As per the report published by Fortune Business Insights, the global infant formula market size was valued at USD 45.12 Billion in 2018 and is anticipated to surpass USD 103 Billion by 2026. 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.
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.
Fortune Business Insights in a new study, titled “Infant Formula Market Size, Share & Industry Analysis, By Type (Infant Milk, Follow-on-Milk, Others), Distribution Channel (Hypermarkets/ Supermarkets, Pharmacy/ Medical Stores, Specialty Stores, Others), and Regional Forecast, 2019-2026” states that the global market is anticipated to report a remarkable CAGR of 10.85% during the forecast period. The report sheds light on the detailed evaluation of the market based on segments, competitive landscape, and dynamics.
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List of the best 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.
Researchers at Denmark and Japan Discovered New Infant Formula with Same Sugars as Breast Milk
Of these, 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.
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.
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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 public sector coupled with the efforts from key brands have led to effective penetration of infant nutrition products among almost every households of the country irrespective of varied ethnicity. As per the report, the market is expected to rise at a CAGR of 8.30% in the forecast years.
China: The market in China is anticipated to register a CAGR of 11.30% between 2019 and 2026. The elimination of ‘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.
Some of the developments marked by the report are:
January 2019: A subsidiary of Arla Foods Amba called Arla Foods Ingredients revealed a new infant formula concept called easy digest whey protein. The company aims to reduce gastrointestinal issues by changing the number of proteins used.
August 2019: Danone Nutricia announced the launch of a new and advanced infant formula called Karicare Toddler. This product is made with pure New Zealand sheep milk.
September 2019: Researchers at the Technical University of Denmark and Kyoto University discovered a new infant formula which is as good as breast milk. It contains the same sugars and can be given to children who are not breastfed.
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