Global Baby Specialty Milk Formula Market Overview
Specialty milk formula refers to a type of infant milk formula which caters to the need of feeding babies who is suffering from health related issues. Infant formula is meant to be feed to babies when mother is not available for breastfeeding. These infant milk formulas are gaining traction among users owing to their nutritious benefits and easily availability. The baby milk formula offers various advantages over the whole milk. The baby specialty milk formula consists of high concentration of whey protein, high amount of iron, Vitamin E & C, essential minerals and fatty acids. These nutrients are important for overall development of the infant.
Market Size and Forecast
The global baby specialty milk formula market was valued at USD 1.6 Billion in 2016 and is expected to register a CAGR of 8.2% over the forecast period. Further, the market is estimated to garner about USD 3.4 Billion by the end of 2024. This significant growth can be attributed to various factors such as rising disposable income, increasing health concerns among parents and escalating woman workforce all across the globe.
In the regional platform, North America is the largest market in the term of market revenue share in overall baby specialty milk formula. The market of baby specialty milk formula is majorly driven on the back of the increasing infant healthcare concerns and rising disposable income in the region. Further, increase in the number of working mothers is likely to spur the demand for baby specialty milk formula market in the North-America region over the forecast period i.e. 2017-2024.
Asia-Pacific market of baby specialty milk formula market is estimated to be the fastest growing market across the globe. Growing birth rate in developing nations is expected to foster the demand for baby specialty milk formula market over the forecast period. China and India accounts for the highest percentage of market share in baby specialty milk formula in the Asia-Pacific region. In the Europe region, Western Europe is likely to dominate the specialty milk formula market and is projected to witness a robust growth over the forecast period.
Our in-depth analysis segmented the global baby specialty milk formula market in the following segments:
By Age Group
By Distribution Channel
Global mobile analytics market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Increasing health consciousness for infants and rising number of woman workforce are some of the key growth drivers which are substantially raising the demand for baby specialty milk formula all across the globe. Apart from this, increasing awareness about the specialty milk formula and its benefits in the developing region is expected to drive the market of baby specialty milk formula.
Increasing popularity of baby specialty milk formula due to the rising infant health concerns is envisioned to bolster the growth of specialty milk formula market over the forecast period. Rising participation of women in work is anticipated to be a key growth driver for the growth of global baby specialty milk formula market over the forecast period.
Heavy adoption of online store purchasing has been witnessed in recent years. Further, preference for purchasing baby foods through e-commerce channels is likely to boost the growth of baby specialty milk formula market all over the globe.
However, government initiative to spread awareness about breastfeeding is expected to restrain the growth of global baby specialty milk formula market. Moreover, declining birth rate in undeveloped countries and high cost of production is anticipated to further restrain the market in future.
Scope and Context
Overview of the Parent Market
The global baby specialty milk formula market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
Direct access to analyst to help you understand the market in a better way to handle your critical question
Citing your business specific requirement our consultant would assist you ensuring targeted goal is achieved
Get 10% free customization
Great focus on accuracy and quality of the research
(U.S.) - +1 646 586 9123
(Canada) - +1 437 889 3230
(U.K.) - +44 203 608 5919
(India) - + 91 120 660 5495