According to the current analysis of Reports and Data, the global Infant Formula Market was valued at USD 17.57 Billion in 2020 and is expected to reach USD 29.94 Billion by the year 2028, at a CAGR of 6.8%. Infant formula sales have been developing thanks apace to the rise in the birth rate and increase and high per capita financial gain. Globally, the expansion in the baby formula market is driven by a growing socio-economic class population. The Asia Pacific is foreseen to advance at the best rate, particularly driven by the large population base and rapid commercial development. Growing-up milk, a kind of baby formulas, is meant to satisfy toddlers’ growing desires and might be consumed as a part of a diet. It may be used as a biological process drink or together with different foods.
The Global Infant Formula Market report presents a comprehensive analysis of the Infant Formula market by offering valuable insights to assist the businesses and key players in formulating fruitful strategies during the forecast timeline of 2020-2028. The report studies the historical data to provide an assessment of key segments and sub-segments, revenue, industrial chain analysis, and demand and supply data. The report also sheds light on the technological breakthroughs and product advancements happening in the Infant Formula market. According to the report, the Infant Formula industry is likely to witness significant growth over the projected timeline.
The report also covers the impact of the COVID-19 pandemic on the Infant Formula market and major segments. The pandemic has affected every industry vertical either positively or negatively. The report discusses in detail the changes in the demands and trends and the major challenges of the market created due to the pandemic. The report also offers a thorough current and future analysis of the impact of the COVID-19 pandemic on the overall growth of the market.
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Further key findings from the report suggest:
- Infant formula is not officially a pharmaceutical product, though in many cases the manufacturers are pharmaceutical companies. If infant formula were to be categorized as a pharmaceutical, under U.S. law it would have to be assessed for both its safety and its effectiveness
- Infant formula composition and labelling are regulated in both the UK (via EU directives) and the US, but there are some specific differences in ingredients permissible and in the labelling of these products
- Infant formula in the US does not have to be fortified with iron to an amount considered optimal in the EU and the UK, but the maximum amount permitted is much higher than allowed in the EU
- The EU Commission Directive 2006/141/EC disallows health claims on infant formula (with the exception of a specific controlled claim related to protein allergencity)
- When placing a new infant formula on the market, manufacturers must notify the competent national authority in the case of EU regulations or notify the FDA in the case of US regulations
- The Specialty Formula application sub-segment is expected to register a CAGR of 7.1% during 2020-2028
Top Players Analyzed in the Report are:
- Arla Foods Amba
- Vitablend Nederland B.V.
- Carbery Food Ingredients Limited
- Fonterra Co-Operative Group Limited
- Aarhuskarlshamn AB
- Royal Frieslandcampina N.V.
- Sachsenmilch Leppersdorf GmbH
- BASF SE
- Koninklijke DSM N.V.
- Hansen Holding A/S
For a comprehensive value chain analysis, the report covers the downstream and upstream essentials of the Infant Formula market. It also pays special focus on the growth process, macro- and micro-economic factors, raw material sources analysis, and other technical data. The report further segments the market on the basis of types, applications, and regions and offers insights into the segments that have the highest penetration and profit margin, along with recent developments based on geographies.
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Based on Type, the market has been segmented as follows:
- Fats & Oils
- Others (Probiotics, Nucleotides, and Emulsifiers)
Based on the Source, the market has been segmented as follows:
- Cow Milk
- Protein hydrolysates
- Others (Goat milk and camel milk)
Based on Application, the market for infant formula ingredients has been segmented as follows:
- Growing-Up Milk (Infants over 12 months)
- Standard Infant Formula (0–6-month-old infants)
- Follow-On Formula (6–12 month-old infants)
- Specialty Formula
Based on the Form, the market for infant formula ingredients has been segmented as follows:
- Liquid & semi-liquid
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Benefits of Global Infant Formula Market Report:
- Comprehensive analysis of the changing market dynamics
- A futuristic outlook on different factors influencing the market
- An 8-year forecast of the market growth and expected revenue growth
- Ease of understanding of the market, key segments, and their future growth
- In-depth analysis of the competitive landscape to give an advantageous edge for the companies
- Extensive insight into the market with in-depth analysis of the segmentation
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