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A new market research report from MarketsandMarkets, “Global Baby Food Market (2009-2014),” has found that the worldwide baby food market is expected to be worth $37.6 billion by 2014, with an estimated compound annual growth rate (CAGR) of 5.0 percent from 2009 to 2014.
While the United States and Europe each hold a major share of the global baby food market, the report noted that emerging economies such as China, India, Brazil, Russia, and Romania are also beginning to spend serious dollars on such items.
North America, the largest baby food market, is expected to be worth $14.17 billion by 2014, accounting for nearly 37 percent of total global revenues. Europe, the second-largest segment, is expected to reach $10.8 billion by 2014, with a CAGR of 4.4 percent. The Asian baby food market, however, is tipped to grow at the highest CAGR -- that of 8.6 percent -- from 2009 to 2014.
The report identified jarred baby food as the largest market segment -- one that is expected to reach $9.9 billion by 2014 at a CAGR of 4.9 percent from 2009 to 2014. The markets for baby cereals and frozen baby food are estimated to attain revenues of $9.9 billion and $7.8 billion, respectively, in 2014, driven by increasing awareness of such products, particularly in Asia, Meanwhile, the baby soups and snacks markets, which are estimated to hit $3.9 billion and $5.9 billion in revenues, respectively, in 2014, offer prime opportunities for growth, since these segments currently feature only a limited number of products.
Wilmington, Del.-based research and consulting firm MarketsandMarkets publishes 120 market research reports annually.