LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global baby puffs and snacks market to grow at a CAGR of close to 7% during the forecast period, according to their latest report.
The research study covered by Technavio on the global baby puffs and snacks market for 2017-2021 provides detailed segmentation based on the product type (baby snacks and baby puffs), and geography (the Americas, EMEA, and APAC).
Analysts at Technavio forecast the global baby puffs and snacks market size to reach USD 4.48 billion by 2021. The Americas will be responsible for generating the highest revenue and maximum incremental growth in the market through the forecast period.
Request a sample report: http://www.technavio.com/request-a-sample?report=55736
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Technavio analysts highlight the following three factors that are contributing to the growth of the global baby puffs and snacks market:
- Rise in number of working women
- Rising birth rates in developing countries
- Growing urbanization
Rise in number of working women
“The increased number of working women have pushed many families to the middle-class bracket, which has resulted in them shifting to convenience-oriented lifestyles. This is creating a high demand for puréed baby foods and organic baby foods,” says Manjunath Reddy, one of the lead analysts at Technavio for food research.
An increase in the number of working women has resulted in increased disposable income to the family, which is encouraging new mothers to buy nutritional and tasty snacks for their infants. Additionally, working women employ babysitters to care for their infants for a part of the day, which is also increasing the demand in the market.
Rising birth rates in developing countries
There is a healthy new birth rate in emerging economies such as Latin America, Oceania, the Middle East, North Africa, and Sub-Saharan Africa. These regions are steadily improving in terms of their economy and working conditions, leading to a higher standard of living of the general populace. This rising birth rate, combined with the rise in disposable income will fuel the demand for baby food in these markets.
Growing urbanization
“An increasing percent of the population is shifting to urban areas since the last five years. The penetration of internet enabled devices is rapidly increasing in these urban areas, which is aiding consumers to gain more detailed information about baby foods and their benefits, which is driving the growth of the baby puffs and snacks market,” says Manjunath.
The rising urbanization has also resulted in increasing disposable incomes and thereby, the purchasing power of consumers. Therefore, the growing urbanization, coupled with rising internet use, is expected to drive the growth of the market over the next five years.
Browse Related Reports:
- Global Baby Food and Infant Formula Market 2016-2020
- Global Organic Baby Food Market 2016-2020
- Global Dried Processed Food Market 2016-2020
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like alcoholic beverages, food service, and non-alcoholic beverages. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
