Infant Nutrition Market Size to Reach Revenues of USD 106.84 Billion by 2026 - Arizton
CHICAGO, Aug. 11, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global infant nutrition market report.
The infant nutrition market is expected to grow at a CAGR of over 7.70% during the period 2020−2026.
Key Highlights Offered in the Report:
- The WHO and the Pan American Health Organization recommend exclusive feeding breast milk for infants for six months. Infants receiving breastmilk exclusively for six months rarely require additional vitamins and minerals.
- First infant formula is best suitable for newborns. This formula contains two types of proteins, namely whey and casein. The formula is relatively easier to digest than other types of formula.
- APAC is expected to witness the highest growth during the forecast period. The region will generate USD 19.78 billion in additional revenues during the forecast period.
- China has the highest demand for infant formulas and a significant presence of local infant formula brands, and the country has the largest share in the global infant nutrition market.
- Mothers have high awareness of infant formula ingredients from whey. In China, around 55% of mothers would prefer products contained whey proteins.
- The first infant formula product segment dominated the market and accounted for a share of 48.35% in 2020. In the same year, the follow-on formula, the growing-up formula, and the specialty baby formula segments with shares of 25.50%, 18.28%, and 7.87%respectively.
- The global follow-on formula market is expected to grow at a CAGR of 7.63% to reach USD 27.14 billion in during the forecast period.
- Arla Foods, one of the other prominent players, has invested nearly USD 0.66 million in R&D to focus on infant formula.
Key Offerings:
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, form, distribution channel, and geography
- Competitive Landscape – 5 key vendors and 22 other vendors
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Infant Nutrition Market – Segmentation
- First infant formula or first milk is the first formula is the suitable source of nutrition from birth to six months and as part of a weaning diet from 6 months to 12 months. It is advisable to give breast milk or formula milk as drinks to infants aged below 12 months.
- Concentrated liquid formulas and ready-to-feed formulas are popular as they are relatively easier to handle than powder formulas. However, they are more expensive, although safer than powder formula. The two form types accounted for a combined market share of approximately 40.23% in 2020 and are expected to witness considerable growth during the forecast period.
- Most of the major players have started offering a broad range of infant drinks through supermarkets and hypermarkets. Moreover, these markets follow sales strategies such as discounts, buy one get one offers, and complimentary products to attract more consumers.
Infant Nutrition Market by Product Type
- First Infant Formula
- Follow-On Formula
- Growing-Up Formula
- Specialty Baby Formula
Infant Nutrition Market by Forms
- Powder Formula
- Concentrated Liquid Formula
- Ready-To-Feed Formula
Infant Nutrition Market by Distribution Channels
- Supermarket & Hypermarkets
- Pharmacies & Drugstores
- Online Channels
- Convenience Stores
- Others
Infant Nutrition Market – Dynamics
Presently, health-conscious consumers have become increasingly curious about how the foods they consume are manufactured, especially those for children. The concept of organic products precedes the environmental aspects, including traceability, quality, and the feeling of naturalness. Organic products are grown or processed without synthetic fertilizers or pesticides. Most markets are shifting toward natural claims that are not category-specific and in the pediatric nutrition area. Therefore, sustainability and health care concerns are propelling the demand for organic infant nutrition products. Furthermore, the keen interest among parents to procure organic infant nutrition products and ensure sustainability is driving the demand for organic infant formulas. In 2019, nearly 10% of the global new product launches for infant formulas featured an organic claim, increasing by 7% since 2015.
Key Drivers and Trends fueling Market Growth:
- Personalization in Infant Nutrition
- Increasing Consumer Shift Toward Plant-Based Products
- Rising Awareness of Infant Nutrition
- Prebiotic & Probiotic Supplementation in Infant Nutrition
Infant Nutrition Market – Geography
In 2020, APAC accounted for the largest revenue share of 44.69%. The growth of the region is majorly driven by increasing awareness among consumers regarding infant nutrition and huge growth opportunities for infant formula in the lower-tier cities in countries such as China. Also, the region is witnessing a substantial increase in consumer base and consumers purchasing power. Hectic lifestyle and growing awareness of the health benefits of organic food have encouraged consumers to opt for more organic and natural infant nutrition products. Moreover, rising disposable income has increased the purchasing power of consumers, which is encouraging them to opt for personalized infant nutrition to meet the needs of their babies.
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Infant Nutrition Market by Geography
- APAC
- China
- Japan
- Australia
- South Korea
- India
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Middle East & Africa
- South Africa
- UAE
- Latin America
- Brazil
- Mexico
- Argentina
Major Vendors
- Abbott
- Danone
- Nestle
- Mead Johnson & Company
- Perrigo Company
Other Prominent Vendors
- Meiji Holdings Company
- Reckitt Benckiser
- Arla Foods
- Bellamy's Organic
- FrieslandCampina
- Parent's Choice Infant Formula
- The Kraft Heinz Company
- Beinmei Company
- Glanbia
- Dana Dairy Group
- GCMMF
- HiPP
- Hero Group
- Ausnutria Dairy Company
- Babynat
- Earth's Best
- FASSKA
- Yashili International Holdings
- Happy Family Organics
- Holy baby food
- Else
- MORINAGA MILK INDUSTRY COMPANY
Explore our health & wellness profile to know more about the industry.
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