Newark, NJ, May 19, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global infant formula ingredients market is anticipated to grow from USD 16.8 billion in 2019 to USD 30 billion by 2027, at a CAGR of 7.5% during the forecast period 2020-2027. Asia-Pacific region is expected to dominate the market, and the market share is going to increase during the forecast period. The growth in the region can be attributed to rising urbanization and changing lifestyles of people leading to an increase in demand for digestive and high-protein products. The rise in the disposable incomes of people in the region is also expected to fuel market growth.
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The leading players of the market include Co-operative Group Limited, Royal Friesland Campina N.V., AAK AB, BASF SE, Carbery Food Ingredients Limited, Glanbia plc, Sachsenmilch Leppersdorf GmbH, Koninklijke DSM N.V., Chr. Hansen Holdings A/S, Lactalis Ingredients, Arla Foods, Kerry Group plc, and Vitablend Nederland B.V.
This study delivers a comprehensive analysis of ingredient types, applications, form, source, and regions. On the basis of the type of ingredients, the market is divided into oils & fats, carbohydrates, vitamins, proteins, minerals, and prebiotics. The oils and fats market is expected to dominate the market share as they are the main ingredients for the growth of infants. The oil and fats provide high energy and help in metabolism and other benefits for the development of the health of infants. On the basis of application, the market is divided into standard infant formula, growing-up milk, follow-on formula, and speciality. The growing-up milk segment is expected to dominate the market share as it helps to provide a balanced diet to infants. The need for additional nutrition options for infants helps to increase the demand for growing-up milk segment. On the basis of form, the market can be divided into powder and liquid/semi-liquid form. The powdered form has a higher demand due to its ease of use and handling. On the basis of source, the market can be divided into cow milk, soy, protein hydrolysates, and others. The cow milk segment is expected to dominate the market share due to its low cost and widespread acceptance. Also, the ingredients for cow milk are readily available, contributing to market growth.
The increase in the number of women going to work after giving birth is the major factor driving market growth. The inability of mothers to lactate, parents seeking additional sources of nutrition for babies are also fuelling the growth of the market. The health benefits received from the infant formula ingredients like healthy bone growth, improved digestion, low cholesterol, and less risk of cardiovascular diseases also contributes to the growth of the market. The changing preferences of the people towards a healthy lifestyle will also lead to market growth. Less awareness about the product and its benefits will act as a restraint to market growth.
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About the report:
The global infant formula ingredients market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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