Findings from Facts and Factors report “Infant Formula Market By Type (Standard, Follow-on, Toddler, and Specialty) and By Distribution Channel (Hypermarkets/Supermarkets, Pharmacy/Medical Stores, Specialty Stores, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”
Global Infant Formula market in 2019 was approximately USD 57.12 Billion. The market is expected to grow at a CAGR of 9.8% and is anticipated to reach around USD 110.26 Billion by 2026.
Infant formula is a food designed and marketed for feeding babies less than 12 months of age. This food comprises of necessary nutrients, vitamins and minerals for development of the infant. The medical professionals suggest this as an alternative to breast milk. It is convenient for working mothers as it can be fed at any place, anytime.
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The growing focus on the nutritional need of the infant formula is primarily driving the market throughout the world. Moreover, increase in number of female professionals and mothers are boosting the sales of baby nutrition products. The rise in number of cases such as lactation, medication, unsupportive work policies are some factors which are bolstering the infant formula consumption. However, the regulatory policies associated with the manufacturing of infant formulas are likely to restrict the demand for the drug over the forecast period. Many countries and regulatory bodies are enforcing strict and safety requirements for producers of goods. For instance, among over 800 international brands, the China Certification and Accreditation Administration (CNCA) have approved sales to only 94 brands. Additionally, prices associated with the manufacturing of goods and the use of high technology in the industry would limit the entry of new entrants. In addition, minimal product awareness in rural Asia Pacific and Africa may in the near future somehow restrict the demand for infant formulas.
The infant formula market is segmented based on type and distribution channel. On the basis of type segmentation, the market is classified into standard, toddler, follow-on, and specialty. The follow-on product segment is holding the largest market share over other. The toddler infant formula is anticipated to be the fastest growing segment in the coming years. In terms of distribution channel segmentation, the market is bifurcated into hypermarkets & supermarkets, pharmacy & medical stores, specialty stores and others. Hypermarket & supermarket holds the major market share in global infant formula market in 2019 as these provide broad range of products, and real time shopping experience. Moreover, heavy discounts are offered by hypermarkets will grow the market demand across the globe.
On the basis of geography, the market has been segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia Pacific infant formula market is leading the market over the years as China has the majority of infant formula producer. Europe will grow at a slow pace relative to APAC region as it has low birth rate. Furthermore, the major fiber optics markets are analyzed into major countries including China, Japan, Italy, India, Japan, Brazil, India, Australia, U.S., Mexico, Germany, UK, Canada, South Korea, UAE, Egypt, France, China, South Africa, and Kuwait among others.
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Some of the essential players operating in the infant formula market, but not restricted to include Nestle, Reckitt Benckiser, Danone, Abbott, Arla Food Ingredients, Perrigo Nutritionals, Hero Group, Otsuka Pharmaceutical Co. Ltd, HiPP, and Bubs Australia among others.
This report segments the Infant Formula market as follows:
Global Infant Formula Market: By Type Segmentation Analysis
Global Infant Formula Market: By Distribution Channel Segmentation Analysis
- Pharmacy/Medical Stores
- Specialty Stores
Global Infant Formula Market: Regional Segmentation Analysis
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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