The global infant formula market size was USD 45.12 Billion in 2018 and is anticipated to surpass USD 103.75 Billion by 2026. As per the report, the market is expected to rise at a CAGR of 8.30% in the forecast years.
Rising awareness about the nutritional benefits of infant baby products is spurring growth in the global infant formula market. This shows that the demand for infant nutrition products will increase, with manufacturers embarking on designing the formulations that closely replicates the composition of breast milk.
Despite a decrease in birth rates, infant milk formula is gaining huge attention primarily owing to the increase in working women population. Introduction of innovative packaging, premiumization, new changes in ingredient mix is driving the infant formula market growth. This, coupled with the delivery of effective communication on product offerings, is expected to benefit the long-term growth of the market.
The report sheds light on the detailed evaluation of the market based on segments, competitive landscape, and dynamics. Furthermore, the report offers detailed information on the important facets of the market which include drivers, restraints, opportunities, trends, and threats. The information collated in the report has been taken from several primary and secondary sources.
Expert’s Recommendation to Use Infant Milk Will Help the Segment Emerge Dominant
Among different types of infant formula, infant milk is expected to cover the major portion of the infant formula market share. A lead analyst at Fortune Business Insights says, “The segment witnesses’ strong sales growth in emerging economies on account of the lack of substitutes in the market.” He added, “Owing to the lack of nutrient-dense and convenient products, manufacturers are planning to develop a plethora of new infant formulae products such as infant milk.” In addition to this, physicians also recommend the use of infant milk than follow-on-milk owing to their superior nutritional value and is the best substitute for breast milk.
The medicalization of infant milk formula addresses some of the general health conditions in infants and children which include constipation and indigestion. Considering the rising awareness about infant formula, consumers demand organic, 100% lactose, GMO-free and other product differentiations in infant milk products.
List of the major players operating in the global infant formula market include;
- Nestle S.A.
- Danone SA
- Arla Foods amba
- Yili Group
- The Kraft Heinz Company
- Bellamy’s Organic
- Perrigo Company plc
- Reckitt Benckiser Group plc.
- Royal FrieslandCampina N.V.
The companies such as Danone SA, Nestle S.A., and Abbott are leading the market owing to their product portfolio. Other companies are also putting constant efforts to strengthen their position in the market.
China Registers 11.30% CAGR and is the Fastest Growing Market for Infant Formula Products
United States: The infant formula market in the U.S. was worth USD 2.66 billion in 2018 and is projected to reach USD 5.07 billion by 2026. The market is expanding owing to the rising focus on value-added infant formulae with the best ingredients and regulatory practices. The intervention from the public sector coupled with the efforts from key brands has led to effective penetration of infant nutrition products among almost every household of the country irrespective of varied ethnicity.
China: The market in China is anticipated to register a CAGR of 11.30% between 2019 and 2026. The elimination of the ‘one-child’ policy and rapid consolidation of the domestic industry are factors creating growth opportunities for the market in China. Also, the rising awareness about infant care and nutrition is enabling growth in the market, augmenting the infant formula market size in Asia Pacific.
Browse Summary of Infant Formula Market Size Research Report: https://www.fortunebusinessinsights.com/industry-reports/infant-formula-market-101498
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