Global Infant Formula Market: Overview
Infant formula is a baby food manufactured and marketed for feeding the babies falling under the age of twelve months. The product is prepared for either cup or bottle feeding on liquid or the powder. According to the U.S. FFDCA, infant formula is a food represented as a special dietary used for infants by the reason of its aptness as a total or partial alternative for the mother’s milk.
Global Infant Formula Market: Growth Factors
Increase in the infant mortality rates resulting in the bulge in the infant populace will have a favorable impact on the growth of the infant formula market in the coming years. Additionally, the rise in the working mother population along with economic development is key to the infant formula industry expansion. Apart from this, the rise in the middle-income group population across the globe will lead to massive product penetration in both developed as well as developing countries and this will lead to astounding market growth. Moreover, an increase in the number of supermarket/hypermarket stores will ensure product availability, thereby steering the infant formula market in the near future.
Furthermore, the escalating growth of e-commerce activities has prompted the rise in the online purchase of the product, thereby stimulating the market growth trends. Nevertheless, strict legislation related to the manufacture of infant formula will curtail the business scope. Additionally, high manufacturing costs related to the product and massive use of technology in the business will cusp the market evolution. In addition to this, the promotion of breastfeeding among the mothers as the best way to strengthen and boost the immune system of the infant will put brakes on the market expansion.
Global Infant Formula Market: Segmentation
The global infant formula market can be segmented into product type and distribution channel. On the basis of product type, the industry is sectored into toddler, standard, specialty, and follow-on. Based on the distribution channel, the infant formula market is classified into online stores, hypermarkets, and convenience stores.
Global Infant Formula Market: Regional Analysis
Based on the region, the global infant formula market can be divided into five main regions: The Middle East and Africa, North America, Europe, Asia Pacific, and Latin America. Asia Pacific infant formula industry is set to witness a tremendous expansion over the years ahead, owing to massive product consumption in the densely populated regions such as India and China.
Moreover, the European region is projected to contribute a large share of the overall market share over the estimated timeframe. The growth of the industry can be accredited to high consciousness about baby health and various schemes introduced by the government to promote product use.
North American and Latin American markets have huge growth potential and are expected to contribute immensely toward the overall market revenue.
Global Infant FormulaMarket: Competitive Players
Few of the main participants in infant formula market are Nestlé S.A., Perrigo Nutritionals, Bubs Australia, Mead Johnson, Arla Food Ingredients, Danone S.A., Hero Group, Abbott Laboratories, HiPP, and Otsuka Pharmaceutical Co. Ltd.
Global Infant Formula Market: Regional Segment Analysis
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