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.
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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.
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.
In Asia Pacific, with the increasing purchasing power and large amounts of disposable income of consumers, parents are tending to adopt easy nutrition and nourishment means for babies, which include ready-to-drink baby products. Other than this, in countries in Asia Pacific such as China and India, the increasing birth rate will foster the development of the baby drinks market in this region.
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The report segments the Asia Pacific baby drinks market on the basis of product type into baby juice and infant formula. Between the two, infant formula exhibits higher demand and the product segment contributed 98.8% of the total revenue in the overall market in 2013. The product segment had a valuation of US$10.3 bn in 2013 in the Asia Pacific baby drinks market and it is expected to retain its lead position throughout the forecast period.
The report presents several reasons for the consistently rising demand for infant formula. Infant formula is regarded to be the closest alternative to breast milk, hence, it is strongly recommended by physicians for its nutrient content. This is the prime reason for the expected dominance of the infant formula segment in the baby drinks market in the coming years.
On the contrary, baby juice exhibits low demand due to limited availability of the product in Asia Pacific. In addition, baby juice is high in sugar, which makes it unsuitable for babies to be given on a regular basis. This is impeding the demand for baby juice in the Asia Pacific baby drinks market.