Dublin, Nov. 29, 2024 (GLOBE NEWSWIRE) -- The "Infant Formula Global Market Insights 2024, Analysis and Forecast to 2029, by Manufacturers, Regions, Technology, Application, Product Type" report has been added to ResearchAndMarkets.com's offering.
The global infant formula market has experienced significant growth over the past several years. The increasing awareness of infant nutrition and a growing number of working mothers have driven the demand for convenient and nutritious infant feeding options. With a rise in disposable income and the changing lifestyle patterns of families, the market for infant formula continues to expand.
As of 2023, the global infant formula market was valued at approximately $60 billion. It is projected to reach around $85 billion by 2029, growing at a CAGR of around 6% during the forecast period from 2024 to 2029. This growth is spurred by factors such as increasing urbanization, rising health awareness, and the introduction of organic and specialty formulas that cater to specific dietary needs.
Share & Trends Analysis Report
By Product Type
The infant formula market is segmented primarily into three product types:
- Standard Infants Formula : Holds the largest market share, catering to the general population of infants.
- Organic Infant Formula : Gaining traction due to growing health consciousness among parents.
- Specialized Infant Formula : Includes formulas for premature babies or infants with allergies, showing significant growth due to its niche market.
By Key Players
The competitive landscape of the infant formula market is characterized by numerous established players and emerging companies.
Key players in the Infant Formula market include:
- Nestle
- Danone
- Abbott Laboratories
- Reckitt Benckiser Group
- Perrigo Company
These companies are focusing on product innovations, advanced packaging, and strategic partnerships to enhance their market presence.
By Process
Infant formula is manufactured through various processes, with the key categories being:
- Conventional : The traditional method, widely used for standard infant formula.
- Hydrolyzed Protein : Used in specialized formulas for infants with milk protein allergies.
- Lactose-Free : For lactose-intolerant infants, garnering significant market interest.
By Application
The application of infant formula spans across several categories, mainly:
- Health & Nutritional Benefits : Formulas enriched with vitamins, minerals, and probiotics.
- Convenience : Ready-to-feed and powdered formats that appeal to new parents.
By End-Use
The primary end-users of infant formula are:
- Individuals : Parents choosing formula as the primary feeding method for their infants.
- Healthcare Institutions : Hospitals and clinics providing formula during infancy for health emergencies or nutritional support.
By Region
The regional analysis indicates substantial differences in market behaviors and growth prospects:
- North America : The largest market, driven by high disposable income and extensive product availability.
- Europe : Offers significant growth potential primarily due to a high standard of living and increasing demand for organic products.
- Asia-Pacific : Expected to witness the highest growth rate due to rising populations, urbanization, and a growing middle class.
- Latin America : A gradually expanding market, supported by economic development and changing consumer preferences.
- Middle East & Africa : Emerging markets with increasing awareness of infant nutrition.
Market News on Policy and Companies
Various governments worldwide are implementing policies to regulate the infant formula market, focusing on safety standards and nutritional guidelines. The introduction of tighter regulations around marketing practices and labeling has enhanced consumer trust.
Companies are continuously adapting to these changes, with initiatives focusing on transparency and clean labels for consumer products to reflect health-conscious trends. For instance, major players like Nestle and Abbott have ratified commitments to improve nutritional quality in their infant formulas.
Segment Forecasts 2024-2029
The forecast for the infant formula market is optimistic, with several segments expected to exhibit robust growth:
- Organic Infant Formula : Anticipated to exhibit a CAGR of over 8% as more parents prioritize organic products.
- Specialized Infant Formula : Expected to grow significantly with predicted expansion in product offerings for allergic infants.
- Ready-to-Feed Formats : Forecasted to witness high demand due to the convenience factor, particularly in urban areas with busy lifestyles.
Overall, the infant formula market is on a steady growth trajectory, driven by evolving consumer preferences, increased health consciousness, and innovations in product offerings. Stakeholders should remain vigilant to adapt to trends and shifts in consumer demand as they pursue market opportunities.
Key Topics Covered:
Chapter 1 Executive Summary
Chapter 2 Abbreviation and Acronyms
Chapter 3 Preface
Chapter 4 Market Landscape
4.1 Market Overview
4.2 Classification/Types
4.3 Application/End Users
Chapter 5 Market Trend Analysis
Chapter 6 Industry Chain Analysis
6.1 Upstream/Suppliers Analysis
6.2 Infant Formula Analysis
6.3 Downstream Buyers/End Users
Chapter 7 Latest Market Dynamics
7.1 Latest News
7.2 Merger and Acquisition
7.3 Planned/Future Project
7.4 Policy Dynamics
Chapter 8 Trading Analysis
8.1 Export of Infant Formula by Region
8.2 Import of Infant Formula by Region
8.3 Balance of Trade
Chapter 9 Historical and Forecast Infant Formula Market in North America (2019-2029)
9.1 Infant Formula Market Size
9.2 Infant Formula Demand by End Use
9.3 Competition by Players/Suppliers
9.4 Type Segmentation and Price
9.5 Key Countries Analysis
Chapter 10 Historical and Forecast Infant Formula Market in South America (2019-2029)
10.1 Infant Formula Market Size
10.2 Infant Formula Demand by End Use
10.3 Competition by Players/Suppliers
10.4 Type Segmentation and Price
10.5 Key Countries Analysis
Chapter 11 Historical and Forecast Infant Formula Market in Asia & Pacific (2019-2029)
11.1 Infant Formula Market Size
11.2 Infant Formula Demand by End Use
11.3 Competition by Players/Suppliers
11.4 Type Segmentation and Price
11.5 Key Countries Analysis
Chapter 12 Historical and Forecast Infant Formula Market in Europe (2019-2029)
12.1 Infant Formula Market Size
12.2 Infant Formula Demand by End Use
12.3 Competition by Players/Suppliers
12.4 Type Segmentation and Price
12.5 Key Countries Analysis
Chapter 13 Historical and Forecast Infant Formula Market in MEA (2019-2029)
13.1 Infant Formula Market Size
13.2 Infant Formula Demand by End Use
13.3 Competition by Players/Suppliers
13.4 Type Segmentation and Price
13.5 Key Countries Analysis
Chapter 14 Summary For Global Infant Formula Market (2019-2024)
14.1 Infant Formula Market Size
14.2 Infant Formula Demand by End Use
14.3 Competition by Players/Suppliers
14.4 Type Segmentation and Price
Chapter 15 Global Infant Formula Market Forecast (2024-2029)
15.1 Infant Formula Market Size Forecast
15.2 Infant Formula Demand Forecast
15.3 Competition by Players/Suppliers
15.4 Type Segmentation and Price Forecast
Chapter 16 Analysis of Global Key Vendors
- Nestle
- Danone
- Mead Johnson
- Abbott
- FrieslandCampina
- HiPP
- Heinz
- a2 Milk
- Bellamy's Organic
- Hero Group
- Morinaga
- Meiji
- Yili
- Firmus
- Ausnutria
- Biostime
- Junlebao
- Yashili
- Wondersun
- Synutra
- Beingmate
- Mengniu
For more information about this report visit https://www.researchandmarkets.com/r/16e0ln
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