Infant formula ingredients market is projected to grow at a CAGR of 9.4%.
The infant formula ingredients market is projected to reach USD 23.79 billion by 2022 at a CAGR of 9.4% from 2017 to 2022. The market is driven by factors such as the increasing number of working women, especially in regions such as Asia-Pacific and the Middle East, preference of convenience feeding as a result of busy lifestyles of mothers, and the inability of mothers to lactate sufficiently. Increasing awareness for natural infant feeding and strict regulations for infant formula are the major factors restraining the infant formula ingredients market.
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The growing-up milk segment led the infant formula ingredients market, by application, in 2016.
Growing-up milk is consumed by infants over 12 months of age. Its demand is higher compared to other formulas due to its nutrient benefits, such as calcium, vitamin D, and iron. Moreover, its demand is increasing in the market as parents are becoming cautious about the food they feed to their children and the rising awareness about the available options in the market. Furthermore, growing-up milk can be used as a nutritional drink or can be used in combination with other foods which have contributed to the overall demand for growing-up milk.
Asia-Pacific to dominate the infant formula ingredients market through 2022.
The market for infant formula ingredients in the Asia-Pacific region was the largest, wherein China was the largest country-wise market. The Asia-Pacific region has a large market for infant formula products. Its growing population and increasing purchasing power are two of the major factors attracting multinational players to expand in the domestic market. In terms of import of infant formulas, New Zealand is one of the major exporters of infant formulas to China, which generates high revenue for the country; hence, the market for infant formula ingredients is expected to witness substantial growth during the forecast period.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is mentioned as follows:
By Company Type: Tier 1 – 28%, Tier 2 – 39%, and Tier 3 – 33%
By Designation: Director Level – 21%, C Level – 49%, and Others – 30%
By Region: Asia-Pacific – 40%, Europe – 34%, North America – 15%, and RoW – 11%
Key players are as follows:
The global infant formula ingredients market is dominated by key players such as Arla Foods amba (Denmark), Glanbia plc (Ireland), Sachsenmilch Lepperdorf GmbH (Germany), AAK AB (Sweden), and Carbery Food Ingredients Limited (Ireland).
Infant formula ingredients, on the basis of type, is segmented into carbohydrates, oils & fats, proteins, vitamins & minerals, prebiotics, and others (nucleotides, emulsifiers, and probiotics). The applications of infant formula ingredients studied are growing-up milk, standard infant formula, follow-on formula, and special formula. On the basis of form, the market is segmented into powder and liquid & semi-liquid. The major sources considered include conventional and organic. On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Reasons to buy this report
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends) and company profiles, which together comprise and discuss the basic views on the competitive landscape—emerging and high-growth segments of the global infant formula ingredients market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following:
- Market Penetration: Comprehensive information on infant formula ingredients offered by top players in the global market.
- Product Development/Innovation: Detailed insights on upcoming equipment products, technologies, research & development activities, and new product launches in the infant formula ingredients market.
- Market Development: Comprehensive information about lucrative emerging markets.
- Market Diversification: In-depth information about new products, untapped regions, recent developments, and investments in the global infant formula ingredients market.
- Competitive Assessment: In-depth assessment of market share, strategies, products, and manufacturing capabilities of leading players in the global infant formula ingredients market.
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