PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1627818
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1627818
The kids' food and beverages market is evaluated at US$140.646 billion for the year 2025 growing at a CAGR of 5.68% reaching the market size of US$185.391 billion by the year 2030.
Factors such as accessibility of products, innovative company advertising, significant marketing expenditures, and branding are anticipated to drive kids' food and beverage market growth over the forecast period. Furthermore, increased internet penetration has fueled the market's expansion. Online retailers make it simple for shoppers to choose from a variety of domestic and international products. Since the pandemic, online distribution has grown considerably. For instance, Lindt & Sprungli, the world's top producer of premium chocolate, was able to dramatically raise sales across all markets and distribution channels in 2021. The continued high demand for goods for domestic use and a rebound in goods for gift-giving occasions were significant growth drivers. Additionally, it was revealed that the online business is continuing its trend of double-digit growth. Sales for the group rose to CHF 4.59 billion, representing a tremendous increase in Swiss francs of 14.2 percent (13.3 percent organic).
Kids' food and beverage market drivers
The kids' food and beverage market is expected to surge in the coming years due to the rising penetration of smartphones among kids which is anticipated to increase spending on e-commerce for foods and beverages. Also, the market is projected to grow owing to the nutritional aspect considerations by various players and start-ups.
The increasing smartphone penetration among kids is projected to see a surge in online purchases of kids' foods and beverages through various distributors/manufacturers with an online presence. Also, new and innovative product launches for the kid's food and beverages segment are anticipated to push the market growth further. For instance, Veeba Foods, in September 2021, launched Provee, a jaggery and plant-based drink for kids. The drink is available in variants like malt-based choco and Ragi Badam. Additionally, Gerber, in April 2022, launched a carbon-neutral plant-based food range for toddlers. Also, Starryside Co., announced in February 2022, the launch of their first product, Star Water for Kids. The product is available in flavors like Rockin Root Beer, Beachy Peachy Strawberry, and Magical Mango Pineapple.
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