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Asia-Pacific Baby Infant Formula Market Is Prospering At $26.8 billion and Expected To Reach At a CAGR Of 9.8% by 2026

11-30-2023 06:35 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Asia-Pacific Baby Infant Formula Market

Asia-Pacific Baby Infant Formula Market

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.

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In addition, stakeholders are coming up with goat milk infant formula, owing to its high nutritional content and potential medicinal property. It has been recognized that the goat milk is preferable for the infant suffering from cow milk allergy and discomfort. Moreover, goat milk is considered similar to mother's milk, as it has high amount of oligosaccharide, which helps in boosting the immune system of infants. In addition, goat milk contains A2 casein, which does not cause inflammation, hence is easily digestible for infants. Therefore, stakeholders are preferring goat milk for producing baby infant formula, which is augmenting the Asia-Pacific baby infant formula market growth.

Leading Key Players

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).

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Innovative packaging to influence buying behavior, rise in disposable income, and increase in awareness toward adequate nutrition have propelled the growth of the Asia-Pacific baby infant formula market. In addition, busy consumer lifestyle has fueled the growth of the market. However, surge in breastfeeding due to government initiatives impedes the growth of the market to certain extent. Moreover, the surge in preference for organic infant formula food, rise in use of goat milk in baby infant formula, and addition of prebiotic and probiotics in infant food are expected to offer numerous opportunities in the near future.

Moreover, consumer prefer to purchase infant formula from stores such as supermarkets and retail stores; however, this scenario is changing and customers are changing their perforce toward online channels. Online sales have evolved as a key source of revenue for many companies. The online sales market is expected to expand at a higher rate in the near future, owing to rapid penetration of smartphones, increase in m-commerce sales, and ease in payment options. However, the collaborative initiatives of various organizations, such as World Health Organization (WHO) and United Nations International Children's Emergency Fund (UNICEF), have increased the overall awareness about breastfeeding among women. This in turn limits the overall revenue generation for the Asia-Pacific baby infant formula market.

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Based on ingredient, the market is classified into carbohydrate, fat, protein, minerals, vitamins and others. The carbohydrate segment contributed for the major market share in 2017, accounting for nearly three-fifths of the market. On the other hand, the vitamins segment is estimated to grow at the highest CAGR of 11.2% in between 2019 to 2026.

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.

Check out more related studies published by AMR Research:

Infant Nutrition Market - https://www.prnewswire.com/news-releases/infant-nutrition-market-to-reach-61-6-bn-globally-by-2026-at-7-7-cagr-allied-market-research-301107444.html

Baby Drinks Market - https://www.globenewswire.com/en/news-release/2022/03/14/2402706/0/en/Global-Baby-Drinks-Market-to-Generate-67-10-Billion-by-2031-Allied-Market-Research.html

U.S. Baby Infant Formula Market - https://www.prnewswire.com/news-releases/us-baby-infant-formula-market-to-reach-5-81-bn-globally-by-2027-at-5-8-cagr-allied-market-research-301273688.html

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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