As a result of parent demand for vegetarian, flexitarian and plant-based diet-compliant baby formulas, Danone S A launched the brand new Dairy & Plants Blend.
In order to develop innovative products and technologies for South East Asia, Nestlé SA expanded its R&D facilities in Singapore
Author Credits: Anil Kumar, Ipsheeta Dash
Report ID: 327
Published Date: Feb 13, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Growing disposable income, high women employment rate in developed countries and decreasing breastfeeding rates are the major factors driving the growth of the baby specialty milk formula market.
The market is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2023-2033.
Government initiative to spread awareness about breastfeeding and high production cost are the challenges affecting the market growth.
The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
The major players in the market are Danone S.A., Perrigo Nutritionals, Nestle SA, Piermen B.V., Bebelan Lacta Ltd., Mead Johnson & Company, LLC., Savencia Fromage & Dairy, Abbott Laboratories, Else Nutrition, Arla and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by age group, distribution channel and, by region.
The new born segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.