The
baby drinks market in Asia Pacific 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.
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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.”
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