The baby drinks markets in Japan, South Korea, and Rest of Asia Pacific are mostly fragmented and feature the active presence of a large number of vendors such as Mead Johnson Nutrition Company, Beingmate Group Co. Ltd., Danone, Raptakos Brett & Co. Ltd., Bellamy’s Organic Pty Ltd, and Nutricia.
Although the markets in India and China are mostly consolidated, indicating the presence of intense entry barriers for small or new entrants, these two leading contributors to the Asia Pacific baby drinks market have a vast share of price-conscious middleclass population. In these markets, new ventures could gain ground with the introduction of high-quality economic products.
Transparency Market Research has published a new market study on the Asia Pacific baby drinks market for the 2014-2020 period. According to the report, the market, which had a valuation of US$10.4 bn in 2013, is expected to attain a valuation of US$18.2 bn by 2020, increasing at a CAGR of 7.90% for the period. The report, titled “Baby Drinks Market – Asia Pacific Industry Analysis Size Share Growth Trend Forecast 2014 – 2020,” is available for sale on the company website.Typically, baby drinks are drinks that are consumed by children below three years of age. In the baby drinks market in Asia Pacific, baby juice and infant formula are the major products and are further broken down into ready-to-drink and concentrated product types.
The report says that the Asia Pacific baby drinks market will display substantial growth in the coming years due to several reasons. First and foremost, the increasing number of women in the workforce is driving sales of baby drinks, mainly infant formula. Women employees require alternative arrangements to feed their children since they can’t tend to them for long hours.
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Infant formula is largely available as dry milk in powder form, which, when mixed with water, becomes liquid and can be fed to small children. The basic component of infant formula is cow milk, which is further treated to be suitable for babies. Ready-to-drink liquids, which are sterile and sold in cartons, are the other form in which infant formula is available in stores.
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.