PUBLISHER: DataM Intelligence | PRODUCT CODE: 1285048
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1285048
The global infant nutrition market was valued at US$ 44,436 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 79,843 million by 2030. The market is growing at a CAGR of 7.6% during the forecast period (2023-2030).
One of the most important things that affect a child's development and growth is nutrition. A wide variety of newborn formulae and baby food products are included in the market for infant nutrition. Infant nutrition is defined as "food that is represented for special dietary use, exclusively as a food for infants as its simulation of human milk or its suitability as a complete or partial substitute for human milk" under the Federal Food, Drug, and Cosmetic Act. Infant nutrition is manufactured from liquid or powder and is produced for feeding babies and infants, who are typically under 12 months old. Infant nutrition promotes a baby's healthy growth and development, enhances cognitive function and development, shields them from allergies, and boosts their immunity and gastrointestinal health.
As people move from rural to urban areas, and as more women enter the workforce, there is a growing demand for convenient and easy-to-use infant nutrition products that can be consumed on the go. Additionally, changing lifestyles have led to a shift in dietary preferences and an increased awareness of the importance of nutrition in early childhood development. According to the United Nations, the global urban population is expected to increase from 55% in 2018 to 68% by 2050. This trend is particularly pronounced in emerging economies, where rapid urbanization is driving demand for infant nutrition products.
The development of specialty formulas is an opportunity for the infant nutrition market, as it allows manufacturers to create products that cater to specific nutritional needs or health conditions. This can help manufacturers differentiate their products and capture a larger share of the market. One area where specialty formulas have shown particular promise is in the treatment of allergies and intolerances. For example, hypoallergenic formulas have been developed for infants with cow's milk allergy or other food allergies, which can be a serious and potentially life-threatening condition.
The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it with pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).
The global infant nutrition market is segmented based on type, form, distribution channel, and region.
The powder segment, which includes products such as cereals and snacks, holds a significant share of the infant nutrition market. This can be attributed to several factors, including the convenience and ease of use of these products, as well as the nutritional benefits they provide. Solid form products also offer nutritional benefits, as they often contain important nutrients such as iron and zinc, which are essential for infant growth and development. Additionally, many solid-form products are fortified with vitamins and minerals, further enhancing their nutritional value.
The main key driver of growth in the Asia Pacific market is increasing birth rates. According to data from the World Bank, several countries in the region, including India, China, Indonesia, and the Philippines, have some of the highest birth rates in the world. This creates a large and growing market for infant nutrition products. Another factor driving growth is rising disposable income, particularly in emerging economies such as China and India. As disposable income levels increase, more parents can afford premium infant nutrition products, such as organic or specialty formulas.
The major global players include: Abbott Laboratories, Baby Gourmet Foods, Inc., Bellamy's Australia Limited, Danone S.A., Royal FrieslandCampina NV, Reckitt Benckiser (Mead Johnson), Nestle S.A., Perrigo Company Plc, Parent's Choice Infant Formula, and The Kraft Heinz Company.
The global infant nutrition market report would provide approximately 61 tables, 57 figures, and 200 Pages.
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