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The growing popularity of offline traditional stores is helping traditional suppliers/distributors to gain maximum revenue share in Canada market.
PORTLAND, OR, US, April 14, 2023 /einpresswire.com / -- The canada baby food market size was valued at $1.3 billion in 2018 and is projected to reach $2.4 billion by 2026, growing at a CAGR of 7.60% from 2019 to 2026. The cereals segment accounted for approximately 47% of the total Canada baby food market share in 2018. Surge in awareness for nutrition, rise in parental concerns, rapid urbanization coupled with a significant increase in the working women population and surge in government initiatives for infant care are the major drivers of the Canada baby food market.
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In addition, continuous innovation by some key players in the Canada baby food market facilitates variety in their product offerings, which cater to the requirements of their target customers. The launch of new flavors coupled with attractive packaging enables to garner considerable attention of the millennial parents. Furthermore, appealing advertisements through various channels including social media, television commercials, and radio help to reach the target customers and expand the consumer base.
Top Key Players
The key players in the Canada baby food industry include Nestlé S.A., Danone, Plum, PBC, Hain Celestial, Diana Group, Mead Johnson & Company, LLC, Abbott, Loblaws Inc., Parent's Choice Infant Formula, and Kraft Heinz Company.
Regional Analysis:
The rapid distribution of information coupled with the massive adoption of internet in Canada have propelled the use of e-commerce as a distribution channel. Ecommerce proves beneficial as it allows consumers to shop as per their convenience as well as enables price comparisons. Thus, it is used as a platform to boost the sales of baby food products. In addition, online technologies allow product differentiation and alleviate price competition, which is opportunistic for the Canada baby food market growth.
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Manufacturers utilize these media channels to create consumer awareness regarding their baby food product offerings and their consequent benefits to sustain the intense competition in the Canada baby food market. For instance, the company Plum Organics features real stories, comic videos, and shareable badges on their website as a means of advertisement.
Key Benefits of the Report
- Based on type, the cereals segment accounts for the largest share in the baby food market analysis in 2019, however the dried baby food segment is expected to grow at the fastest CAGR of 9.5% during the forecast period.
- Based on distribution channel, the offline store/retail store segment accounts for the larger Canada Baby Food Market demand in 2019, while the online
segment is expected to experience growth at the fastest CAGR of 9.5% during the forecast period.
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Organic products have been gaining steady share in retail market. More than half Canadians buy organic food weekly. This purchasing behavior pattern among the consumers creates huge opportunities for the organic baby food sector. In addition, due to increase in health consciousness among consumers, the preference for organic and clean-labelled products has increased significantly. Therefore, the high demand for natural and organic products continues to provide numerous opportunities for the manufacturers.
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