The Argentina baby food market is projected to grow steadily over the forecast period of 2022-2027. The purchasing power of the Argentinian population has been steadily increasing, hence, the demand for baby food is on the rise. According to data from the World Bank, the GNI per capita PPP (current international $) has increased from $17,440 in 2010 to $20,220 in 2020. Also, strong demand for baby food products like milk formula and prepared baby food is seen from the middle and high-income consumers, which is expected to augment the market growth during the forecast period. Milk formula holds a significant share in the market. An increasing number of working women in the country is anticipated to lead to a further rise in the sales of baby products in Argentina. Moreover, the surge in the urban population and the increasing interest of parents in organic baby food are expected to boost the demand further in the coming years.
The COVID-19 pandemic had a positive impact on the baby food market in Argentina. The implementation of lockdown in the country prompted the parents to stockpile baby food products for their babies. Hence, the sales of baby foods jumped in the initial months of the coronavirus outbreak. Furthermore, people turned more health-conscious during the pandemic as people with low immunity were more vulnerable to the coronavirus. This prompted the parents to purchase organic and healthy baby food products for their babies, which further augmented the market's growth amid the pandemic.
Growing urban population
Although Argentina is a highly urbanized country, the urban population in the country has constantly been increasing. With the rise in urbanization, the lives of the people in Argentina are getting busier, and more and more parents are now opting for baby foods for their babies. According to data from the World Bank, the urban population of Argentina has increased from 37.056 million in 2010 to 41.797 million in 2020, witnessing a growth of around 13% over a decade. In addition, as per the World Urbanization Prospects by the Department of Economic and Social Affairs of the United Nations, the urban population of Argentina is projected to surge to 45.994 million by 2030, witnessing a growth of more than 10%. Furthermore, the urban population in Argentina is projected to reach 52.564 million by 2050, witnessing a growth of more than 25% from 2020 to 2050. This growing trend of the urban population in Argentina is anticipated to surge the demand for the baby food market in the coming years.
Rising working women
The number of working women has increased in Argentina over the years. It is further projected to increase in the coming years, which is expected to have a positive impact on the baby food market in the country, as the tendency to buy readymade baby food increases when women are working. According to data from the World Bank, the percentage of females in the total labor force in Argentina has increased from 41.25% in 2014 to 43.27% in 2019.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Growth Rate | CAGR of during the forecast period |
| Base year | 2019 |
| Forecast period | 2021–2026 |
| Forecast Unit (Value) | USD Billion |
| Segments covered | Product Type, Category, Distribution Channel, And Geography |
| Regions covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies covered | La Sibila, Nestle, Danone, Reckitt Benckiser Group plc, Abbott |
| Customization scope | Free report customization with purchase |
Segmentation