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 by revenue is expected to grow at a CAGR of 7.70% during the period 2022–2031.
Every infant and child has the right to good nutrition under the Convention on the Child’s Rights. In recent years, the increasing consumer awareness of health, a better understanding of the health and fitness of their children, and increasing adoption of natural and organic infant nutrition products are the major factors driving the market. First infant formula has high potential in APAC as the segment accounts for 47.81% of the market share due to increasing health awareness and personalized nutrition for infants. Rapid modernization and rising disposable income are the prominent reasons for the growing demand for infant nutrition solutions in developing and developed nations. Urbanization is predicted to increase the market potential for the market during the forecast period.
The following factors are likely to contribute to the growth of the infant nutrition market during the forecast period:
• Rising Demand for Natural & Organic Products
• Personalization In Infant Nutrition
• Increasing Consumer Shift Toward Plant-Based Products
• Rising Awareness for Infant Nutrition
The study considers the infant nutrition market’s present scenario and its market dynamics for the period 2020−2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
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• Parent’s keen interest in organic nutrition for infants and sustainability are driving the growth of organic infant formula. 47% of global consumers seek organic food and drinks because of environmental concerns.
• The increasing number of working mothers across the world and the substantial rises in their spending create an opportunity for players to boost up the sales of organic infant nutrition products.
• Nowadays, parents are looking and selecting formulas based on their infants’ needs and preferences, surging the growth of the personalized market. China has the highest potential in this market.
• Nestle, one of the prominent players, goes vegan with plant-based infant formula.
• Rising e-commerce platforms have helped increase the demand for infant food enriched with vitamins such as vitamin D.
• The trend of using probiotic supplements in infant formula, baby food, and supplements for healthy early life is driving the growth of the infant nutrition market.
• Product innovation plays a significant role in the growth of the baby nutrition market.
• In 2020, the APAC infant nutrition market share accounted for the largest share of 44.69%.
• The infant nutrition trend in North America is toward customizing infant nutrition products.
MARKET SHARE AND SEGMENTS
• Follow-on formula is the fastest-growing category of breastmilk substitutes.
• Growing-up formula and toddlers’ milk are marketed as an alternative to whole cow’s milk for children over one year.
• The powder formula segment is expected to add USD 22.70 billion to the market by 2026.
• APAC and Middle East & Africa are expected to witness high traction for powder formula.
• The demand for concentrated liquid formula products is likely to gain momentum as they are easy to mix and more sterilized than powdered formula in the baby nutrition market.
• The global ready-to-feed formula segment will grow at a CAGR of 8.69% in upcoming years.
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Market Segmentation by Product Type
• First Infant Formula
• Follow-On Formula
• Growing-Up Formula
• Specialty Baby Formula
Market Segmentation by Forms
• Powder Formula
• Concentrated Liquid Formula
• Ready-To-Feed Formula
Market Segmentation by Distribution Channels
• Supermarket & Hypermarkets
• Pharmacies & Drugstores
• Online Channels
• Convenience Stores
The large base and rapidly increasing number of consumer’s purchasing power is attracting many multinational brands to invest in the APAC region. For instance, Nestle, one of the key players, entered the third and fourth-tier cities of China and its substitution strategy, contributing to its sales recovery in 2020. Innovative packaging of baby nutrition products is driving infant formula growth, thereby contributing to the development of infant nutrition in the region. In APAC, the players focus on goat milk for producing infant formula, which is augmenting the region’s infant formula market, thereby supporting the growth of infant nutrition. The development of infant nutrition products sales is expected to be higher in lower-tier cities than first and second-tier cities of APAC.
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