The global baby infant formula market is expected to garner $39,541 million by 2023, from a value of $19,892 million in 2016, registering a CAGR of 10.4% from 2017 to 2023. Infant formula is an acceptable alternative substitute for infant consumption, which attempts to mimic the nutritional composition of breast milk as closely as possible. Although physicians recommend breastmilk for optimal infant nutrition, it may not always be possible, suitable, or solely adequate. Enspire infant formula and toddler milk, and Similac infant formula and toddler milk are among various infant formulas available for healthy, full-term infants who are not breastfed or partially breastfed.
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Increase in participation of women in labor force has led to rise in number of women working outside their houses, which is the major driver for growth of baby infant formula market. Infant formula presents an appealing alternative to working mothers for their babies as per the need and convenience.
Rapid urbanization and growth of the middle-class population have led to changes in the lifestyle of individuals. The middle-class population is more affluent and can afford to spend more on their children, thus driving the market growth.
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Consumer perception of high nutritional content in the infant formula also supplements this growth. At present, consumers’ health consciousness is increasing, and they are on a lookout for infant formula having high content of protein, minerals, and vitamins.
Moreover, growth in preference for organic infant formulas may present new avenues for the manufacturers. However, concerns related to food safety and decline in global birth rate may hamper the market growth.
The global baby infant formula market is segmented based on type, ingredient, distribution channel, and geography. Based on type, it is classified into infant milk, follow-on-milk, specialty baby milk, and growing-up milk.
By, ingredient, it is divided into carbohydrate, fat, protein, minerals, vitamins, and others. Based on distribution channel, the market is categorized into hypermarkets, supermarkets, pharmacy/medical stores, specialty stores, hard discounter stores, and others.
Geographically, it is analyzed based on region into North America, Europe, Asia-Pacific, and LAMEA.
The major players profiled in this study include the following:
- Abbott Laboratories
- Arla Foods
- Beingmate Group Co. Ltd.
- Campbell Soup Company
- D. SIGNSTORE
- Heinz and Hain Celestial Group
- HiPP GmbH & Co
- Mead Johnson Nutrition Company, LLC
- Nestle S.A.
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KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global baby infant formula market to elucidate the prevailing opportunities and potential investment pockets.
- It offers qualitative trends as well as quantitative analysis from 2016 to 2023 to assist stakeholders to understand the market scenario.
- In-depth analysis of the key segments demonstrates the types of baby infant formula.
- Competitive intelligence of the industry highlights the business practices followed by key players across geographies and the prevailing market opportunities.
- The key players are profiled along with their strategies and developments to understand the competitive outlook of the industry.
KEY MARKET SEGMENTS
- Infant Milk
- Specialty Baby Milk
- Growing-up Milk
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By Distribution Channel
- Pharmacy/Medical Store
- Specialty Stores
- Hard Discounter Store
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA
- Dana Dairy Group Ltd.
- Dano Food
- Freed Foods, Inc.
- Friesland Campina
- Holle baby food GmbH
- NANNYcare Ltd.
- Nature's One, Inc.
- Organix Brands Limited
- Progress OAO
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