Infant Nutrition Market Size, Industry Analysis Report, Regional Outlook, Application Growth Potential, Competitive Market Growth & Forecast, 2020 - 2026
Report ID: GMI1651
Infant Nutrition Market size is anticipated to witness lucrative growth over the forecast timeframe.
High birth rate in developing regions should drive the infant nutrition market growth. Majority of the global population resides in developing countries where birth rates are highest. For instance, birth rate in developing economies such as India and Malaysia was about 19.9 and 16.8 per 1000 people respectively while it was approximately 12.5 and 12 per 1000 people in developed economies of U.S. and UK in 2014.
Rapid urbanization coupled with growth of middle class in developing regions will boost market growth. Increasing number of working mothers along with rising disposable incomes will further accelerate the infant nutrition market growth.
Presence of convenient packaging will increase infant nutrition market growth. Increasingly busy parental lifestyles have led to increased demand for conveniently packaged baby which are easy to transport such as pouches with plastic spouts at the top. Furthermore, the convenient packaging promotes self-feeding and independence among babies.
Increasing health consciousness amongst consumers has resulted in parents seeking natural, minimally processed baby foods which set their children up for a healthy lifestyle. Rising demand for organic baby foods will expand infant nutrition market.
However, concerns pertaining to risk of babies acquiring allergies from consumption of artificial infant formula and baby foods will impede market to some extent. Moreover, psychological block in the minds of parents regarding packaged baby foods will restrain growth.
Products for infant nutrition include infant formula and baby food. Infant formula segment encompasses infant milk formula, growing up milk formula, follow on milk formula and specialty baby formula. Infant milk formula held largest market share in 2015. Only breast milk can be viably substituted for infant milk formula. Absence of other alternatives to infant milk formula will serve to be as a high impact rendering factor. Presence of high birth rate in developing countries will further boost demand. Growing up milk formula is anticipated to grow at a robust rate over the forecast period owing to increasing product awareness in developing economies coupled with increasing income levels of consumers.
Baby food includes prepared, dried and other baby foods. Continuous product innovations will boost segment growth over the forecast timeframe. However, presence of low birth rate and market saturation in developed countries will impede growth to some extent. Low penetration along with presence of high unmet needs, increasing birth rates and rising disposable incomes will increase market growth in developing regions.
On the basis of distribution channel the infant nutrition market is segmented into online stores, specialty stores, supermarkets, pharmacy stores and others. Pharmacy stores dominated the market share in 2015.
India is predicted to grow at robust rate over the forecast period. Presence of high birth rate will serve to be a high impact rendering factor. Growing population of working women leading to greater adoption of infant formula and baby food owing to the convenience provided by them will escalate market growth. Economic development resulting in higher disposable incomes will further boost market growth.
Latin America infant nutrition market is anticipated to witness lucrative growth over the forecast period. Presence of high unmet needs coupled with high birth rates in countries such as Brazil, Mexico and Argentina will drive market growth in these countries. Increasing public awareness levels pertaining to infant formula and baby foods coupled with increasingly busy lifestyles and growth in number of working women will escalate demand.
Some of the industry players in infant nutrition market include Nestle, Mead Johnson & Company, Danone, Abbott, The Kraft Heinz company, Meiji Holdings, Beingmate Group, Synutra International Inc., Glanbia, Perrigo Company
The market players resort to various strategic initiatives such as new product launches, mergers and acquisitions to strengthen their foothold in the market and expand their product offerings. For instance in July 2016, Danone entered into an agreement to acquire WhiteWave Foods for about USD 10 billion which will broaden the company’s product portfolio.
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