Asia-Pacific Baby Infant Formula Market Report, Competitive Analysis, Proposal Strategy and Key Requirements
The Asia-Pacific baby infant formula market size was valued at $11.4 billion in 2017, and is projected to reach $26.8 billion by 2026, registering a CAGR of 9.8% from 2019 to 2026. According to the Federal Food, Drug, and Cosmetic Act, baby infant formula refers to food that purports to be or is represented for special dietary use solely as a food for infants by reason of its simulation of human milk or its suitability as a complete or partial substitute for human milk.
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The significant factor that influences a child development and growth is nutrition. Infant formula is produced for feeding babies and infants, which are under 12 months of age. Infant formula facilitates healthy growth & development of babies, improves cognitive performance and development, prevents them from allergies, and increases gastrointestinal health & immunity.
The growth of infant formula is highly dependent on the awareness among the consumers to provide complete nutrition to their child. Demand for infant formula is higher in the emerging countries, as they are equally growing in terms of money and population. Countries such as China and India occupy larger market share, as companies need to address rapidly changing consumer needs to cater to their emerging demand. Moreover, upsurge in online sale of infant formula products would is expected to increase the overall revenue for the industry.
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The Asia-Pacific baby infant formula market is segmented into type, ingredient, distribution channel, and country. By type, the market is categorized into infant milk, follow-on-milk, specialty baby milk, and growing-up milk. Depending on ingredient, it is classified into carbohydrate, fat, protein, minerals, vitamins and others. As per distribution channel, it is segregated into hypermarket, supermarket, pharmacy/medical stores, specialty stores, hard discounter store, e-commerce, and others.
Country wise, the market is analyzed across China, India, South Korea, Japan, Philippines, Indonesia, Australia, New Zealand, and rest of Asia-Pacific.
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The key players operating in the Asia-Pacific baby infant formula industry include Abbott, Arla Foods Amba, Campbell Soups, Dana Dairy Group Ltd., Danone, Nestle S.A., Reckitt Benckiser (Mead Johnson & Company LLC), Perrigo Company Plc, Heinz Baby, and Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF).
Key Findings of the Study:
On the basis of type, the infant milk segment dominated the Asia-Pacific baby infant formula market in 2017, and is expected to retain its dominance throughout the forecast period.
Depending on ingredient, the carbohydrate segment accounted for highest share in the Asia-Pacific baby infant formula market analysis in 2018, and is projected to grow at a CAGR of 9.8% from 2019 to 2026.
By distribution channel, the hypermarket segment was the major shareholder during the Asia-Pacific baby infant formula forecast period, and is projected to register a CAGR of 9.5% from 2019 to 2026.
Country wise, China exhibited the highest growth in the Asia-Pacific baby infant formula market share in 2017, and is expected to continue this trend during the forecast period.
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