Albany, NY -- (SBWIRE) -- 09/26/2014 -- In a research report published recently, Transparency Market Research, a U.S.-based market intelligence firm states that the overall Eastern Europe market for baby food and pediatric nutrition recorded a steady augmentation between 2007 and 2011, growing at a CAGR of 17.3% during the period.
The market was estimated to be worth USD 1.7 billion in 2007 and reached USD 3.2 billion in the year 2011. The report, titled “Russia Baby Food & Pediatric Nutrition Market: Analysis & Forecast (2007 - 2017)” states that during the 2007-2011 period, Russia was the fastest growing region in the market generating revenue worth USD 2,015.6 million in 2011. It showed an annual growth rate of 24.02% during that time.
To browse through the ToC or purchase the Russia baby food and pediatric nutrition market report, please visit: http://www.transparencymarketresearch.com/russia-baby-food-market.html
The most important factor that has favored the Russia baby food and pediatric nutrition market is the 2007 government-led initiative of maternity capital that helped bring the birth rate up by 30%. Higher birthrate means increase in demand for baby-specific products including food and pediatric nutrition. Moreover, there was special emphasis laid on developing the children’s product industry, which gave a boost to the baby food market across Russia. This move gave rise to local makers entering a market that was otherwise dominated by international producers. This led to a significant growth of the baby food and pediatric nutrition market in Russia.
The paper by TMR also sheds light on other factors that have influenced the evolving scenario. Parents not just in Russia, but across the globe, have become increasingly aware of what constitutes their baby’s food and the basic nutritional requirement from the ingredients at the early stages of a child’s life. Working parents, especially mothers, have grown more dependent on packaged baby food owing to time constraints and the need to fulfill the child’s dietary needs. In emerging and developing countries it has also become a status symbol to provide a child readymade baby food. Advertisements that support convenient and secure alternatives to breast milk have encouraged women to turn to store-bought baby food.
The report also outlines some of the main factors that hinder the development of the market and future opportunities that will enhance the growth of the industry.
Based on information provided by the research study, it is expected that the overall baby food and pediatric nutrition market of Eastern Europe will grow to USD 6,550.8 million in 2017, from USD 3,580.0 million in 2012, at an estimated CAGR of 12.85% during the period.
The research report has segmented Russia’s baby food and pediatric nutrition industry based on the type of baby food such as dried food, prepared baby food and milk formula. As far as products are concerned, the baby food market is categorized as cereals, snacks, bottled food, soups, and canned or frozen baby foods.
To browse through the ToC or purchase the Russia baby food and pediatric nutrition market report, please visit: http://www.transparencymarketresearch.com/russia-baby-food-market.html