Press release
Infant Formula Ingredients Market is projected to reach USD 44.0 billion in 2029, registering 8.1% CAGR during 2022-2029 | Size, Share, Analysis & Forecast
Infant Formula Ingredients Market
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/infant-formula-ingredients-market/
The factors driving the growth of Infant Formula Ingredients Market includes rising focus on providing adequate nutritional benefits to infants, growing prevalence of chronic diseases, increasing preference for plant-based infant formula solutions around the world and improvements in the living standards. According to the report published by World Health Organization (WHO), approximately 5.2 million children aged below 5 years died in 2019, from curable and treatable causes and 1.5 million Children aged between 1 to 11 months died during the same years, which is pushing the demand for infant formula solutions worldwide. Moreover, increase in the working women population across the globe, infant formula ingredients promote healthy bone growth and enhances digestive health of infants, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Infant Formula Ingredients Market Growth. In addition, the increasing investments by major players on research and development, growing adoption of advanced technologies by manufacturers, rising disposable incomes and growing population growth rates, are further propelling the Infant Formula Ingredients Market size.
However, growth of the Infant Formula Ingredients Market is hindered due to high cost of infant formula products.
The major players operating in the market are Arla Foods amba, Carbery Food Ingredients Limited, Chr. Hansen Holdings A/S, AAK AB, Fonterra Co-operative Group Limited, Royal Friesland Campina N.V., Sachsenmilch Leppersdorf GmbH, Kerry Group plc, Lactalis Ingredients, BASF SE, Koninklijke DSM N.V., and Glanbia plc, among others.
Based on Ingredient, the Fats & Oils segment is predicted to expand at a significant CAGR during the forecast period
Fats and oils are important ingredients for meeting metabolic and physiological functions for the development and growth, of the infants, which is pushing growth of the segment.
Based on Form, the Dry segment is projected to capture the largest market share over the forecast period
Dry infant formula ingredients provide adequate carbohydrates, fats, and proteins and are easy to handle, are some of the features propelling segment's growth.
Based on Region, the Asia-Pacific region is anticipated to grow at a remarkable CAGR during the forecast period
Rising awareness about the benefits of infant formula ingredients, increasing focus on providing adequate nutritional values to infants, growing demand for infant formula solutions across India, South Korea and China and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Developments
In 2019, AAK AB planned to increase its share in partnership with Kamani Oil industries to 64%; thereby strengthen its position in the Indian market.
In 2019, FrieslandCampina Ingredients planned to enter in a strategic partnership with four individual operating companies-DOMO, Kievit, DMV, and Nutrifeed, making this a big step in helping the organization to secure its unique position in value-added, healthy, and functional ingredients and solutions for infant formula development.
In 2018, Fonterra Co-operative Group Limited partnered with Hema Fresh, which is Alibaba's new retail space. The partnership will assist the company in fortifying its presence in the retail market for infant formula ingredients.
Market Segmentation
Segmentation by Ingredient
Carbohydrates
Fats & Oils
Proteins
Whey Proteins
Casein Proteins
Plant Proteins
Vitamins
Minerals
Others
Segmentation by Source
Cow Milk
Soy
Protein Hydrolysates
Others
Segmentation by Form
Dry
Liquid
Segmentation by Application
Growing-Up Milk Formula (Infants over 12 months)
Standard Infant Formula (0-6-month-old infants)
Follow-On Formula (6-12-month-old infants)
Specialty Formula
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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