Research Nester published a report titled “Infant Formula Milk Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global infant formula milk market in terms of market segmentation by form, ingredients, type, distribution channel, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global infant formula milk market is estimated to grow at a considerable CAGR during the forecast period, i.e., 2021-2029. The market is segmented by form into powdered, concentrated and ready-to-feed segments, out of which, the powdered segment is anticipated to hold the maximum market share throughout the forecast period. This can be attributed to the easy availability, low costs and convenience of usage of the powdered formula milk. On the basis of end-user, the 00 to 06 month old segment is estimated to gain the largest share over the forecast period, owing to the growing need for nutritious food for newborn babies along with the rising occurrence of certain diseases which prohibit mothers to feed the child.
The global infant milk market is estimated to grow on the back of rising number of working mothers, who need an alternative for the breast milk to feed the infant in their absence. Moreover, the increasing R&D activities by the manufacturers of formula milk in order to provide best quality milk for the infants and stringent government regulations regarding the standard of the formula are some of the major factors estimated to boost the market growth. Rising prevalence of medical conditions, such as, tuberculosis, HIV, leukemia, which prevent the mother from feeding the baby, is another factor estimated to promote the market growth.
Geographically, the global infant formula milk market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these, the market in the North America region is projected to garner the highest share throughout the forecast period, owing to the increasing population of working mothers along with rising disposable income.
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According to the data by the World Bank, the total share of working women increased from 66. 708% in 2015 to 68.677% in 2019. The market in the Asia Pacific region is estimated to grow at the highest CAGR during the forecast period, owing to the increasing infant population in highly populated economies, such as, China and India. Furthermore, the changing family structure, busy lifestyle and rising employment of women are anticipated to boost the market growth in the region.
Growing Cases of Diseases Which Prohibit Mothers from Breastfeeding Likely to Promote the Market Growth
Various diseases including HIV, tuberculosis and leukemia among other, can spread from the mother to the baby through the breast milk. Apart from these, viral infections including COVID-19 can spread during breastfeeding due to close contact between the infant and the mother. To avoid such transmission, unwell mothers are advised to use formula milk to feed the child, until their conditions improve. This is expected to significantly promote the growth of the global infant formula milk market.
However, high cost of the product is anticipated to hamper the market growth during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global infant formula milk marketwhich includes company profiling of Nestle S.A. (SWX: NESN), Pfizer Inc. (NYSE: PFE), Mead Johnson & Company LLC, Danone S.A. (EPA: BN), Abbott Laboratories (NYSE: ABT), Earth’s Best (The Hain Celestial Group, Inc.) (NASDAQ: HAIN), Nature’s One LLC, The LittleOak Company Pty Limited, Royal FrieslandCampina N.V. and Hero Company.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global infant formula milk market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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