Infant Nutrition Market expected to grow high CAGR of 7.7% from 2019 to 2026
According to a new report published by Allied Market Research, titled, ” Infant Nutrition Market by Product Type, Form, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026,” the global infant nutrition market size was valued at $34.2 billion in 2018, and is projected to reach $61.6 billion by 2026, registering a CAGR of 7.7% from 2019 to 2026. The most significant factor that influences a child growth and development is nutrition. Infant nutrition are produced for feeding babies and infants, which are usually under 12 month of age and also it is prepared from liquid or powder. Infant nutrition facilitates healthy growth and development of babies, improves cognitive performance and development, prevents them from allergies, and increases gastrointestinal health & immunity. The global infant nutrition market analysis is segmented on the basis of product type, form, distribution channel and region.
According to Federal Food, Drug, and Cosmetic Act, infant nutrition means a food that purports to be or is represented for special dietary use solely as a food for infants by reason of its simulation of human milk or its suitability as a complete or partial substitute for human milk.
The number of women as a part of the labor workforce has increased over the past few years due to rise in literacy rate. The ratio is estimated to increase in the near future, owing to the supportive government policies. The ease and convenience provided by these baby products offer parents lesser time in manual preparation of baby foods and simultaneously take care of the babies, which is expected to boost the infant nutrition market demand during the forecast period.
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Moreover, consumer prefer to purchase infant nutrition from stores such as supermarkets and retail stores; however, this scenario is changing and customers are moving toward online channels. Online sales have evolved as a key source of revenue for many companies. The online sales market is expected to expand at a higher rate in the near future owing to the rapid penetration of smartphones, increase in m-commerce sales, and ease in payment options. However, the collaborative initiatives of various organizations, such as World Health Organization (WHO) and United Nations International Children’s Emergency Fund (UNICEF), have increased the overall awareness about breastfeeding among women. This in turn limits the overall revenue generation for the global infant nutrition market.
Continuous innovation in product functionality and performance along with coherent strategies such as tailored packaging, which reflect the healthy ingredients in the sustaining infant nutrition market trends, allow major players in the market to sustain in the consumer-centric market. Moreover, attractive and convenient packaging acts as a key selling point for leading manufacturers. As a result, prominent players in the market have introduced baby food in a variety of packaging formats, including, but not limited to stand up pouches, glass & plastic containers, cans, and others.
Key Findings of the Infant Nutrition Market :
Based on product type, the infant milk segment dominates the global infant nutrition market in 2018, and is expected to retain its dominance throughout the forecast period.Depending on form, the solid segment accounted for highest share in the infant nutrition market growth in 2018, and is projected to grow at a CAGR of 7.5% from 2019 to 2026.By distribution channel, the pharmacy segment was the major shareholder in 2018, and is projected to register a CAGR of 8.1% from 2019 to 2026. Region wise, Asia-Pacific accounted for about 44.2% infant nutrition market share in 2018, and is expected to grow at a CAGR of 8.2%.
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The key players operating in the infant nutrition industry include Abbott, Arla Foods Amba, Campbell Soups, Dana Dairy Group Ltd., Danone, Nestle S.A., Reckitt Benckise (Mead Johnson & Company LLC), Perrigo Company Plc, Heinz Baby, and Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF).
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