The global ready-to-drink formula market is projected to reach a noteworthy valuation by 2022. Demand for ready-to-drink formula is gradually gaining traction owing to rising awareness regarding its advantages. It is the most convenient type of formula as it does not require water to be added to it before feeding. It has greater retention of natural nutrients as compared to regular formulas and is, therefore, less likely to constipate babies. Increasing uptake of breastfeeding alternatives for specified maternal conditions and greater flexibility and convenience will keep the demand for ready-to-drink formula high in coming years.
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Widening base of working women is likely to provide an upthrust to the market. Ready-to-drink formula offers an attractive alternative to working mothers, meeting their need for healthy and nutritious intake for their babies. Apart from working women, this formula is emerging as a go-to supplement for mothers with the inability to lactate sufficiently owing to medical conditions, dietary instructions, addiction to drugs or nicotine, and concerns of breastfeeding in public places.
Rapid urbanization and growing middle-class population are prompting parents to adopt convenience-oriented lifestyles, which in turn can positively impact the growth of the market. Changing retail scenario, along with growing popularity of e-commerce as a new distribution channel, can also provide a fillip to the market. Rising disposable income is playing an important role in stirring up the adoption of ready-to-drink formula. Parents are leaning toward optimal health nutrition products for their babies to ensure sufficient growth and development.
On the flip side, stringent regulations are acting as a major hurdle in the approval of ready-to-drink formula. Countries such as China have increased stringency in terms of quality and safety standards for distributors and manufacturers of this formula. Moreover, this type of formula is more expensive than regular formula, which limits their widespread adoption, especially in developing countries.
The global ready-to-drink formula market has been segmented on the basis of product, end users, and region. Based on product, the market has been classified into 32 fl oz, 8 fl oz, 6 fl oz, and 2 fl oz. In terms of end users, the ready-to-drink formula market has been fragmented into premature, newborns, infants, and toddlers.
Key regions reviewed in the ready-to-drink formula market report are North America, Europe, Southeast Asia, Japan, India, and China. North America will continue to account for a substantial share in the market through 2022. The growth of the region can be attributed to well-developed pharmaceutical and biotechnology industries. High disposable income of people and domicile of a large number of key players can drive the market in the region. Europe will also hold a prominent position in the market, owing to a large population of working women in the region.
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Asia Pacific ready-to-drink formula market, on the other hand, will exhibit promising growth during the same period. Rapid urbanization and rising disposable income of the populace are anticipated to work in favor of this market.
Key companies are targeting developing regions to tap into immense potential of these economies. For instance, Ofmom will soon launch a premium infant ready-to-drink formula in China, which has already gained significant popularity in developed markets of Europe and North America owing to its rich nutrition. Some of the prominent players in the ready-to-drink formula market are Cow & Gate, Aptamil, Gerber, Mead Johnson, and Abbott.
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