According to the Global Baby Food Market By Product Type, By Point of Sale, By Age, By Region, Competition Forecast and Opportunities, 2012 - 2022 report, the global baby food market is projected to pass the $82 billion mark by 2022. Last year, the milk formula segment dominated the global baby food market and is expected to continue to do so over the next five years. Some of the companies expected to hold the largest market shares during the same time period are Abbott, Danone, Heinz, Mead Johnson and Nestlé.
A number of factors are contributing to the growth of the baby food market. Some of these include rising health concerns about the overall development of babies, an increasing consumer awareness about the health benefits of baby food, the growing worldwide population, increased urbanization, greater disposable income and changing lifestyles. Industry innovation and marketing also are responsible for the increase in demand for the products.
