April 01, 2020
As per the recent study ‘Infant Formula Market Size By Product, By Distribution Channel Industry Analysis Report, Regional , Application Trends, Price Trends, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, the global infant formula market is projected to surpass USD 98 billion by the year 2025
Increasing birth rate across the globe is the primary growth driver of infant formula market. Surging woman workforce coupled with rising disposable income of middle-class households across nations like India, Indonesia, Thailand, South Korea, and Malaysia will augment the demand for infant formula during the analysis period.
Based on the product type, follow-on segment accounted for majority share of infant formula market in 2018 and is presumed to grow considerably in the forthcoming years. The product caters to infants in the age bracket of 6-12 years. Rising demand for infant food products with high nutritional value, so as to introduce infants to food other than breastmilk will favor the segment growth.
Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/1984522/
In terms of distribution channel, infant formula market share from supermarkets is projected to grow with 9.5% CAGR through 2025. Expansion of retail network across the globe coupled with growing availability of an array of products at varied price ranges are augmenting the industry outlook.
Considering the geographical outlook, infant formula market in Europe is slated to grow by 9% over 2019-2025. The regional growth can be credited to presence of major infant formula manufacturers in the region.
Meanwhile, Asia Pacific infant formula market held 35.6% volume share is 2018 and is anticipated to exhibit a strong growth in the ensuing years, on account of rising infant population in emerging economies across the region. Government initiatives to lower infant mortality rate in tandem with growing awareness towards infant formula products will enhance the regional business scenario.
Major players of infant formula market are Danone, Nestle, Abbott, Reckitt Benckiser, Perrigo Nutritionals, Hero Group, Arla Food Ingredients, HiPP, Otsuka Pharmaceutical Co. Ltd., and Bubs Australia.
Frequently Asked Questions (FAQ) :