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Hungary Baby Food Market Size and Forecast to 2026 - Analysing Categories, Distribution Channel and Consumer Attitude

Hungary Baby Food Market Size and Forecast to 2026 - Analysing Categories, Distribution Channel and Consumer Attitude

  • November 2021
  • 136 pages
  • ID: 6196363
  • Format: PDF
  • GlobalData

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Hungary Baby Food Market Size and Forecast to 2026 - Analysing Categories, Distribution Channel and Consumer Attitude

Summary
“Hungary Baby Food, 2021” is an analytical report which provides extensive and highly detailed current and future market trends in the Hungarian market.

The total number of live births in Hungary recorded a marginal 0.8% increase during 2014-2020. Moreover, the forecast increment in number of live births over 2020-2026, allied to the decline in breastfeeding rates, translates into a bigger total addressable market for baby foods. GDP fell by 6.2% in 2020 as a result of the COVID-19 outbreak and consumer price inflation stood at 3.2%. The combination of economic pressures and the high price of baby food has, however, deterred higher consumption levels. Overall growth in value terms has been good in recent years; the market registering a CAGR of 3.97% during 2014-2020. Baby milks remained the largest category in value and volume terms, accounting for more than 45%, followed by cereals with a 43.5% share in 2020. Danone Group, HiPP, and Nestlé were the top three companies. Danone Group retained the top spot in value and volume terms during 2014-2020 and remained leader in both the milks and cereals categories. Drug stores and pharmacies represent the leading distribution channel in the Hungarian baby food sector, with over 50% of value sales in 2020. The analyst estimates that the number of live births will continue to increase over the forecast period, growing baby food sales, albeit slowly. Based on these assumptions, the market for baby food in Hungary is expected to show a marginal volume growth, registering a CAGR of 1.01% during 2020-2026.

What else does this report offer?
- Consumption data based upon a unique combination of industry research, fieldwork, market sizing work and our in-house expertise to offer extensive data about the trends and dynamics affecting the industry.
- Detailed profile of the companies operating and new companies considering entry in the industry along with their key focus product sectors.
- Market profile of the various product sectors with the key features & developments, segmentation, per capita trends and the various manufacturers & brands.
- Overview of baby food retailing with a mention of the major retailers in the country along with the distribution channel.
- Future projections considering various trends which are likely to affect the industry.

Scope
- The Hungarian baby food sector grew from Ft17.7 billion (US$76.3 million) in 2014 to Ft22.4 billion (US$72.8 million) in 2020, registering a CAGR of 3.97%. In volume terms, the sector grew from 7.14 million kg in 2014 to 7.82 million kg in 2020, registering a CAGR of 1.52%.
- The baby milks category grew from Ft7.9 billion (US$34.2 million) in 2014 to Ft10.2 billion (US$33.1 million) in 2020, registering a CAGR of 4.25%. The category accounted for the highest value share of the overall baby food sector in 2020, with 45.5%.
- Per capita consumption of cereals grew by 3.8% from 2014 to 2020. The average intake per baby (aged up to three years) stood at 1.3 kg in 2020.
- The baby wet meals category grew from Ft7.7 billion (US$33 million) in 2014 to Ft9.7 billion (US$31.6 million) in 2020, registering a CAGR of 4.02%.
- Per capita consumption of baby drinks among babies (aged up to three years) stood at 2.9 kg in 2020, compared to 3.1 kg in 2014.

Reasons to Buy
- Evaluate important changes in consumer behavior and identify profitable markets and areas for product innovation.
- Analyse current and forecast behavior trends in each category to identify the best opportunities to exploit.
- Detailed understanding of consumption by individual product categories in order to align your sales and marketing efforts with the latest trends in the market.
- Investigates which categories are performing the best and how this is changing market dynamics.

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