Baby Drinks Market - Asia Pacific Industry
Baby Drinks Market ( Infant Formula and Baby Juice)- Asia Pacific Industry Analysis Size Share Growth Trend Forecast 2014 - 2020
Albany, NY, October 05, 2016 /KidZNewswire/ -- Asia Pacific baby drinks market is expected to undergo several changes as different patterns are expected in different baby drinks categories .There are two kinds of baby drinks- infant formula and baby juice. Baby juice market is further sub categorized into concentrated and ready to drink baby juice. The Asia Pacific Baby Drinks market is expected to witness growth due to busy lifestyles, increasing number of working women and growing preference of parents towards ready to drink products.
Among the different countries including India, China, Japan, South Korea, Australia and rest of Asia Pacific, China held the largest market share of 37.9% in 2013, followed by India. In 2013 India held a revenue market share of 25.7%. This trend is expected to be the same over the forecast period. It is estimated that China would be the largest market for baby drinks in 2020, followed by India.
The Asia Pacific Baby Drinks market was valued at USD 10494.8 million in 2013 and is estimated to reach USD 18291.6 million by 2020 in terms of revenue. The market in terms of revenue is projected to grow at a CAGR of 7.9% from 2014 to 2020.
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Baby drinks included under baby juice segment are concentrated and ready to drink. The market for infant formula is comparatively larger as compared to the baby juice market. The demand for baby juice is declining across Asia Pacific as it is not very popular. Baby juice has low penetration rate as it is not available everywhere. Moreover, baby juice is also not preferred due to its high sugar content. Consumers mainly prefer infant formula due to changes in lifestyle and rise in the number of working women. Moreover, infant formula is considered the sole source of nutrition for babies .Thus, infant formula segment is expected to dominate the antioxidants market throughout the forecast period of 2014 to 2020. The demand for infant formula has augmented largely due to the increasing awareness of its usefulness.