Global infant nutrition market overview and outlook:
- The global market for infant nutrition products is growing at a robust pace driven by growing infant health awareness, changing lifestyles and new product developments aimed at a more nutritional offering for infants
- The infant nutrition market comprises a diversified range of products from various infant formulas to baby food products. In terms of product type, the infant milk segment accounted for the largest share and is likely to continue its dominance in the next five years.
- In terms of geographies, Asia Pacific accounts for more than 50% of the overall market, higher than the combined share of North America and Europe. This is likely to continue in the future as well as the population along with the growing working class increases in the major countries.
- As per estimates, the per capita income in these emerging or developing markets is expected to increase at a much faster rate compared to developed countries. This will be one of the key factors driving growth in the infant nutrition market.
- The future growth in the market will be characterized by increasing product innovations as companies intensify their R&D efforts to meet the expectations of both the consumers and the regulatory authorities. Innovations aimed at improving the safety standards through process improvements and technological advancements are expected to boost the demand for infant nutrition products worldwide.
- Key players operating in the infant nutrition industry include Abbott, Arla Foods, Dana Dairy Group, Danone, Nestle, Heinz Baby, etc.
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Market Growth Drivers and Trends:
Key factors driving the global infant nutrition market are:
- Rising global per capita income
- Increase in urbanization
- Growing middle class population and increasing participation of females in the labor force
- Innovations in products and technology advancements
Key factors likely to restrain or slow down growth in the global infant nutrition market :
- Lower birth rates in some markets
- Stricter rules and quality checks by the governments
Global Infant Nutrition Market Research Scope:
The base year of the study is 2019, with forecast done up to 2024. The report provides a detailed assessment of the global infant nutrition market, including insights on the market dynamics, key drivers, challenges, regulations impacting the market, technology assessment and value chain analysis.
We have also estimated the current market size for infant nutrition market globally and by geography, form, distribution channel and product type; 5-year outlook of the market, factors driving growth along with regional insights and trends
The study also presents a thorough analysis of the competitive landscape, considering the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the global infant nutrition market.
Author – Prasanth R Krishnan
Associate Director – Operations
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