The Global Infant Formula Foods Market is expected to surpass USD 98 billion, at a CAGR of 5.58%. The global infant formula market will be primarily driven by the growing number of working-class women across the globe. Infant formula is a widely accepted alternative for breast milk; hence, the rising population of working mothers, higher spending on baby health, and the rising demand for organic baby food shall drive product demand during the forecast period. Moreover, the increasing per capita income in developing economies has led to a surge in the purchasing power of the population which in turn is anticipated to act as one of the major market driving factors during the assessment period.
The Global Infant Formula Foods Market is broadly classified by Infant Formula Type, Baby Food Type, Distribution Channel, and Top Players/Brands. By Infant Formula (product), the market is broadly classified into First Infant Formula, Growing up, Follow-on, and Specialty Baby. By Baby foods, it is split into Prepared, Dried, and Others. By Distribution channel, the market is split into supermarket, hyper market, convenience store, online, and others.
To determine the market segment, the report covers 26 key players (along with key players’ sales, price, revenue, and market share). A few of them are:
- Mead Johnson Nutrition
In addition, this report discusses the key drivers influencing market growth, opportunities, trends and their impact on present and future development, and the challenges and risks faced by key players and the market as a whole.
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In the report, by region, the global market is divided into Americas (United States, Canada, and Mexico), Europe (Germany, France, UK, Italy, and Russia), Asia Pacific (China
Japan, Korea, Southeast Asia, and India), South America (Brazil, Argentina, and Colombia) and the Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).
The global market is highly regulated with various regulations laid down by The Center for Food Safety and Applied Nutrition under the U.S. FDA. It lays down regulations regarding the nutrient specifications in baby food products, and provides the maximum and minimum ranges of necessary nutrient content in infant formula products. According to FDA, minimum ranges of 29 nutrients need to be used in infant nutrition products.
Asia Pacific is projected to be the major revenue earning region and shall exhibit the highest gains of over 10% CAGR. Europe was the second most revenue generating market in 2018. Follow-on product segment accounted for over 40% market share; supermarkets accounted for major market share in the global baby food market in 2018.
Infant nutrition is a substitute food for breast milk. The initial six months after birth plays a very crucial role in the development of a child. Breast milk is highly nutritious and contains carbohydrates, proteins, fats, minerals, and vitamins imperative for the development of the child. However, in certain cases, mothers may not be able to produce breast milk or breastfeed the baby due to other reasons. In such cases, infant nutrition products act as a suitable substitute.
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