Infant formula ingredients are referred to the ingredients that are used to manufacture foods for infants beginning from birth to 12 months of age. Infant foods are widely accepted as a nutritious and healthy baby food alternative. Most of the infant food products available to the consumers are focused on cow's milk. Typically, infant formulations contain functional components, long-chain polyunsaturated fatty acids, prebiotics, nucleotides, and probiotics as the key ingredients. Producers in the market for infant formula ingredients are changing the lactose content, probiotics amount, rice starch, and hydrolyzed proteins to diversify their product description. The infant formula consists of pure cow's milk as a source of protein, blend of vegetable oils as a fat source, vitamin-mineral mixture, lactose as a source of carbohydrate, and other ingredients depending on the manufacturing processes.
The infant formula ingredients market is thriving on the back of the growing demand for packaged infant food products backed by the increasing middle-class population and the upsurge in the number of working women which is further raising the prevalence of natural feeding for infants. In the last few years, the incidence of malnutrition or nutritionally deficient babies has increased. Infant formula ingredients have captured the attention of various people across the globe. Additionally, a substantial population base, rapid urban growth, and high birth rate would fuel business growth. The global infant formula ingredient market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. The market is segmented by ingredient type into carbohydrates, oils & fats, proteins, vitamins & minerals, prebiotics, and others. In this segment protein and carbohydrates segment are expected to have the largest market share. The growth of the segments can be attributed to the fact that these are the basic macronutrients required to meet the infants' basic metabolic and intestinal needs. However, based on the form, the infant formula ingredient market has been divided into liquid, powder, and semi-liquid. The powder segment is attributed to have the largest market share owing to the fact that infant formula components are usually found in powdered form, and is easy to process as compared to ingredients in liquid infant formula. Most forms of infant formula ingredients, such as carbohydrates, proteins, certain fats, and prebiotics are widely used by infant formula manufacturers, to produce in powdered form. CLICK TO DOWNLOAD SAMPLE REPORT
There is a significant increase in the number of women joining the workforce after becoming mother owing to the increased preference towards supporting their family and keeping their household economy on track. According to the U.S. Bureau of Labor Statistics, in the United States, 61.9% of all mothers with children under the age of three were in the labor force in 2018. Such a factor has put a strain on mothers, to ensure the care of their infants and the acceptance of the infant formula ingredients by mothers has increased, which has further raised the necessity to provide essential nutrition and supplements for their babies. Moreover, as the population is growing there is a shift in paradigm for the infant foods so as to provide them with basic macro and micronutrients which is anticipated to drive the growth of the infant formula ingredients market.
Increasing awareness of factors that affect the health of infants and the importance of micronutrients in fostering and development of infants is triggering market players to launch products with various nutrients. Parents are becoming more skeptical of their buying decisions about baby formula, with growing inquisitive about the use of specific ingredients in such products. Moreover, the convenience it provides over the traditional feeding method is some of the factors that are anticipated to drive the growth of the infant formula ingredients market.
Despite the growing market for the infant formula ingredients, the presence of diverse leading players makes the market more competitive. Moreover, the ingredients market for infant formula is dominated by local players taking on new platforms and using multi-channel approaches. Additionally, these outlets also focus on offering convenient payment solutions by integrating various technology to provide their customers with convenience and improve their sales. These are some of the factors anticipated to hamper the growth of the infant formula ingredients market.
Our in-depth analysis of the infant formula ingredients market includes the following segments:
Based on regional analysis, the global infant formula ingredients market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The market in Asia Pacific, followed by Europe, holds a significant share of the world infant formula ingredients market, owing to the rising urbanization and increasing demand for easy food that is expected to fuel the market for various formulas in the Asia Pacific region. The Asia Pacific is dominated by the Chinese industry, being one of the region's biggest buyers of infant formula ingredients. In addition, manufacturers are shifting their manufacturing base from developed nations to countries in the Asia Pacific region, especially in Japan and Australia, due to low manufacturing costs coupled with abundant raw material availability is predicted to spice up the business in the Asia Pacific region.
The global infant formula ingredients market is further classified based on region as follows:
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