China Baby Food - Market Assessment and Forecasts to 2028

China Baby Food - Market Assessment and Forecasts to 2028

Summary

The number of live births in China stood at 9.6 million in 2022. This is anticipated to decline by 25% during 2022-28. Both the crude birth rate and total fertility rates have fallen. The GDP of China grew by 3% in 2022, while consumer price inflation stood at 2%. Overall growth in value terms has increased in recent years, with the sector registering a CAGR of 2.3% during 2016-22. However, in volume terms, sales decreased in 2022, with the sector declining at a negative CAGR of 2.4%. Baby milks remained by far the largest category in value terms with over 90% of the baby food sector, followed by baby cereals & dry meals. Nestlé, Feihe International, and Danone were the top two companies in 2022. Nestlé had presence in all the baby food categories except baby drinks. E-retailers was the leading distribution channel in the sector in 2022, accounting for over 30% of overall value sales. GlobalData estimates the market for baby food in the country is expected to increase marginally in value terms during 2022-28, at a CAGR of 0.1%.

“China Baby Food - Market Assessment and Forecasts to 2028” is an analytical report by GlobalData which provides extensive and highly detailed current and future market trends in the Chinese market.

What else does this report offer?

• Consumption data based upon a unique combination of industry research, fieldwork, market sizing work and our in-house expertise to offer extensive data about the trends and dynamics affecting the industry.
• Detailed profile of the companies operating and new companies considering entry in the industry along with their key focus product sectors.
• Market profile of the various product sectors with the key features & developments, segmentation, per capita trends and the various manufacturers & brands.
• Overview of baby food retailing with a mention of the major retailers in the country along with the distribution channel.
• Future projections considering various trends which are likely to affect the industry.

Scope

• Value sales of baby milks increased from CNY75.8 billion ($11.4 billion) in 2016 to CNY87.1 billion ($13 billion) in 2022, registering a CAGR of 2.3% during this period.
• Baby cereals & dry meals volumes decreased at a negative CAGR of 2% from 28.25 million kg in 2016 to 25 million kg in 2022.
• Value sales of the baby wet meals & other category rose from CNY2.6 billion ($387.2 million) in 2016 to CNY2.7 billion ($407.4 million) in 2022, at a CAGR of 1%.
• During 2016-22, PCC of baby finger food grew by 60%.
• During 2016-22, PCC of baby drinks fell by 80%.

Reasons to Buy

• Evaluate important changes in consumer behavior and identify profitable markets and areas for product innovation.
• Analyse current and forecast behavior trends in each category to identify the best opportunities to exploit.
• Detailed understanding of consumption by individual product categories in order to align your sales and marketing efforts with the latest trends in the market.
• Investigates which categories are performing the best and how this is changing market dynamics.