Evolve Business Intelligence has published a half-cooked research report on the Global Kids Food Market, 2021–2030. The global Kids’ Food market is projected to exhibit a CAGR of around 4.78% during the forecast period of 2022 to 2030.
Evolve Business Intelligence has recognized the following companies as the key players in the global Kids Food market are The Simply Good Foods Company, Britvic PLC., General Mills Inc., Nestlé, Kellogg family of companies, The Kraft Heinz Company, McKee Foods, PepsiCo Inc., Vitaco, KRISPY KERNELS Foods.
The global Kids’ Food market is projected to be valued at $ 144.229 Billion by 2030, recording a CAGR of around 4.78% during the forecast period. A kid’s food market is a place where children can purchase food that they would find in a typical supermarket, grocery store, or convenience store. The primary difference between a kids’ food market and other marketplaces is that the primary goal of children’s markets is to meet the nutritional needs of young children. Typically, parents or caretakers shop for children’s food at these types of markets.
One of the reasons convenience stores have become so popular around the world, during the pandemic, is that they offer low-priced and ready-to-eat food. There is a high demand for quick service and discounted items in general. This comes from the increasing demand for single portion foods, as well as labor shortages from cutting agricultural inputs to produce more crops. Parents need to provide their children with healthy meals during times when they are also working from home. With the growing popularity of companies such as Nestle and Pepsi, it’s easier than ever to provide families with a healthy meal.
The global Kids Food market has been segmented based on the Product type, Age-Group, Distribution Channel, and Region.
By Product Type, the Kids’ Food market is segmented based on Bakery Products, Dairy Products, Cereals and Grains, Snacks, Fruits and Vegetables, and Beverages. The Bakery Products segment dominates the market. This can be linked to the strong inclination of children toward bakery products such as cakes, biscuits, and chips. Though parents would not want their kids to always consume these products due to rising cases of obesity, the rising healthy vegan alternatives have boosted the demand for this segment.
Based on the age group, the Kids’ Food market is segmented based on 2-8 years, 9-13 years, and 14-18 years. The 14-18 years segment is anticipated to hold the largest market share due to increased awareness among the kids of this age group about health and diet plans. The 2-8 years application segment will witness significant growth due to the effect of increased government initiatives on improving nutrition levels. Plus, a more healthy lifestyle is more likely to develop children with better eating habits from an early age.
Based on Distribution Channel, the kids’ Food Market is segmented into supermarkets, online stores, specialty stores, grocery stores, and convenience stores. The Grocery stores dominate this application segment. Struggling to compete with one another in grocery stores, the majority of the product manufacturers began aggressive marketing and lucrative pricing schemes. Another fastest-growing segment is online distribution channels.
The Kids Food market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. The North American region is projected to dominate the global Kids’ Food market. The region is expected to maintain its position over the forecast period. A healthy diet is becoming more and more popular, as well as government and private organizations directing a greater amount of spending toward nutrition for children. However, due to a rise in disposable income and the increased variety of kids’ food by major players across the region, Asia-Pacific is expected to outstrip all other areas by clocking the highest CAGR. The Kid’s Food business in Europe has been consistently growing. The Middle East is predicted to develop at the fastest rate. This development is attributed to several factors including increasing demand for high-quality and affordable food, emphasis on a healthier lifestyle among youth, and favorable demographics. Latin America and Africa are expected to grow at a rapid pace.