World News: 09:05 GMT Thursday 7th November 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Nov. 07, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.
The future of Australia baby food looks not so attractive since the current market is largely impacted by huge demand from Chinese and other Asian countries. The market is expected to grow at a significant single-digit CAGR during the five year forecast period 2018-2023E. Milk Formula is expected to remain the largest growing segment by the end of the year 2023E.
Australia baby food market has shown remarkable growth in the past few years. It witnessed positive CAGR in the review period 2013-18.
Increase in women workforce, rising population of infants from age 0-36 months, latent demand from China and growing urbanization are some of the major factors contributing to the positive growth. A shift in the preference of consumers was also witnessed in the review period.
Organic baby food witnessed a huge demand due to the rise in parental concerns and awareness about the products. Bubs organic, Bellamy's Organic Bio Bambino, Holle Baby Food, Rafferty Garden, Only organic and many more were some of the major brands selling organic baby food in Australia.
Growing-Up milk formula emerged as the growing category among the milk formula in the five year review period. The major reason behind this growth is that maternity leave is only for 18 weeks and therefore, making mothers more dependent on milk formula for the nutrition of the baby.
The majority of the milk formula sales in Australia were contributed through growing-up milk formula products due to a large number of infants falling in the age group of above 12 months. The largest market share was held by infants above 12 months or more in the year 2018.
In terms of nature, inorganic baby food held a maximum share of retail sales as inorganic items costs much lesser than their organic counterpart, therefore, making them the most preferred category.
New South Wales established itself as a market leader by capturing a massive revenue share for retail sales of baby food in the year 2018. It was followed by Victoria and Queensland since they are among the most populated states in Australia.
Supermarkets and Health stores are the most preferred channel for buying baby food by consumers in Australia. Subsequent purchases after consulting health experts are majorly made from these renowned and trustworthy megastores. Online also emerged as one of the preferred channels for distribution due to the increase in the number of internet users and also being convenient and time saving.Competition within Australia baby food market was observed as concentrated with more than half of the market being captured by international players while the rest share is being held by other domestic and regional players.
Major international companies in the market are Danone Group, Nestle, Kraft Heinz, Aspen Pharmacare, and PZ Cussons while domestic and regional players are The A2 Milk Co, Bellamy's Australia, Bubs Australia, and many others.
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Globe Newswire: 09:05 GMT Thursday 7th November 2019
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