NEWARK, Del: , Oct. 06, 2022 (GLOBE NEWSWIRE) -- As per the report published by FMI, the global infant formula ingredients market is projected to have a moderate-paced CAGR of 7.2% during the forecast period. The current valuation of the market is US$ 16.3 Billion in 2022. The market value of infant formula ingredients is anticipated to reach a high of US$ 32.8 Billion by the year 2032.
FMI has analyzed that the popularity of organic infant formula is increasing because of its multiple benefits such as low/no health complications. There is a segment of health-conscious consumers who prefer organic products over conventional products because of their highly processed methods, artificial ingredients, and their effects on babies’ hormones and growth.
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It is anticipated by the expert analysts at FMI that the rising demand for organic infant formula is a key trend gaining popularity in the infant formula ingredients market, as organic infant formula is a non-GMO (non-genetically modified) product made from grass-fed cows and has no artificial growth hormones or antibiotics
It has also been revealed by the analysts at FMI that Sales are anticipated to rise in the emerging markets on account of consumers' hold for novel, convenient, nutrient-rich products, and increasing consumer incomes will boost affordability. Furthermore, the growing middle class is creating increasing demand for the consumption of probiotic ingredients in the form of infant formula, forcing retailers and convenience store owners to continuously strive to achieve relevance in pricing and product offerings
Key Takeaways from the Infant formula ingredients Market Study:
- North America is currently accountable for a market share of 38% in the infant formula ingredients market.
- Asia Pacific excluding Japan is projected to advance at a CAGR of 8.6% during the forecast period.
- The Infant Milk Formula segment is projected to record a CAGR of 9.5% during the period 2022-2032.
- As per FMI, China will account for a CAGR of 7.9% over the forecast period.
- The global infant formula ingredients market is forecasted to surpass US$ 32.8 Bn by the end of 2032.
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“Sales of growing-up milk application is expected to witness strong gains owing to augmented product awareness, particularly in emerging markets across the globe, and is likely to create lucrative growth opportunities for the market players.”- Says an FMI Analyst
Competition Landscape in the Infant Formula Ingredients Market
The industry is extremely aggressive with companies undertaking some activities including strategic alliances, capital extension, regular mergers, and acquisitions. Major players are concentrating on expanding their share of the total industry coupled with productivity through technological innovation.
Innovation and expansion of business are the key strategies adopted by companies o compete in the global market. Moreover, the industry is focusing on innovation and the development of new products to significantly aid market growth.
Co-operative Group Limited, AAK AB, Royal Friesland Campina N.V., Carbery Food Ingredients Limited, Glanbia plc, BASF SE, Koninklijke DSM N.V., Sachsenmilch Leppersdorf GmbH, Chr. Hansen Holdings A/S, Arla Foods, Lactalis Ingredients, Kerry Group plc, and Vitablend Nederland B.V. are some of the key companies in the market.
Recent Developments in the Infant Formula Ingredients Market
- In March 2020, Nestle S.A. introduced a first-of-its-kind, single-material pouch for its baby food products. The newly designed recyclable pouch is made from polypropylene, a versatile form of plastic available commercially.
- In January 2019, Arla Foods, a subsidiary of Arla Foods amba, launched an optimized comfort concept for easy digestion of whey protein baby food.
- In August 2019, Danone Nutricia – a brand of Danone SA launched a new product, Karicare Toddler with the new product innovation made with pure New Zealand sheep milk.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Product launches & Recent Developments
3.4. Product Life Cycle Analysis
3.5. Value Chain Analysis
3.6. Global Infant Formula Ingredients Market - Pricing Analysis
3.7. Forecast Factors - Relevance & Impact
3.8. Regulatory Landscape
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