NEW YORK, Nov. 17, 2017 /PRNewswire/ -- The value of the global infant nutrition market was around USD 44 billion during 2015. The market grew slightly to attain a value of around USD 47 billion during 2015.
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The global infant nutrition market is projected to reach USD X.XX billion by 2023, growing with a CAGR between 6.5 % and 7.0% from 2017 to 2023. Infants require only breast milk during their initial four to six months for nutrition. Infant nutrition products are partial or full alternative for the natural breast milk, for babies under the age of two years old, to provide the essential nutrients for growth. Infant formula and baby food are the two types of infant nutrition products available. Most of the Infant formulas available are made from cow milk.
Moreover, soya based formulas and protein hydrolysate based infant formulas are available in the world market. Ready to feed liquid infant formulas are also popular among the consumers nowadays. Infant formulas are helpful to many mothers who cannot breastfeed after few months of birth. Infants can consume solid foods after four to six months. Dried baby foods contain various cereals, dried fruits, and vegetables
Increasing number of working women across the world is a major driver for growth of global infant nutrition market. Rapid urbanisation and increasing disposable income among the couples make infant nutrition products affordable. As more doctors are positively recommending nutrition products for infants, it is generating more confidence among parents to buy them for their infants.
Improved packaging of the products is also generating more interest among the parents. The increasing malnutrition among babies across the world is a major driver of growth for global infant nutrition market. Organic baby foods segment is witnessing significant growth in the global infant nutrition market, due to awareness about the benefit of organic products. Organic infant nutrition products such as organic cow milk powder and soya milk based products are expected to get more demand during the forecast period.
The potential concerns for allergy and autoimmune diseases among some parents are major restraints for the global infant nutrition market. Furthermore, instances of contamination in products from certain manufacturers in the recent past pose concern about safety of packaged foods for infants among parents. High cost of production of infant nutrition products affects the retail price, as there are natural alternatives, and it is a restraint for the global infant nutrition market. The steady decline in birth rates in many matured economies is a major challenge for the major players in the market.
The report segments the global infant nutrition market by type and region. On the basis of type, the market is segmented as baby food and infant formula. Baby food is further sub- segmented into dried baby food, prepared baby food and other baby food. Infant formula is further sub-segmented into follow-on milk formula, growing up milk formula, infant milk formula and speciality baby milk formula.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. Europe is anticipated to remain as the leading infant nutrition market in the world. However, the steady decline in the birth rates is expected to slow the growth of the European market. Asia-Pacific is expected to attain the fastest growth rate due to the booming population in countries such as China, India, and Indonesia. North American infant nutrition market is expected to have stable growth rate due to stagnant birth rates. Increasing online retail sales of baby food products is a positive driver for the North American market.
Latin American infant nutrition market is expected to gain significant growth during the forecast period due to the demand from Brazil, Mexico and some other emerging nations in the region. The significant increase in working mothers is driving the demand for powdered milk products in the Latin American region. Increase in the birth rates and presence of millions of babies under the age of three in African countries are key factors that drives the African infant nutrition market. Global infant nutrition market is highly competitive and few major multinational companies control the market with more than 65% of the market share. Acquisitions and mergers are expected to be the strategies for new players to enter this booming market and the existing players are expected to use this route to consolidate their business.
The companies covered in the report include Abott Nutrition, Nestle S.A., Beingmate Baby & Child Food Co Ltd, Ellas Kitchen, Freisland Campina, Groupe Dandone, Hain Celestial Group, Mead Johnson Nutrition Company, Pfizer Inc, and The Kraft Heinz Company.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of infant nutrition globally as well as regionally.
Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and value chain analysis of infant nutrition.
Moreover, the study highlights current market trends and provides forecast from 2016 to 2023. We also have highlighted future trends in the infant nutrition market that will impact the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers, and distributors of the infant nutrition market to understand the present and future trends in this market and formulate their strategies accordingly.
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