All over the world the recent scenario of baby food market represents the significant growth in all the regions of the market which is related to baby food market whereas, the economy of Slovakia is not much updated in the baby food sector as Slovakia is the second poorest country in the European region. The baby food market is not only affected by the lowest birth rate but also with the economic conditions in the country. However, the region has been renowned up since 2014. According to the report analysis, ‘The Baby Food Sector In Slovakia, 2018’ suggests that in the volume, the baby food sector grew by only 1.6% between 2011 to 2017, although in 2013 the market has grown by almost 11% as the number of births picked up. In addition, the market for the baby food has expanded, due to price increases and the swing towards more sophisticated products.
In the recent trend, most of the key players of this industry distribute nutrition, health and wellness related products in the economy of Slovakia which results the growth in the market. Whereas, Nestle Slovenskos.r.o. is the leading player after the Nutricia with nearly one-fifth share in the market. Nutricia acquires more than one-third share in the market of baby food product. The Nutricia is exploring more fields of baby food with the numerous methods whereas, it is performing excellently in the market with the more researches in the baby food product. In addition, HiPP Slovakia and Hero group are also prominent market players of this market which providing flavored food product and individually acquire around one-tenth of the market share. HiPP is well known for the organic food products which available in the market with various flavors. Whereas, the Hero Group is encouraged by the homemade food and with the effective method of producing baby food they majorly aims on the healthiest output and they strictly avoiding artificial preservatives. Moreover, the key player are majorly benefitted by the mergers and acquisitions, joint ventures, subsidiaries and others over the various countries.
With the new innovations and development in the technology by the leading players with the organic options the Slovakia economy is undergoing through a significant transformation which resulted in the market growth of the baby food sector. Not only has this, the increase in the disposable income, development in the economy and others the growth driver of the market. With the radica transformation in the economy leads to busy schedule of the working women and the baby cannot be feed up properly which results in significant increase in the demand for the prepared food product from the market. Therefore, the market of the baby food product in the Slovakia is growing in the upcoming years with the effective functioning of the key players with the thought of infant’s health and nourishment.
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Ankur Gupta, Head Marketing & Communications