June 10, 2021
According to the research report titled ‘Global Infant Nutrition Market Size Study, By Product Type (Follow-on Milk, Specialty baby milk, Infant Milk, Prepared baby food, Dried baby food), By Form (Solid baby food and Liquid baby food), By Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Pharmacy, Online and Others) and Regional Forecasts 2021-2027’, available with Market Study Report LLC, global infant nutrition market was assessed at USD 50.46 billion in 2019 and is anticipated to be worth USD 109.10 billion by 2027, growing at an annual rate of 10.6% between 2021-2027.
Swift urbanization and adoption of comfort-oriented life have surged demand for pre-made meals for toddlers and is spurring global infant nutrition market expansion. Also, initiatives by private firms and government entities to improve cognizance regarding infant health will augment the market outlook. Citing an example, in March 2020, the Kraft Heinz Company partnered with Babytree Group, the largest childcare platform in China, to donate 4000 boxes of infant nutrition product to needy families through the Fosun Foundation (Shanghai).
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For the unversed, infant nutrition products are manufactured for babies or infants who are usually below 12 months of age. They are available in powder or liquid form. Utilization of these products leads to healthy growth, enhancement in overall cognitive performance & development, and improvement in gastrointestinal health as well as immunity of babies.
Surging demand for natural products and enhanced safety due to technological advancements and improvements in manufacturing processes will facilitate global infant nutrition industry growth as well.
Based on product gamut, the industry is divided into specialty baby milk, follow-on milk, infant milk, dried baby food, and prepared baby food. Speaking of form, the market sphere is bifurcated into solid baby food and liquid baby food. Moving on to distribution channel, worldwide infant nutrition market space is segmented into online, hypermarket/supermarket, pharmacy, convenience stores, and others.
Regionally speaking, Asia Pacific held majority of global infant nutrition market share in the recent past due to rising population of working women resulting in increasing adoption of baby formula. Meanwhile, Europe market is speculated to record significant expansion between 2021-2027, owing to rising public awareness about infant formula.
Key players profiled in the report are Perrigo Company plc, Abbott Laboratories, Arla Foods amba, Kraft Heinz Company, Campbell Soup Company, Danone S.A., Reckitt Benckiser Group plc, DANA Dairy Group Ltd., Nestle S.A., and Anand Milk Union Limited (AMUL).