Infant formula is a substitute for the human’s milk, to feed the infants of age under 12 months. This processed food is the complete simulation of human milk, which is rich in proteins, carbohydrates, vitamins and fatty acids, among others. Factors such as unhealthy mother, inefficiency of the infant to breastfeed, lactation insufficiency, working mother, and absence of the mother are primarily driving the global infant formula market. Apart from this, the high nutritional value of the infant formula and rise in birth rate are also causing a widespread adoption of this manufactured food. Despite the benefits, health risks associated with the usage of infant formula such as respiratory tract infection, atopic dermatitis, asthma, obesity and sudden infant death syndrome, among many others are hampering the growth of the market. Besides such health risks, the strict regulations on marketing and production of the infant formula, high cost of the ready to eat formulas, and low lifetime of the infant formula are also acting as a challenge to the market. These challenges are expected to have moderate impact on the infant formula market, as the growing demand for organic baby food and the innovation in its ingredients are anticipated to offset the challenges and propel the infant formula market in the coming years.
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Insights Presented in the Report
· Based on form types, the infant formula market is classified into dry powder and ready to feed solutions. The dry powder form needs to be mixed with some fluid base to make it ready to feed, which is time-consuming. On the other hand, the ready to feed form saves time and hence is widely used by working mothers. It holds a major share in the infant formula market and a similar trend is expected to follow in near future.
· Based on product types, infant formula market starting milk formula, follow-on milk formula, toddler’s milk formula and special milk formula. Among these different product types, starting milk formula type is expected to be the maximum revenue generator. The starting milk formula market is given to infants between 0 to 6 months. The increasing per capita income and a high percentage of working women are the primary factors fueling the market for starting milk formula type.
· Based on distribution channels, the market is segmented into specialty outlets, supermarkets, online stores and pharmacy stores. As the supermarkets are easily approachable, the distribution channel is expected to occupy the highest market share.
· For better understanding of the market penetration of global UHT milk market, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Mexico and the rest of North America), Europe (Germany, France, U.K., Russia, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Australia and the rest of Asia-Pacific) and rest of world. Asia Pacific dominates the market due to the large consumer base, high birth rate and growing economic conditions of the consumers. North America follows the market after Asia Pacific due to the presence of some key manufacturers in the region.
· Some of the major players operating in the market include Nestle S.A., Mead Johnson Nutrition, Danone, Inc., Meiji Holdings Co. Ltd., Abbott Nutrition, The Kraft Heinz Company, Friesl and Campina, Pfizer Inc., and Beingmate Baby & Child Food Co. Ltd and Perrigo Company Plc
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