South Korea Baby Food Market Assessment and Forecasts to 2029: Deceleration in South Korea's Birth Rates Influences Baby Food Sector Dynamics [Yahoo! Finance]
Abbott Laboratories (ABT)
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Source: Yahoo! Finance
Additionally, the per capita consumption (PCC) of and per capita expenditure (PCE) on baby food in South Korea are compared at regional and global levels. Dublin, Dec. 24, 2024 (GLOBE NEWSWIRE) -- The "South Korea Baby Food - Market Assessment and Forecasts to 2029" report has been added to ResearchAndMarkets.com's offering. The number of live births in South Korea declined by 35.7% during 2017-23, reaching 230,000 in 2023. This resulted in a baby population of 0.7 million in 2023. The GDP of South Korea grew by 1.4% in 2023, while consumer price inflation stood at 3.6%. Overall sales in value terms declined in recent years with the sector contracting at a negative CAGR of 2% during 2017-23. Likewise, in volume terms, sales decreased during 2017-23, dropping at a negative CAGR of 4.4%. Baby milks remained the largest category in value terms with over 50% of the baby food sector, distantly followed by baby wet meals & others. Maeil Dairies, Namyang Dairy Products, and Ildong Food
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