Report Code: A10849 | Pages: 176 | May 2022 | 16720 Views | ||
Author(s) : Raju K , Roshan D | Tables: 99 | Charts: 44 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the U.s. Baby Infant Formula Market
Request Now !The U.S. baby infant formula market was valued at $3,889.0 million in 2020, and is projected to reach $6,784.7 million by 2030, registering a CAGR of 8.6% from 2021 to 2030. In 2020, the carbohydrate segment accounted for 56.4% of the market share.
Baby infant formula serves as an ideal alternative suitable for infant consumption, which mimics the nutritional composition of breast milk as closely as possible. Although physicians recommend breast milk for optimal infant nutrition, it may not always be possible, suitable, or solely adequate. Baby infant formula consists of various nutrients such as vitamins, proteins, carbohydrates, fat, linoleic acid, and prebiotics that help in the overall development of the infants. Â
Increasing participation of women in the labor force in the U.S. is a key factor driving the growth of the U.S. baby infant formula market. For instance, according to the U.S. Bureau of Statistics, the working women population has increased from 57.1% in 2018 to 57.5% in 2020. The changing lifestyle of the middle-class population due to rapid urbanization and rising disposable is boosting the U.S. baby infant formula market growth. Moreover, it is perceived that baby infant formulas are rich in nutrients and supplements the growth of the baby is another factor driving the U.S. baby infant formula market. Furthermore, increasing health consciousness among the consumers in the U.S. is boosting the demand for the baby infant formula.Â
The outbreak of the COVID-19 pandemic had positively impacted the U.S. baby infant formula market. Baby infant formula is an essential item and during the lockdowns the demand witnessed an upsurge in the U.S. owing to the panic buying for at-home consumption during the initial phase of the pandemic. The development of online platforms such as telemedicine and e-commerce greatly contributed to the revenue generation in the U.S. baby infant formula market during the lockdown period. In the present scenario, consumers have become more health conscious and prefer minimally processed food and natural drinks for their babies. Thus, baby infant formula free from ingredients such as added sugar, sodium, and preservatives is expected to present new opportunities for manufacturers in the U.S. baby infant formula market. Moreover, manufacturers are focused on organic contents by removing the genetically modified ingredients (GMOs), synthetic pesticides, and fertilizers in the feeds of cows. Thus, the milk used in the baby infant formula is certified as organic. Thus, shift in preference toward organic food & drink is anticipated to offer remunerative opportunities for the expansion of the U.S. baby infant formula market during the forecast period. Â
According to the U.S. baby infant formula market analysis, the U.S. baby infant formula market is segmented into product type, ingredient, distribution channel, and point of sale (POS). On the basis of product type, the market is categorized into infant milk, follow-on milk, specialty baby milk, and growing-up milk.Â
In 2019, the infant milk segment dominated the U.S. market due its popularity among customers as the healthy and nutritious alternative to the breast-milk and better convenience. Various infant milks are supplemented with probiotics that prevents diarrhea, ease colic, and lowers the risk of allergies in infants. However, growing-up milk segment is expected to be the fastest-growing during the forecast period. Growing-up milk products are intended for children between 1 and 3 years of age, and these products are increasingly being introduced into the diets of young children. Growing-up milk helps to compensate nutritional deficiencies, which may occur in the transition phase of infant nutrition to family food. It is very rich in vitamin and calcium required for the normal growth. Â Â
Based on ingredient, the carbohydrate segment accounts for the highest market share because carbohydrate is essential for the proper growth and development of the infants. Vitamin segment is expected to be the fastest-growing segment as vitamins are compulsory requirement for the growth, strong bones, healthy teeth, healthy red blood cells, and healthy nerve cells. Â Â
Based on the distribution channel, the hypermarkets segment dominated the market due to the facilities provided to customers such as reasonable prices, conveniences, and availability of desired brands and products. Hypermarkets are the most popular place for buying things among the U.S. population. However, Pharmacy/medical stores segment is expected to be the fastest growing segment due to the unawareness about the ingredients in infant formula and issues related to baby food safety. Hence, parents' belief on doctors and pediatricians is high and this factor drives the growth of the pharmacy/medical stores segment.
On the basis of point of sale (POS), the OTC segment holds the highest U.S. baby infant formula market share as over-the-counter (OTC) is the most popular POS because most of the babies are hypoallergenic and requires no special attention on consuming infant formula. As per the U.S. baby infant formula market forecast, the OTC segment is expected to dominate in the forthcoming years.
The players operating in the U.S. baby infant formula market have adopted various developmental strategies to expand their market share, exploit the U.S. baby infant formula market opportunity, and increase profitability in the market. The key players profiled in this report include Abbott Laboratories, Arla Foods, Bobbie, Campbell Soups Company, Dana Dairy Group, Ltd., Danone S.A., D-Signstore, Else Nutrition Holdings, Inc., Hipp GmbH & Co. Vertrieb KG, Holle Baby Food AG, Kabrita USA, Nature’s One, LLC., Nestle S.A., Reckitt Benckiser Group Plc., and The Hain Celestial Group, Inc.  Â
Key Benefits For StakeholdersÂ
U.S. Baby Infant Formula Market Report Highlights
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Based on the insights of various CXOs’ of leading companies, the market has witnessed increase in launch activities and promotion of baby infant formula in the U.S. In addition, recommendation by physicians to use infant formula for babies up to 12 months as a substitute to breastmilk has changed the perception of people, leading to its high consumption. The brand name, level of nutrition, and safety of ingredients play a vital role in influencing the purchase decisions of consumers for baby infant formula products. Americans have gradually become conscious regarding the ingredients, which go into the making of their baby infant formula products, hence, tend to prefer specific trusted brands that cater to their requirements.
In 2020, infant milk accounted for the major market share, and is expected to continue its dominance during the forecast period. CXOs are optimistic about the growth of baby infant formula market in U.S. market, owing to the introduction of organic ingredients in infant products. In addition, hectic lifestyle of people, increase in participation of women in the labor force, and convenience in feeding babies have led to higher consumption of baby infant formula.
However, CXOs further added that concerns related to food safety and decline in birth rate may hamper the market growth. Moreover, consumers tend to purchase products, which are labeled as recyclable, or easy to recycle, since they are becoming increasingly environmentally conscious. Hence, eco-friendly packaged products help to influence the decision of eco-conscious parents up to a certain extent.
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