Albany, NY, July 2, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research Baby Drinks Market - Asia Pacific Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020, Asia Pacific Baby Drinks market was valued at USD 10,494.8 million in 2013, at a CAGR of 7.9% from 2014 to 2020 to account for USD 18,291.6 million in 2020.The Baby Drinks market is mainly driven by the change in lifestyle and rise in the number of working women class. India among all the Asia Pacific countries has experienced high growth in the forecast period followed by Australia and China. Trend shows that baby juice is in decline across Asia Pacific and consumers prefer infant formula due to busy lifestyles. Increase in the number of working women and increase in birth rate are the main drivers responsible for the growth of baby drinks market in Asia Pacific.
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The Asia Pacific Baby Drinks market is segmented by product type into infant formula and baby juice. The market for infant formula is comparatively larger as compared to the baby juice market. Demand for infant formula is expected to remain high in the coming years as it is the best substitute for breast milk. Doctors also recommend infant formula due to its high nutrition content. Therefore, this segment is expected to dominate the Baby Drinks market throughout the forecast period of 2014 to 2020.
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The demand for Baby Drinks has augmented largely due to the increasing awareness about its usefulness. Infant formula held the highest market revenue accounting for USD 10,371.5 million in 2013 and is expected to remain so throughout the forecast period.
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Infant formula accounted for 98.8% revenue share in the overall Baby Drinks market in 2013. The Asia Pacific baby juice market by type is sub categorized into - concentrated and ready to drink. The demand for ready to drink baby juice is high because of busy lifestyles of parents and increasing preference of consumers towards ready to drink products. Ready to drink baby juice is expected to grow at a CAGR of 9.8% over the forecast period from 2014 to 2020.Geographically, China led the Baby Drinks market in 2014 in terms of revenue and the country is expected to continue its dominance throughout the forecast period. Baby boom, abolition of one child policy and increase in demand for standard infant formula are mainly driving the baby drinks market in China.
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Infant formula segment leads the baby drinks market as infant formula products have become an accepted choice as breast milk substitute. India and Australia followed China in the Asia Pacific Baby Drinks market to collectively account for more than fifty percent of the Asia Pacific market revenue share.
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The report provides distribution channel analysis and company market share analysis of the various industry participants in Asia Pacific which includes Japan, Australia, China, India, South Korea and rest of Asia Pacific. In addition, the report also covers the baby drinks types in Asia Pacific. Key players have also been profiled on the basis of company overview, financial overview, business strategies and recent developments in the field of Baby Drinks market. Major market participants profiled in this report are Nestle S.A., H.J. Heinz Company, Mead Johnson Nutrition Company, Danone and Beingmate Group Co. Ltd.
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Asia Pacific Baby Drinks Market: By Type
- Infant Formula
- Baby Juice
- Ready to drink
The report provides a cross-sectional analysis of all the above segments with respect to the following countries:
Asia Pacific Baby Drinks Market: By country
- South Korea
- Rest of Asia Pacific
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research