Published Date : May 02, 2017
Albany, New York, May 2, 2017: MarketResearchReports.biz has announced the addition of a new report, titled “Global Infant Formula Market: Industry Analysis & Outlook (2017-2021),” to its large database. The report provides an in-depth reports of all the important aspects of the global infant formula market during the forecast period between 2017 and 2021. It assesses key opportunities and trends in the global market. Competitive profiling of prominent participants in the global market form an important part of the report.
The food and beverage industry worldwide is expanding at a significant pace and the infant formula segment is a major contributor to its growth. The increasing consciousness among parents regarding their infant’s health is stirring up the demand for infant formula. The expansion in the retail and e-commerce sector is also impacting the market positively. Moreover, the rising income of parents and rapid urbanization are augmenting the global market. Besides this, the rising birth rates and improving economic conditions in developing countries are escalating the growth of the global infant formula market. Infant formula is commonly available in the form of milk formula, dried powders, and ready-to-use forms.
However, the high production cost of infant formula is hampering the growth of the global market. Moreover, the lack of awareness regarding such formula in developing and less developed countries is hampering the growth of the market. On the other hand, the growing inclination towards natural and organic food product is compelling manufacturers shift their focus from artificial ingredients to ingredients that provide natural health benefits. In addition, manufacturers are involved in making formulas that resemble the composition, functionality, and nutrition of breast milk. These trends are likely to have a major impact on the growth of the market.
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Geographically, Asia Pacific will be a prominent destination of for infant formula manufacturers in the global marketplace. The widening population pool of working women is driving the demand for convenient baby feeds, thereby fuelling the growth of the region. The increasing demand for organic products for babies, favorable economic conditions, and increasing urbanization are contributing to the growth of APAC. Emerging countries such as China and India will register high demand for infant formula over the coming years.
The majority of players in the global infant formula market are competing in terms of price, quality, distribution, innovation, and reputation. Players are aiming at developing products that are in line with the changing requirements of consumers, which will also help them in enhancing their visibility in the market. This is likely to intensify the competition in the market in the near future.
Companies are paying high attention to product quality and innovation, as customers are lining up to patronize the providers that are offering superior quality products. Some of the prominent companies operating in the market are Nestlé SA, Kraft Heinz, Danone S.A., Abbott Nutrition, Stonyfield Farm, and Mead Johnson Nutrition.
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