Infants aged 0-12 months need breast milk or a formula which can provide them all nutritional values present in breast milk. Infant formula is one such medium to meet all alimentary needs of infants and is highly preferred by medical professionals now-a-days.
Global infant formula market is envisioned to expand at a robust compound annual growth rate (CAGR) of 10.3% over the period of 2016-2021. Regionally, the global infant formula market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and North Africa (MENA) and Rest of World (Row).
Market Size and Forecast
Asia-Pacific region is anticipated to hold the highest demand of infant formula market over the forecast period of 2015-2021. The market in the region is likely to spark from rapidly surging infant population and increasing per capita income in countries such as India and China.
After Asia-Pacific, North America is expected to hold a significant growth in infant formula market from 2015-2021. The market in the region is likely to get bolstered from increasing birth rate (which increased by 1.1% during 2013-2014 for women aged 15-44 years)
Marking its presence in the global infant food market, Europe infant formula market is likely to augment at a rapid pace driven by rising technological innovations related to infant formula in the region.
By Distribution Channel
By Product Type
The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Growth Drivers and challenges
Rising infant health awareness coupled with increasing disposable income is likely to spark the growth of global infant formula market over the forecast period i.e. 2015-2021.
In addition to that, surge in total number of working mothers, expansion of birth rate and technological innovations are also expected to bolster the global infant formula market in future.
However, high cost of infant formula products and lack of awareness about right food products for infants is anticipated to restrain development of the global infant formula market in future.
Global infant formula market includes some of the top players such as Nestle, Pfizer Inc., Mead Johnson Nutrition, Groupe Danone, Abbott Laboratories, Hain Celestial Group, Inc. ( Earth’s Best), Nature’s One, Inc., Vermont Organics Infant Formula, Friso and The Hero Group
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