the expansion of the distribution channels and network will encourage the market’s growth in the near future.
Improving Market Penetration to Offer Promising Opportunities
The Asia Pacific baby drinks market, on the contrary, is expected to witness several challenges, which will restrict the growth of the overall market in the coming years. The low awareness regarding the availability and the benefits of baby drinks in emerging economies are some of the factors that are likely to curtail the growth of the market. Nevertheless, the rising focus on marketing activities and campaigns to enhance the market penetration of consumers are predicted to encourage the growth of the Asia Pacific baby drinks market in the coming years.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Baby Drinks Market (Infant Formula, Baby Juice, Concentrated, and Ready to Drink) - Asia Pacific Industry Analysis Size Share Growth Trend Forecast 2014-2020.”
The market has been segmented as below:
Asia Pacific Baby Drinks Market, by Type
- Infant Formula
- Baby Juice
- Ready to drink
Asia Pacific Baby Drinks Market, by Country
- South Korea
- Rest of Asia Pacific
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