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When mothers do not breast-feed, or only do so partially, there is a legitimate market for infant formula and for suitable ingredients from which to prepare it; that all these products should accordingly be made accessible to those who need them thus creating a market segment for Brest Milk Substitutes. Breast milk is the finest nutrition for babies. However, sometimes mothers are instructed to avoid breastfeeding. In such instances, formula feeding is recommended to act as a substitute for breast milk. Breast milk substitute formulas are administered to babies till they turn 12 months old
Covid-19 scenario analysis:
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future owing to the demand for vaccine and treatment drugs for COVID-19. This in turn is expected to have a significant impact on the breast milk substitutes market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis:
Product and its type’s analysis:
By Formula Type Insights: A powdered breast milk substitute is estimated to advance strong over the projected years. The powdered formulas are basically used breast milk substitute owing to ease of preparation and high cost-effective in differentiation with other types of breast milk substitute formula. To boost, leading market players includes Nestle, Abbott Nutrition and Danone among few others are majorly involved in manufacturing of powdered formulae. Preliminary factors will enlarge the adoption rate of powdered breast milk substitute over the forecasted period.
Ready-to-use breast milk substitute accounted for ample revenue growth in 2020. The formula type offers high infertility, safety and is convenient option for the working-class women. Ready-to-use breast milk substitutes offer favourable time-effectivity; moreover, it is costly than other breast milk substitutes, that may hamper its options. However, such breast milk substitutes can be used for new born with high risk of infection thus expands the sector.
By Substitute Type Insights: The milk-based substitute market dominates the global market with highest shareholder in 2020 and is expected to lead its role in forthcoming years. The utilization of milk-based substitute has increased over the time as cow/goat milk is additive breast milks nutritional qualities to the babies. The cow milk is strengthened with vitamin D and calcium aid the whole body growth along with bone development of baby. In addition, milk-based new-born formula contains vitamins, minerals, vegetable oils and iron for the child growth. So, milk-based substitute is the most commonly used substitute type will boost the industry through the forecasted period.
The hypoallergenic formula market is anticipated to increase in global market in forecasted span. Hypoallergenic milk substitute are of basically protein hydrolysate formulas recommended for new-born unable to abide cow’s milk or soy-based formulae. Hypoallergenic formula contains hydrolysed proteins that may partly or broadly hydrolyse into smaller sizes found in cow milk or soymilk, so helping the new born with allergies. Thus, rising prevalence of eczema, food allergy and asthma should lead the segment growth over the coming years.
Market analysis:
Increasing number of working women in developed and developing countries will be the major factor driving breast milk substitute’s market growth. Rising initiatives to drive women education and empowerment is stimulating increase in the working-class women, especially across the low and middle income nations. Busy work schedules do not favor breastfeeding and may act as hindrance to the baby’s growth. Hence, numerous women prefer infant formula to achieve sub-optimal development and growth of the baby, which will highly impact breast milk substitute’s market growth over the forthcoming years.
Drivers:
Factors such as rapidly increasing urbanization, growing number of working females across the world, long working hours, launch of new products with optimum nutritional content, increasing trend of formula feeding, changing lifestyle, and high number of births will act as major driving factors in the growth of global breast milk substitutes market.
Heavy investment in research and development of infant food products and growing per capita healthcare spending will act as an opportunity for the market players in the breast milk substitutes market.
Restrains:
Nonetheless, stern guidelines and regulations related to breast milk substitutes marketing will restrict the growth of global breast milk substitutes market.
Regional analysis:
Asia Pacific will be the leading region during the forecast period. China accounted for the highest share in the Asia Pacific region due to lack of strict regulations related to breast milk substitutes, low breastfeeding rates, and efforts taken by government to lessen child mortality rate. North America is expected to be the second major market. The key reasons are introduction of new formula based products and high urbanization. The Latin America region will grow at a significant rate during the assessment period. The Middle East & Africa region is expected to exhibit definite progression in the anticipated time-frame.
Key benefits of the report:
Questions answered in the Breast milk substitute’s Market research report:
Key Market Segments
Key Market Players