Higher birth rates in developing regions expected to drive the growth of the market for infant formula
In terms of revenue, the global infant formula market is estimated to expand at a CAGR of 9.5% over the forecast period, owing to numerous factors, about which FMI offers thorough insights and forecasts in this report. Rising number of working women expected to fuel the market growth of infant formula in terms of value across the globe. Furthermore, the market for infant formula is also benefited by the growth in demand for probiotic infant formula across the globe. Rise in premium infant nutrition products along with higher birth rates in developing regions thus, contributing towards the market revenues of the overall infant formula market over the forecast period.
To provide in-depth insights on the pattern of demand for infant formula, the market is segmented on the basis of product type, distribution channel, and region. Surge in the number of working mothers is a key factor driving the infant formula market growth currently. As many working mothers join their jobs quickly post-delivery, they find the infant formula very convenient as it can be prepared in lesser time and comprises all the essential nutrients required for the growth of the baby. Moreover, Availability of infant formula products in pouch form is increasing significantly as compared to the traditional packaging forms such as in tubs or glass. Among these, pouches with plastic spouts at the top provide sipping ease. The popularity of pouches among the consumers is increasing day by day in view of their ease of use and the handling flexibility on offer. Besides, pouches are very convenient for the baby who can thus independently self-feed themselves. They also act as a more attractive proposition for customers looking for new innovative and convenient infant nutrition products.
Market Segmentation by Product Type
On the basis of product type the market is segmented into starting milk formula, follow-on milk formula, toddlers milk formula, and special milk formula.
Starting milk formula to gain high recognition, consequently pushing its consumption across the globe during the period of forecast
The starting milk formula are meant for infants between 0 and 6 months. Increasing prosperity, coupled with modernization is reinforcing the demand for baby products across the globe. High growth in the number of working women and growing middle class families across the globe has led to increasing penetration of starting milk formula. In 2017, the starting milk formula segment was valued a little under US$ 13 Bn and is estimated to reach a significant valuation of more than US$ 33 Bn by the end of the year of assessment (2027). The starting milk formula segment is projected to grow at a high rate to register a high value CAGR of 10.0% throughout the period of assessment (2017-2027).
Follow-on milk formula and special milk formula segments t show same growth rates throughout the forecast period
The follow-on milk formula segment and special milk formula segment are expected to witness same demand and consumption rate throughout the forecast period. These segment are expected to grow at a significant and same CAGRs throughout the period of assessment. However, follow-on milk formula segment is estimated to reach a valuation that is about 3x more than the valuation of special milk formula by the end of the year of assessment, thus making follow-on milk formula to be an attractive product segment in this market.
In this report, Future Market Insights (FMI) offers a 10-year forecast of the global infant formula market between 2017 and 2027. The current study reveals the market trends and market dynamics in all seven regions that are expected to positively affect the current market environment and future scenario of the infant formula market over the forecast period.
This Future Market Insights report inspects the infant formula market for the period 2017–2027. The prime objective of this report is to offer insights into developments in the infant formula market that are gradually helping transform global businesses associated with the same.
The global infant formula market report begins by the executive summary and defining various categories and their share in the infant market. It is followed by market dynamics, overview of the global infant formula market, which includes FMI analysis of market drivers, restraints, opportunities and trends that are affecting growth of the infant formula market. Furthermore, to understand the popularity of the market segment and regions, the attractiveness index with elaborated insights on the same is provided, which will show the market’s attractiveness based on the factors such as CAGR and incremental opportunity.
The infant formula market is segmented based on product type, distribution channel, and region. On the basis of product type the market is segmented into starting milk formula, follow-on milk formula, toddlers milk formula, and special milk formula. On the basis of distribution channel the market is segmented into specialty outlets, supermarkets, online stores, pharmacy stores, and others.
The next section of the report highlights the infant formula market, by region, and provides the market outlook for 2017–2027. The study investigates the market attractiveness regionally, as well as analysis the limit to which the trends are influencing the infant formula market in each region. Main regions assessed in this report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA).
To ascertain the infant formula market size, we have also taken into account the revenue generated by the various manufacturers. The forecast presented here assesses the total revenue generated by value, across the infant formula market. In order to provide an accurate forecast, we initiated by sizing up the current market, which forms the basis on how the infant formula market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome on the basis of three different types of analysis; based on supply side, downstream industry demand and the economic envelope. In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of the infant formula market and identify the right opportunities across the market.
The infant formula market segments based on product type, distribution channel, and region, have been analysed in terms of basis point share (BPS) to understand the individual segment’s relative contributions to market growth. This detailed level of information is important for identifying various key trends in the infant formula market. Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is overlooked while forecasting the market. However, absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve, as well as to identify potential resources from a delivery perspective of the infant formula market. The overall absolute dollar opportunity along with the segmental split is mentioned in the report.
To understand key growth segments in terms of growth and consumption of infant formula globally, Future Market Insights developed the infant formula market ‘Attractiveness Index.’ The resulting index should help providers identify real market opportunities.
In the final section of the report on infant formula, the ‘dashboard view’ of the companies is provided to compare the current industrial scenario and their contribution in total infant formula market. Moreover, it is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment. Report audiences can gain segment-specific manufacturer insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the infant formula marketplace.
Key Segments Covered
By Product Type
By Distribution Channel