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What's Driving the Infant Formula Market Trend? Abbott Laboratories, Nestlé S.A., Kraft Heinz Food Company, Groupe Danone, Mead Johnson Nutrition Company, Beingmate Baby & Child Food Co., Ltd., Plum Organics, and Meiji Holdings Co., Ltd. among others
infant formula
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Asia Pacific held significant market share in the global infant formula market in 2017, owing to rising birth rates in the region. According to the worldstat.org, the birth rate in Asia was 17.56 per population in 2011. The birth rate of boys was more than the birth rate of girls in this region. The population of Asia increased from 4.16 billion in 2010 to 4.43 billion in 2016, which is an increase of around 266 million.
The global infant formula market was valued at US$ 56.0 billion in 2017, and is expected to register a CAGR of 6.1% in terms of revenue, during the forecast period (2018 – 2026), to reach US$ 95.0 billion by 2026.
Furthermore, various key players are focused towards increasing its product portfolio and are undergoing mergers and acquisitions to increase its market share. For instance, in September 2017, Danone Manifesto Ventures — a financial arm of Groupe Danone — announced investment in Yooji, the French start-up, aiming to revolutionize baby food, by providing frozen portion size organic products to support companies at the forefront. In June 2017, Mead Johnson Nutrition, an infant formula company, announced its plan to merge with Reckitt Benckiser Group plc, which is a British multinational consumer goods company headquartered in Slough, England.
Major players operating in the global infant formula market include Abbott Laboratories, Nestlé S.A., Kraft Heinz Food Company, Groupe Danone, Mead Johnson Nutrition Company, Beingmate Baby & Child Food Co., Ltd., Plum Organics, and Meiji Holdings Co., Ltd. among others
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