(Entertainment-NewsWire.com, November 28, 2019 ) The infant formula ingredients market is estimated at USD 16.7 billion in 2019 and is projected to reach USD 25.5 billion by 2025, at a CAGR of 7.3% during the forecast period. The inability of mothers to lactate, rise in the number of women rejoining the workforce after childbirth, and a growing number of companies taking an interest in producing ingredients similar to human milk are some of the factors contributing to the growth of the infant formula ingredients industry in the coming years. In China, the demand for imported infant formula is expected to create a lucrative opportunity for international infant formula ingredients manufacturers in the coming years.
Based on the ingredient type, oils & fats accounts for the largest share in the infant formula ingredients market. Oils & fats are one of the key ingredients required for the growth of infants as they meet the need for high energy and also help in a wide range of metabolic and physiological functions critical to the development, growth, and health of infants. A mixture of vegetable oils is the most widely used fat source in infant formulas.
Based on the source, cow milk accounted for the largest share in the infant formula ingredients market in 2018. Factors contributing to its widespread acceptance include the cost-effective manufacturing process, and cow milk-based ingredients are available in bulk. Cow milk-based ingredients find widescale acceptance across Europe and North America regions. Apart from this, most of the infant formula manufacturers use cow-based ingredients, including Nestlé S.A. (Switzerland), Abbott Laboratories (US), and Mead Johnson & Company, LLC (US).
Based on application, the growing-up milk (12 months & above) segment accounts for the largest share in the infant formula ingredients market. Loaded with calcium, vitamin D, and iron, growing-up milk serves as a part of a balanced diet for infants. It compensates for nutritional deficiencies which may occur in the transition phase of infant nutrition to family food. Urge for additional nutrition options has enabled parents to opt for growing-up milk, and the demand looks lucrative in the coming years.
Based on form, the powder segment accounts for the largest share in the infant formula ingredients market. Infant formula ingredients are commonly used in the powdered form, owing to its ease of handling compared to liquid infant formula ingredients. Several types of ingredients such as carbohydrates, proteins, some fats, and prebiotics are commonly used in powdered form by infant formula manufacturers. Thus, high growth prospects lie ahead for powder infant formula manufacturers in the coming years, especially from the emerging countries.
Asia Pacific was the largest market for infant formula ingredients in 2018, followed by Europe. The region is backed by key revenue generating countries such as China, Japan, South Korea, and Australia & New Zealand. In China, imported infant formula has gained a robust demand post the melanin scandal in 2008. Asia Pacific consists of emerging countries undergoing urbanization. This has enabled women to rejoin workforce post-delivery, increasing the sales of infant formula and thus infant formula ingredients in the coming years. In Japan, the sales of liquid infant formula were promising as the country is prone to natural disasters, making liquid infant formula, a convenient option for parents in emergencies like these.
Infant formula ingredients manufacturers are focusing on expanding their consumer base in the market. Leading players operating in the Infant formula ingredients market include AAK AB (Sweden), Fonterra Co-operative Group Limited (New Zealand), Carbery Food Ingredients Limited (Ireland), Royal Friesland Campina N.V. (Netherlands), Sachsenmilch Leppersdorf GmbH (Germany), BASF SE (Germany), Koninklijke DSM N.V. (Netherlands), Arla Foods amba (Denmark), Chr. Hansen Holdings A/S (Denmark), Kerry Group plc (Ireland), Lactalis Ingredients (France), Glanbia plc (Ireland), and Vitablend Nederland B.V. (Netherlands).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
