Press release
Infant Formula Market is Expected to Soar in the Upcoming Years 2024 - 2031 | Kendamil USA, Nestle, USA, Arla Foods
Infant Formula Market
Global infant formula market is estimated to be valued at USD 81.42 Bn in 2024 and is expected to reach USD 161.51 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 10.3% from 2024 to 2031.
Market Dynamics:
The infant formula market is expected to witness significant growth over the forecast period, driven by growing awareness of the nutritional benefits of formula feeding. Formula allows parents to know exactly how much their infants are consuming and that they are receiving a balanced set of nutrients essential for growth and development. Formula is also increasingly preferred for newborns with lactose intolerance or milk protein allergies. Additionally, the rising number of working women and busy lifestyles have boosted the demand for formula. Furthermore, major players are investing heavily in R&D to develop formulas tailored for different pediatric nutritional needs, which is also fueling market expansion. Advancements include formulas fortified with prebiotics and probiotics, Omega fatty acids, and human milk oligosaccharides.
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Urbanization is Encouraging Parents to opt for Packaged Infant Food
As populations shift from rural to urban areas globally, lifestyle changes are occurring. People in cities have busier schedules with less time for activities like home cooking. Additionally, small living quarters in urban areas make storage of ingredients and preparation of meals challenging. These urban lifestyles are compelling parents to choose ready-to-eat packaged food including infant formula and baby food pouches over homemade baby food. Urban parents value the convenience, ease of use, consistency in nutrition, and hygiene offered by professionally manufactured infant products. The trend of urbanization is projected to rise substantially in developing nations, expanding the customer base for packaged infant food manufacturers.
Rising Middle Class and Disposable Incomes in Developing Regions boost Spending on Infant Nutrition
Developing economies in Asia Pacific, Latin America, Middle East, and Africa have experienced significant economic growth and rise in population income levels over the past decades. As more people join the middle-income group, their spending capacity on non-essential consumer items increases. Infant formula and other baby products were previously considered luxury items by low-income households but are now more affordable and desirable for middle class families. The ballooning middle class in emerging markets is allocating greater budgets for ensuring their children receive the best nutrition and care from an early age. This trend of rising spending power in developing regions provides ample opportunities for infant formula brands to tap into new consumers.
Rise of E-commerce is Revolutionizing Access to Infant Nutrition Products
Digitalization and online shopping trends are transforming how consumers purchase goods, including infant care items. Major markets are experiencing tremendous growth of e-commerce as people increasingly buy everyday essentials, as well as specialized products like infant formula, through websites and mobile apps for convenience. E-retail providesparents a hassle-free way to compare options, read reviews, and place orders for doorstep delivery of feeding supplies. Brands are investing in stronger online presence to tap into this emerging channel. The e-commerce revolution allows companies to offer their products to customers in smaller cities and towns easily. It also counteracts disruption risks from lockdowns as online routes sustain demand and sales. Overall, the growth of virtual shopping is revolutionizing distribution and access to various categories including infant formula globally.
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Top Companies Featured in This Report:
★ Kendamil USA
★ Nestle
★ USA
★ Arla Foods
★ Bobbie
★ Dana Dairy Group
★ Danone S.A.
★ Abbott Nutrition
★ Mead Johnson Nutrition
★ The Kraft Heinz Company
★ Meiji Holdings Co. Ltd.
★ Synutra International Inc.
★ Pfizer Inc.
★ Friesland Campina
★ Bubs Organic LLC.
★ Perrigo Company plc
★ Bellamy's Organic.
★ Glanbia plc
★ Reckitt Benckiser Group PLC.
★ PT Kalbe Farma Tbk
Market Segmentation:
By Product Type:
★ By Ingredient: Cow's milk based, Soy Based, Hypoallergenic, Others (Lactose free, Goat's milk, etc.)
★ By Form: Powder forms, Liquid concentrate forms, Ready-to-feed forms
★ By Distribution Channel: Supermarkets and Hypermarkets, Convenience stores, Online, Others (Specialty stores, etc.)
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Inquiries Addressed in this Report include:
📈 What was the size of the Infant Formula Market in 2024, and what is the projected value by 2031?
📈 What is the present global market landscape for the Infant Formula Market?
📈 What strategies offer optimal opportunities for growth maximization in the business?
📈 What recent trends are shaping the Infant Formula Market?
📈 How does the market share of Infant Formula Market revenue, sales, and size vary across specific geographical regions?
📈 Who are the prominent industry players in the Infant Formula Market?
📈 Which segment of the Infant Formula Market is experiencing heightened demand?
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Infant Formula sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
💎 Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/2330
Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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