The global infant formula market size is projected to be worth USD 103.75 billion by the end of 2026 owing to the increasing awareness about their nutritional value and health benefits worldwide. Infant formulae, commonly known as baby milk is food designed for babies under the age of 12 months. It is usually in the form of a powder that can be easily mixed with water or any liquid and then bottle-fed or cup-fed to the infant. A recent report by Fortune Business Insights 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,” predicts the market to rise from USD 45.12 billion earned in 2018 by exhibiting a CAGR of 10.85% between 2019 to 2026.
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List of the Companies Operating in the Market:
- Reckitt Benckiser Group plc.
- Bellamy’s Organic
- Yili Group
- Nestle S.A.
- Royal Friesland Campina N.V.
- Perrigo Company plc
- The Kraft Heinz Company
- Arla Foods amba
- Danone SA
- Other vendors
The Report Answers the following Questions
- How fierce is the market competition?
- How will favorable population dynamics impact the infant formula market?
- Which strategies are adopted by vendors to earn the lion’s share in the market?
- What is the future of this market?
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.
Browse Summary of This Research Insights with Detailed TOC:
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 2018 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 2018 and is anticipated to register a CAGR of 11.30% from 2019 to 2026. 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.
Quick Buy – Food & Beverages Infant Formula Market Research Report:
Abbott, Nestle S.A., and Danone SA to Hold Strong Position in Market with Product Innovation
Nestle S.A. holds 22% of the infant formula market share with its strong presence worldwide. It is emphasizing on the development of new infant products for holding the lion’s share in the market. Besides this, Danone SA also holds a significant share in the market owing to its expanded network in the e-commerce platform worldwide. Besides this, the company is also adopting collaborative strategies such as joint ventures and partnerships to stay at par with the safety standards of quality infant formula and increase its product portfolio to various geographies.
Some of the Key Industry Developments of the Infant Formula Market include:
October 2018 – A new infant formula called ‘A2 Baby Formula’ was launched by Nestle S.A. for product expansion in the Australian market.
January 2019 – An optimized comfort concept for whey protein easy digest infant formula was launched by a subsidiary of Arla Foods amba called Arla Foods Ingredients.
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