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Infant Formula Market: COVID-19 Impact and Global Analysis Forecast to 2028

Published Date: May 2021

No. of Pages: 203

Status: Upcoming

Report Code: EMR100001

Infant formula generally refers to a type of food product basically designed to meet the nutritional desires of infants of age groups between zero to twelve months. Infant formula is basically used as an alternative product of mother’s breast milk and comprises of various essential ingredients that are present in mother’s breast milk. Infant formula is available globally in ready to use, powders and liquid forms. Various types of infant formulas such as organic infant formula, prebiotic infant formula, lactose free formula, soy based formula and non genetically modified organisms’ infant formula are broadly available in the global market. Infant formula products are mostly suitable for those children who are under the age of one year.

One of the most important factors fueling the growth of the global infant formula market is the rapidly increasing concerns related to health among working parents. Since most of the parents are inclined towards optimal health nutrition and dietary products in order to ensure the efficient development and growth of their babies. In addition to this, parents are broadly opting for packaged foods for their babies and packaged infant formulas as a substitute of breast feeding. Working parents are readily willing to spend on the expensive and high quality baby food products in order to ensure their efficient well being. This rapid growth in the nutritional concerns has bolstered the infant formula suppliers and vendors to emerge with several organic and natural products which are comparatively more nutritional and safer when compared to other conventional food products.

The global infant formula market can be classified based on food type, product type, geography and distribution channel. On the basis of product type, the global infant formula market can be divided into starting milk formula, follow on milk formula, toddler’s milk formula and special milk formula. Based on type of food, the global infant formula market can be bifurcated into dried baby food, prepared baby food and milk formula. On the basis of distribution channel, the global infant formula market can be categorized into specialty outlets, supermarkets, drugstore, pharmacist/chemist, online stores and others. On the basis of geography, the global infant formula market can be bifurcated into North America, Latin America, Europe, Middle East & Africa and Asia Pacific. The robust demand especially in the Asia Pacific region is anticipated to be one of the key driving factors for the overall growth of the global market. Moreover, China is further anticipated to account for the highest share in the global market and is predictable to maintain its lead in the overall demand during the forecast period. This can be attributed to rapid industrialization and increasing urbanization during the past few years. The markets in various other developing economies such as Russia, Brazil, Indonesia, Poland, Argentina, New Zealand, Korea and India among others are also expected to witness a rapid growth throughout the forecast period. Moreover, increasing per capita disposable income and surge in the global economy is also another key factor which is expected to bring impetus in the growth of the Key players operating in the global market are concentrating on some of the major market strategies such as partnerships, mergers, collaborations and acquisitions in order to keep hold in the ever competitive global market. In addition, they are focusing on gaining hold on the local players to strengthen their goodwill as well as to enhance their market reach in the global market.
Some of the key players involved in the global infant formula market include Arla Foods, Amara Baby Food, Baby Gourmet, Ella's Kitchen Group, Friso, Green Monkey, Healthy Sprouts Foods, Hero Group, Morinaga, Meiji, Nurture (Happy Family), One Earth Farms, Parent's Choice, Plum Organics, Sprout Foods and Stonyfield Farm among others.

The global infant formula market can be classified
Based on product type
• Starting milk formula
• Follow on milk formula
• Toddler’s milk formula
• Special milk formula
Based on type of food
• Dried baby food
• Prepared baby food
• Milk formula

Based on distribution channel
• Specialty outlets
• Supermarkets
• Drugstore
• Pharmacist/chemist
• Online stores and others

Based on geography
• North america
• Latin america
• Europe
• Middle east & africa
• asia pacific

The Leading Key Players in Infant Formula Market

Arla Foods
Amara Baby Food
Baby Gourmet
Ella's Kitchen Group
Green Monkey
Healthy Sprouts Foods
Hero Group
Nurture (Happy Family)
One Earth Farms
Parent's Choice
Plum Organics
Sprout Foods
Stonyfield Farm