The global infant formula market size was more than USD 59 billion in 2019 and will witness 10.8% CAGR during the forecast timespan 2020 to 2027.
The global infant formula market size is projected to reach around US$ 105 billion by 2027.
Rise in the number of women joining workforce post giving birth, the inability of mothers to lactate, and parents seeking additional sources of nutrition for their babies are among the key factors expected to boost sales of infant formula ingredients in the years to come. Apart from this, infant formula ingredients manufacturers have invested in R&D, which is further expected to drive the growth of the infant formula ingredients industry in the years to come.
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Drivers & Restraints-
Innovations in Product Flavoring will Help Add Impetus to Market
The rise in the world population stands as a major factor in promoting infant formula market growth. In addition to this, favorable population dynamics and the rising awareness about the nutritional benefits of this formula is also adding a boost to the market. Furthermore, most mothers today prefer infant formula for their newborn voluntarily instead of breastmilk and this is also augmenting the growth of The market.
This, coupled with the innovations in this product as per the increasing needs of parents who seek differentiation in the formula is propelling players to introduce value addition and premiumization to products. This includes innovative packaging, flavoring, milk of different animals, and other loaded nutrients. Such initiatives taken by players are likely to aid in the expansion of the market in the coming years.
On the contrary, stringent regulations imposed on product quality may pose a major restraint to the market in the coming years. Nevertheless, the rising preference for plant-based infant formula and increasing market for alternate animal milk sources are likely to create lucrative growth opportunities for the market in the coming years.
Segment:
Hypermarkets/Supermarkets Segment to Continue Dominance on Account of Availability of Mass Merchandizing
Based on the distribution channel, the hypermarket/ supermarket segment bagged the highest share in 2019 and is likely to continue dominating in the future. This is backed by the presence of mass merchandising that includes one and all products and convenient shopping experience in the form of separate baby sections, bundling schemes and offers, and others.
China Earned Highest Share, Helping Asia Pacific Dominate Market
Chine emerged as the fastest-growing market for infant formula products in 2020 and is anticipated to register a CAGR of 11.40% from 2020 to 2027. This is owing to the rising demand for favorable birth rate, rising dependency for high-quality premium products for infants, and the fact that China is the major production hub of infant formula products globally. Therefore, Asia Pacific is likely to continue its dominance in the coming years.
On the other side, the U.S. market will also face remarkable growth in the coming years on account of the price reduction imposed on infant products as part of various women and child welfare schemes by the government.
By form, the powder segment is projected to dominate the market during the forecast period.
Infant formula ingredients are commonly used in the powdered form, owing to its ease of handling compared to liquid infant formula ingredients. Several types of infant formula ingredients such as carbohydrates, proteins, some fats, and prebiotics are commonly used in powdered form by infant formula manufacturers. Thus, high growth prospects lie ahead for powder infant formula manufacturers in the coming years, especially from the emerging countries.
By source, the cow milk segment is projected to dominate the market during the forecast period.
Cow milk-based ingredients find widescale usage across Europe and North America regions owing to its acceptance as a cost-effective manufacturing process, and cow milk-based ingredients are available in bulk. Apart from this, most of the infant formula manufacturers use cow-based ingredients, including Nestlé S.A. (Switzerland), Abbott Laboratories (US), and Mead Johnson & Company, LLC (US).
Key Players
Some of the key players in the infant formula market are Nestlé S.A., Abbott Nutrition, Groupe Danone, Mead Johnson Nutrition, The Kraft Heinz Company, Beingmate Baby & Child Food Co. Ltd., Meiji Holdings Co. Ltd, Synutra International, Inc., Pfizer Inc. and Friesland Campina, and many other small players.
Market Segmentation
Based on Type, the market has been segmented as follows:
Based on the Source, the market has been segmented as follows
Based on Application, the market for infant formula ingredients has been segmented as follows
Based on the Form, the market for infant formula ingredients has been segmented as follows:
Based on the Region, the market has been segmented as follows:
The Infant Formula market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Infant Formula market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Infant Formula market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Infant Formula market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Infant Formula market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Infant Formula capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Infant Formula by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Infant Formula market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Infant Formula market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Infant Formula market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Infant Formula industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Infant Formula market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Infant Formula market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Infant Formula market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Infant Formula market. These factors have benefited the growth of the global market for Infant Formula. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Infant Formula. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Infant Formula are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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