From 2014 to 2017, the demand for infant food in Australia exhibited variability with an initial increase followed by a decline. Between 2014 and 2016, demand increased from 12,000 to 13,000 metric tons, but then dropped to 11,000 metric tons in 2017, reflecting a significant year-on-year decrease of 15.38%. The period from 2018 to 2023 demonstrated stability, with demand stabilizing at 10,000 metric tons by 2019 and remaining consistent through 2023.
The year-on-year variation for 2023 was 0%, with a Compound Annual Growth Rate (CAGR) of 0% indicating stability. For the forecast period of 2024 to 2028, demand is expected to decline slightly, projecting a decrease to 9,000 metric tons by 2028. The forecasted 5-year CAGR is -2.09%, indicating an annual average decline in demand.
Trends to watch for in the future:
- Substitutes and innovations in infant nutrition impacting demand
- Changes in birth rates influencing market size
- Regulatory changes and health guidelines affecting product preferences
- Economic factors influencing consumer purchasing power
- Potential for increased exports to neighboring countries
