The global infant formula market is anticipated to grow at a CAGR of 8% during the period spanning 2021-2025. The market in 2025 is predicted to be valued at US$93.33 billion. Factors that supported growth in the global infant formula market are increasing female participation in workforce, growth in middle class population and rise in e-commerce sales. The market growth is expected to be hindered by declining fertility rate and stringent regulations. However, the market would experience growth accrued to key trends like growing awareness about feeding baby foods and growing adoption of probiotics in infant formula.
The global infant formula market by product can be segmented as follows: toddler (1-2 months), standard (0-6 months), follow-on (6-12 months) and special (Premature & Allergic). In 2020, the dominant share of the market was held by toddler infant formula, followed by standard and follow-on infant formula. On the basis of distribution channel, the global infant formula market can be segmented into the following categories: hypermarkets/supermarkets, specialty stores and pharmacy/medical stores. The dominant share of the market in 2020 was held by hypermarkets/supermarkets segment.
The global infant formula market by region can be segmented into the following six regions: China, Asia Pacific (ex. China), Europe, North America, Latin America and MEA. In 2020, the dominant share of the global infant formula market was held by China, followed by Asia Pacific (ex. China) and Europe. The abolishment of one child policy in China was the one major factor that supported growth in China infant formula market. China is predicted to acquire dominant share in the global infant formula market, supported by various factors like increasing birth rates and growing preference for infant formula by working women.
Scope of the report:
• The report provides a comprehensive analysis of the global infant formula market with potential impact of COVID-19.
• The major regional markets (China, Asia Pacific (ex. China), Europe, North America, Latin America and MEA) have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Nestlé S.A., Danone S.A., Abbott Laboratories, Royal FrieslandCampina, Reckitt Benckiser and Kraft Heinz) are also presented in detail.
Key Target Audience:
• Infant Formula Producers
• Raw Material Suppliers
• Consulting Firms
• Investment Banks
• Government Bodies & Regulating Authorities