PORTLAND, Oregon, December 3, 2018
PORTLAND, Oregon, December 3, 2018 /PRNewswire/ --
Rise in the number of woman participation in labor force, increase in inclination toward organic baby food, and benefits of baby infant formula due to its high nutritional content are expected to propel the growth of the global baby infant formula market
Allied Market Research recently published a report, titled, "Baby Infant Formula Market by Type (Infant Milk, Follow-On-Milk, Specialty Baby Milk, and Growing-Up Milk), Ingredient (Carbohydrate, Fat, Protein, Minerals, Vitamins, and Others), and Distribution Channel (Hypermarkets, Supermarkets, Pharmacy/Medical Store, Specialty Stores, Hard Discounter Store, and Others): Global Opportunity Analysis and Industry Forecast, 2018-2025". The report provides extensive analyses of the top investment pockets, drivers & opportunities, competitive landscape, and strategic moves by key market players. According to the report, the global baby infant formula market accounted for $21.88 billion in 2017 and is expected to reach $45.35 billion by 2025, registering a CAGR of 9.5% from 2018 to 2025.
Upsurge in the number of woman participation in labor force, high nutritional content of infant formula, and rise in middle-class population in emerging economies drive the growth of the global baby infant formula market. However, concerns related to food safety and declining global birth rate hamper the market growth. On the contrary, increasing inclination toward organic baby food and drinks is expected to create lucrative opportunities for the market players in near future.
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Infant milk segment to retain lead through 2025
The infant milk segment held the largest share in 2017, contributing more than half of the market share, as breastfeeding is not always an option for most of the working mothers due to lack of time and inconvenience, and infant baby formula is an appealing alternative. However, the growing-up milk segment is projected to register the fastest CAGR of 10.4% during the forecast period, owing to rise in purchasing power and affordability. The other segments analyzed in the report include follow-on-milk and specialty baby milk.
Minerals segment to grow at the fastest CAGR by 2025
The minerals segment is estimated to manifest the fastest CAGR of 10.9% during the study period. However, the carbohydrate segment held the largest share in the market, contributing about 56% of the total market revenue, as they are the major energy source for an infant's growth and development. The other segments analyzed in the report include fat, protein, vitamins, and others.
Major distribution channels in the industry
The report analyzes various distribution channels in the market, namely hypermarkets, supermarkets, specialty stores, hard discounter store, and others. The hypermarkets segment governed the market in 2017 in terms of revenue, contributing about one-third share of the total revenue. This is attributed to the fact that hypermarkets offer innovative value-added services such as customer loyalty programmers and happy hours on shopping deals. However, the pharmacy/medical store segment is estimated to portray the fastest CAGR of 10.6% during the forecast period, owing to unawareness about ingredients in infant formula and issues related to baby food safety.
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Asia-Pacific region to dominate the market
In 2017, Asia-Pacific region held the largest share, contributing more than half of the market share, owing to rise in disposable income; increase in female participation in the labor force in China, Indonesia, Philippines and India; and high infant population in the region. However, the LAMEA region is expected to manifest the fastest CAGR of 11.4% during the study period, owing to higher health consciousness among Brazilian parents and increase in corporate advertising campaigns promoting the importance of nutrition for infants. The other regions analyzed in the report are North America and Europe.
Torchbearers in the market
The major players analyzed in the report, include Abbott Laboratories, Campbell Soups, Danone, HiPP GmbH & Co., Vertrieb KG, Nestle S.A., Arla Foods Amba, Dana Dairy Group Ltd, D-Signstore, Reckitt Benckiser (Mead Johnson & Company LLC), and The Hain Celestial Group.
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