Baby Infant Formula Market to Generate USD 45,348 Million by 2022, at a CAGR of 9.5%
Global baby infant formula market size is expected to bet $24,043 million in 2018, and is projected to reach $45,348 million by 2025, registering a CAGR of 9.5% from 2018 to 2025. In 2018, the infant milk segment accounted for more than half of the market share in the global market, both in terms of revenue and volume.
Baby infant formula comprises products with increased levels of energy, protein, and certain vitamins and minerals necessary for proper development of baby. Physicians recommend infant formula milk and follow-on-milk to babies under 12 months as a substitute to breastmilk, while specialty baby milk and growing-up milk are recommended to baby more than 12 months for their overall development. Infant formula simulates breastmilk and is considered suitable as its complete or partial substitute.
High nutrition content in baby infant formula, change in lifestyle, rise in middle-class population, and increase in disposable income of people in emerging economies, such as India, China, Indonesia, are expected to propel the baby infant formula market growth from 2018 to 2025.
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In 2018, infant milk is expected to account for high share in the market, and is expected to maintain its dominance during the forecast period. It contains vitamins and nutrients, such as iron that can help prevent anemia. Some types of infant formula are supplemented with probiotic called Bifidobacterium Lactis, which prevent diarrhea, ease colic, and lower the risk of food allergies. Active launch activities and promotion of infant formula in the U.S. and UK have led to its high penetration rate.
Growth in awareness among consumers has led to increase in preference for organic baby food products. Thus, baby infant formula free from ingredients such as added sugar, sodium, and preservatives may present novel opportunities for the baby infant formula manufacturers. However, concerns related to food safety and decline in global birth rate may hamper the market growth.
In 2017, infant milk is estimated to account for the highest market share owing to rise in physician’s recommendation to use infant milk as a substitute to breastfeeding, as it is healthy and nutritious choice along with better convenience. Iron-rich infant milk helps prevent anemia. Various infant milks are supplemented with probiotics, which help to prevent diarrhea, ease colic, and lower the risk of food allergies.
In 2018, hypermarkets distribution channel is anticipated to generate the highest revenue and would maintain its dominance during the forecast period. Whereas, pharmacy/medical store is expected to grow at the highest CAGR of 10.6% from 2018 to 2025.
In terms of value, Asia-Pacific and Europe collectively contributed around two-third of the market share in the Baby infant formula market in 2018.
The key players profiled in the report include Abbott, Arla Foods Amba, Campbell Soups, Dana Dairy Group Ltd, Danone, D-Signstore, HiPP GmbH & Co. Vertrieb KG, Reckitt Benckiser (Mead Johnson & Company LLC), Nestle S.A. and The Hain Celestial Group.
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