Food and beverage market to reach US$ 138.8 billion by 2023, fueling growth with demand CAGR of 6.2% in Europe and the United States

The children’s food and beverage market is a dynamic industry that caters to children’s dietary needs and preferences. With a focus on health and nutrition, companies offer innovative and attractive products, including snacks, beverages and ready-to-eat meals, aiming to strike a balance between taste and health to meet consumer demands. parents and children.

The global children’s food and beverage market is expected to reach a valuation of US$ 138.8 billion in 2023 and is expected to register a CAGR of 6.2% from 2023 to 2033. The global children’s food and beverage industry report children also predicts the valuation to reach $253.3 billion by 2033.

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The global market for children’s meals and beverages is growing, largely driven by rising family incomes across the world. The company’s growth has also been aided by effective advertising targeting certain age groups and leveraging digital media to convince customers from diverse cultural backgrounds. Many players have made advertising their primary marketing strategy because of the importance it adds to the success of children’s items. Governments pass laws that limit the promotion and advertising of children’s foods due to misleading commercial objectives. Incredibly, the rate of overweight children under five is currently increasing in both high- and low-income countries. Future market limits are therefore anticipated.

Some countries in the European Union have banned the advertising of HFFS products to audiences in certain age groups in an attempt to reduce the market share available to local companies. Parents are increasingly choosing foods with less sugar due to the problems posed by childhood obesity and its increasing overall prevalence. New products containing less sugar, more protein and more fresh fruit and vegetables have recently been launched by children’s drink manufacturers.

Key takeaways

• According to IMF market forecasts, overall demand for this product category in the United States is estimated at $63.6 billion by 2033.
• Sales of children’s food and beverages are expected to register a CAGR of 9.3% in China, compared to any other country.
• Positive market influences include the expansion of e-commerce platforms in emerging economies and the growing popularity of packaged food products worldwide.

Competitive landscape

Atkins Nutritionals Inc., Britvic Plc, Brothers International Food Corp., Campbell Soup Company, Conagra Brands Inc., Elevation Brands LLC, General Mills Inc., GlaxoSmithKline Consumer Healthcare Ltd., GlaxoSmithKline Plc, Kellogg Company, Lifeway Foods Inc., McKee Foods Corporation, Mondelez International, Nestlé SA, PepsiCo Inc, The Kraft Heinz Company, Tipco Foods Public Company Limited, Want Want China Holdings Ltd. Among others, some of the important players in the global children’s food and beverage industry.

Recent DEVELOPMENTS

• Danone launched the Dairy & Plants Blend formula in July 2022, in response to requests from parents for food options suitable for vegetarian and plant-based diets, while meeting the specific nutritional needs of their children. According to the Gerber company, the Plant-tastic line of plant-based and carbon-neutral baby foods launched into the market in April 2022. It is sponsored by Nestlé and sells a range of pouches, snacks and meals Complete organic nutrient-based products. rich, plant-based sources.

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Below are the segments of the children’s food and beverage market.

By product type:

• Frozen food
• Dairy products
• Beverages
• Cereals
• Meal
• Self-stable product
• Snacks (salty and sweet)
• Fortified foods
• Others

By age group:

• 2 to 3 years
• 4 to 8 years
• 9 to 13 years old
• 14 to 18 years old
• Others

By category:

• Organic
• Conventional
• Others

By distribution channel:

• Pharmacies or pharmacies
• Supermarkets or hypermarkets
• Convenience stores or retail stores
• Online distribution channel
• Other distribution channels

By region:

• North America
• Latin America
• Europe
• East Asia
• South Asia and the Pacific
• The Middle East and Africa (MEA)

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