On the back of increasing Working Women Population
Global infant nutrition market has been witnessing fast growth on the back of increasing number of working women along with rising parental concerns for nutrition. The data from ILOSTAT reports a rapid increase in the number of working women across the world with Canada numbering at 8113 thousand working women in 2010 reaching to 8899 thousand working women by 2018. The increase in numbers has been observed in areas such as, Taiwan in China from 4613 thousand in 2010 to 5089 thousand in 2018, South Korea from 9914 thousand in 2010 to 11309 thousand in 2017, Italy from 9152 thousand in 2010 to 9674 thousand in 2017 which is further expected to rise further during the forecast period. This rapid increase in working women population is estimated to drive the market considerably during the forecast period.
Changing Socio-Demographic Factors
On the back of rising demand owing to significant expansion of the consumer base for baby food across the developing economies around the globe, the market for infant nutrition is expected to increase during the forecast period. Moreover, innovative use of ingredients, such as prebiotics and specific milk protein fractions owing to increasing research and development activities is attributed to drive the market substantially across the globe. Rising disposable incomes are especially intensifying the growth of such products market around the developing regions. Additionally, the demand for premium value, organic and fortified/functional product varieties is increasing across the economically developing regions, estimated to enhance the market growth.
Furthermore, high infant population prevalence across the developing regions of the world has huge opportunities for market expansion estimated to aid the market growth strongly during the forecast period. Improved living standards amongst the growing middle class and increased health awareness with rising demand for imported products are anticipated to stimulate the infant nutrition market around the world.
Declining Birth Rates along with associated Food Security
However, due to increasing focus on career among women, rising government initiatives across developing nations for birth control, the birth rates around the globe are rapidly declining which is expected to induce a sluggish growth in the infant nutrition products market 0ver the forecast period. Association of autoimmune diseases with extensive use of such products, risks of allergies, and majorly, risk of microbial contamination of packaged baby foods and formulas are estimated to serve as key restraining factors to the growth of the infant nutrition products market over the forecast period. Further, the increasing initiatives by governmental organizations across various countries such as, Iran, Australia, Italy and others for breast feeding are also expected to affect the market shares.
Infant nutrition market is anticipated to record a CAGR of 7.2% over the forecast period i.e. 2019-2027. Various factors ranging from increasing urbanization, improving economic conditions and rising disposable income are contributing significantly to the growth of the market across the globe. Increasing awareness on adequate nutrition, heavy investments in the emerging economies, declining poverty rates along with innovations in baby food products are further estimated in accentuating the market growth over the forecast period. Further, the increasing recommendations by physicians to use such products is estimated to boost the market shares strongly across the globe.On the basis of regional platform, the global infant nutrition market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is estimated to induce a budding growth on the back of lower birth rates with higher spending power per baby, thus raising demand for more premium quality infant nutrition products across the region. Europe is anticipated to display a vibrant growth on account of increasing demand for organic food as well as growing working women population across the region.
Asia Pacific is expected to showcase the highest growth in overall infant nutrition market due to greater volume opportunities across the region on the back of higher growth rates. Additionally, escalating use of packaged baby foods and formulas becoming a status symbol in some developing nations along with positive result of economic factors are estimated to accentuate the market revenue during the forecast period.
Our-in depth analysis of the global infant nutrition market includes the following segments:
By Nutrition Type
By Sales Channel
Global infant nutrition market is further classified on the basis of region as follows:
Get more information on this report: Download Sample PDF
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.