New York, Aug. 04, 2022 (GLOBE NEWSWIRE) -- According to our new research study on Probiotic Infant and Child Formula Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type [Infant Formula (0–1 Year) and Growing Up Formula (1–6 Years)] and Distribution Channel (Online and Offline). Probiotic infant and child formula are designed to be as similar as breast milk. The most commonly used infant and growing-up formulas contain purified cow's milk whey and casein as a protein source, a combination of vegetable oils as a fat source, lactose as a carbohydrate source, a vitamin-mineral mix, and other ingredients depending on the manufacturer. Infant formula is manufactured for babies under the age of 12 months, whereas growing up formula is developed for children aged 1 to 6 years. Manufacturers offer these products in liquid and powder form.
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Probiotic Infant and Child Formula Market - Strategic Insights
| Report Coverage | Details |
| Market Size Value in | US$ 11.51 Billion in 2022 |
| Market Size Value by | US$ 25.41 Billion by 2028 |
| Growth rate | CAGR of 14.1% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 109 |
| No. Tables | 42 |
| No. of Charts & Figures | 54 |
| Historical data available | Yes |
| Segments covered | Type, and Distribution Channel |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Probiotic Infant and Child Formula Market: Competitive Landscape and Key Developments
Nestlé S.A.; HiPP GmbH & Company Vertrieb KG; Abbott Laboratories; Mead Johnson & Company, LLC.; and Bellamy's Organic are a few key players operating in the probiotic infant and child formula market. Leading market players adopt new product launches and mergers & acquisitions as key business strategies to expand their geographic presence and consumer base across the world. For instance, in May 2022, Nestlé launched new premium and ultra-premium infant formula products in the Chinese market through cross-border e-commerce.
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Based on type, the probiotic infant and child formula market is segmented into infant formula (0-1 year) and growing up formula (1-6 years). In 2021, the growing up formula (1-6 years) segment dominated the market. Furthermore, the same segment is expected to register a higher CAGR during the forecast period. In recent years, there has been an increase in awareness related to healthy and nutritional products as consumers are improving their diet for children. Daily diet intake does not accomplish the minimum requirement of nutrition of children. These factors increased the popularity of growing-up formula. Brand advertisements and promotional strategies also play key role in the rising popularity of the growing-up formula.
The probiotic infant and child formula market is segmented into four main regions—North America, Europe, Asia-Pacific (APAC), and the Rest of the World. In 2021, Asia Pacific dominated the global market. Increase in the middle-class population in emerging economies significantly contributes toward the growth of the market, due to their high purchasing power and affordability to spend on children. Increasing awareness about the nutritional needs of infants and children led to the market growth in Asia Pacific. Moreover, the higher birth rate per woman in countries, including India and China, is propelling the demand for probiotic infant and child formula.
In 2021, Asia Pacific dominated the global probiotic infant and child formula market. The region is expected to continue its dominance during the forecast period. The Asia Pacific market is expected to exhibit significant growth during the forecast period owing to increasing spending by new mothers on nutritious food for a child, accompanied by increasing purchasing capacity of people in the region. In 2021, North America was the second-largest market for probiotic infant and child formula. The increased demand for probiotic infant and child formula from working women in Europe is driving the growth of the market in the region.
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Probiotic infant and child formula is baby food containing rich nutritional values, including carbohydrates, vitamins, proteins, minerals, and fats. This formula is developed for infants and children for their overall development. Changing lifestyles of individuals due to considerably rising disposable incomes and increasing urban population boost the overall growth of the global probiotic infant and child formula market. Additionally, working women get less time for breastfeeding the infants. In such a situation, probiotic infant and child formula can fulfill needs of working mothers and provide nutritious and healthy food for their babies.
Based on type, the probiotic infant and child formula market is segmented into infant formula (0-1 year) and growing up formula (1-6 years). The growing up formula (1-6 years) segment dominated the market in 2021. Growing awareness for nutrition, increasing organized retail marketing, and rising urbanization, along with the surging number of working women population boost the market growth for the growing up formula (1-6 years) segment.
Based on distribution, the probiotic infant and child formula market is segmented into online and offline. The online segment is expected to register a higher CAGR during the forecast period. The increasing penetration of e-commerce is expected to drive the market growth for the online segment during the forecast period.
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In 2020, Asia Pacific accounted for the largest share of the global probiotic infant and child formula market. The region is expected to exhibit significant growth during the forecast period due to increased purchases by new mothers on nutritious food for a child, accompanied by increasing people's purchasing capacity in this Asia Pacific region.
Growing focus on infant care and nutrition and surge in the working women population is driving the probiotic infant and child formula industry. There has been substantial growth in the young working mother population. This has worked as a critical factor in propelling the growth of the probiotic infant formula market, as these working mothers are majorly dependent on processed infant nutrition products.
Based on the type segment, growing-up formula (1-6 Years) was the fastest-growing segment in 2021. The growing up formula is a milk-based formula that is developed for children that are 1 year and 6 years of age. While it is not used as a meal replacement but as additional nutrition for children.
Based on the distribution channel, the online segment led the global probiotic infant and child formula market in 2021. Online retail is one of the fastest-growing distribution channels due to its shopping and product delivery convenience. Online retail stores offer a wide variety of products with heavy discounts; also, consumers can conveniently buy desirable products remotely.
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Impact of COVID-19 Pandemic on Probiotic Infant and Child Formula Market Trend
During the COVID-19 pandemic in 2020, the probiotic infant and child formula market growth was impacted negatively due to the shutdown of manufacturing facilities, restrictions on transportation and logistics, and disruptions in supply chains. To comply with national and regional guidelines, manufacturers introduced extensive modifications to their processes to protect their employees from the infection of novel coronavirus. Many global manufacturers temporarily paused their operations or allowed production processes with limited employee strength. Despite these consequences, businesses started recovering as the governments of various countries brought relaxation in social restrictions. Moreover, during the COVID-19 pandemic, the rising awareness about the health and nutritional needs of infants and children bolstered the popularity of probiotic infant and child formula.
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