According to a new report published by Allied Market Research, titled,"Baby Infant Formula Market by Type, Ingredient, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2018 - 2025",the 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 infant milk, follow-on-milk, specialty baby milk, and growing-up milk designed for the consumption of infants and toddlers. Infant milk contains the necessary nutrients, minerals, and vitamins for normal development of the baby. Physicians recommend infant formula as an alternative to breastmilk, as it can be fed anywhere and at any time, which makes it a convenient for working mothers. Many working mothers return to their jobs shortly after giving birth. Thus, infant formula can be fed at convenience and provides a healthy and nutritious alternative.
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.
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.
Key findings of the Baby Infant Formula Market:
- In 2018, Asia-Pacific is expected to be the highest contributor to the baby infant formula market in terms of value and volume, growing at a CAGR of 11.4% from 2018 to 2025.
- In 2018, the carbohydrate segment is expected to be the highest contributor to the baby infant formula market in terms of value, and is estimated to grow at a CAGR of 9.4% from 2018 to 2025.
- In 2018, the mineral segment is expected to growth at the highest CAGR of 10.9% from 2018 to 2025.
- In 2018, the infant milk segment is expected to account for the highest market share in baby infant formula market, and is estimated to grow at CAGRs of 9.7%.
- In 2018, hypermarket segment is expected to be a prominent market share in baby infant formula market and is anticipated to grow at the CAGRs of 8.8%.
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.