The production of baby food in the world in monetary terms is more than 70 billion dollars - Artem Belov

Artem Belov stressed that the baby food market is more stable, as it is less affected by changes in the income of the population. According to him, in this regard, it is very different from the dairy industry as a whole. At the same time, the expert noted that the requirements for product quality are very high among consumers.

The General Director of Soyuzmoloko said that the production of baby food in the world in monetary terms is more than 70 billion dollars. Its average growth rate is 4-4. 5% per year.

According to the expert, one of the key drivers of the market is population growth, especially in Southeast Asia, Africa and the Middle East.

‘The second driver is the rapid increase in household incomes and the growth of the middle class. In addition, the number of working mothers has increased,’ the expert noted.

According to Artem Belov, in the next 10 years, due to population growth and income growth, the baby food market will grow rapidly.

The expert paid special attention to the market of breast milk substitutes, emphasizing that in 2-3 years Russia will have an infrastructure for the production of these products and components for them.

Read the latest news on The DairyNews telegram channel