Infant Formula Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Consumer Goods and Food and Beverages | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC417

Introduction

Infant formula refers to a food product usually designed to meet the nutritional needs of infants of age group between 0 to 12 months. Infant formula is generally used as an alternative to mother’s breast milk and contains essential ingredients which are present in breast milk. Infant formula is globally available in powders, ready-to-use and liquid forms. Several types of infant formulas such as prebiotic infant formula, organic infant formula, soy-based formula, lactose-free formula and non-genetically modified organisms’ infant formula are widely available in the market. Infant formula products are suitable for children under one year of age. These products vary in nutrients, taste, price, ability and quality from region to region.

Market Dynamics

Rise in birth rate, increase in number of working mothers and innovations in technology especially in packaging are some of the crucial factors accelerating the growth of the global infant formula market. Choosing the correct and the most suitable infant formula product is one of the important decisions undertaken by working parents across the globe. Increase in women participation in employment has in turn led to an increasing demand for infant formula in both developing and developed economies. Also, increase in demand for organic and natural infant formula products implies the rapidly changing perception of consumers towards infant formula products. The most widely used infant formula product is infant milk formula which is made of cow’s milk mixed with minerals, vitamins, vegetable oils and carbohydrates. Modified infant formula contains the important and necessary vitamins and nutrients including iron which helps in prevention of anemia among infants and aids the babies to grow properly.

One of the key factors driving the global infant formula market is the rapidly increasing health concerns among working parents. Most parents are inclined towards optimal dietary and health nutrition products to ensure their babies’ efficient development and growth. Also, parents are widely choosing packaged foods for their babies and packaged infant formulas as an alternative to breast feeding. Working parents are willingly ready to spend on expensive and high-quality baby food products to ensure their well-being. This growth in nutritional concerns has accelerated the infant formula providers and vendors to come up with various natural and organic products which are relatively safer and more nutritional as compared to other conventional foods.

Market Classification

The global infant formula market can be segmented on the basis of product type, food type, distribution channel and geography. By product type, the global infant formula market can be segmented into follow on milk formula, starting milk formula, special milk formula and toddler’s milk formula. On the basis of food type, the global infant formula market can be segmented into prepared baby food, dried baby food, and milk formula. On the basis of distribution channel, the global infant formula market can be segmented into supermarkets, specialty outlets, pharmacist/chemist/ drugstore/, online stores and others. On the basis of geography, the global infant formula market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific.

Report Coverage

Market

Global Infant Formula Market

Analysis Period

2014 – 2024

Historic Data

2014 – 2015

Base Year

2016

Forecast Data

2017 – 2024

Market Stratification

Product Type, Food Type, Distribution Channel, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

 

Market Participants

Key players operating in the global infant formula market focus on key market strategies such as collaborations with other established market players to improve the overall global operations, expansion of their product portfolio and to strengthen the market presence. They are also concentrating on increasing the number of product launches to sustain in the ever competitive market. Some of the key players involved in the global infant formula market include Amara Baby Food, Arla Foods, Ella's Kitchen Group, Baby Gourmet, Green Monkey, Friso, Hero Group, Healthy Sprouts Foods, Meiji, Morinaga, One Earth Farms, Nurture (Happy Family), Plum Organics, Parent's Choice, Stonyfield Farm and Sprout Foods among others.

Market Segmentation

Market by Product Type

·         Follow on milk formula

·         Starting milk formula

·         Special milk formula

·         Toddler’s milk formula

Market by Food Type

·         Prepared baby food

·         Dried baby food

·         Milk formula

Market by Distribution Channel

·         Supermarkets

·         Specialty outlets

·         Pharmacist/chemist/ drugstore

·         Online stores

·         Others

Market by Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Philippines

o   Rest of Asia-Pacific

·         Latin America

o    Brazil

o   Chile

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


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