Level of Market Concentration in the Baby Formula Industry
Manufacture Overview
Global Babe Formula Market size was more than USD 52 billion in 2018 and will witness a nine.8% CAGR through 2025 driven by the increasing number of infants born every year. Increasing number of working mothers, driven by economic growth which brings more than women into the workforce, is a key market place growth driver from by several years.
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For instance, according to the United nations, global baby population in 2015 was 673.half dozen one thousand thousand and is likely to reach 733.3 million by 2025. Moreover, increasing number of middle-class households in emerging economies including India, Indonesia, Thailand, Malaysia, South korea, etc., have resulted in economic and population growth and rise in number of consumers who tin can afford infant formula for their babies.
The regulatory hurdles associated with the infant formula production may restrict the product need over the forecast catamenia. This can be ascribed to the implementation of stringent quality and rubber standards for production manufacturers led past multiple countries and regulatory authorities.
| Report Coverage | Details |
|---|---|
| Base Year: | 2018 |
| Market place Size in 2018: | 52 Billion (USD) |
| Forecast Period: | 2019 to 2025 |
| Forecast Period 2019 to 2025 CAGR: | 9.8% |
| 2025 Value Projection: | 98 Billion (USD) |
| Historical Data for: | 2014 to 2018 |
| No. of Pages: | 132 |
| Tables, Charts & Figures: | 193 |
| Segments covered: | Product, Distribution Channel and Region |
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For instance, The Mainland china Certification and Accreditation Administration (CNCA) canonical the auction to only 94 brands amid over 800 strange brands. In add-on, the costs associated with the product manufacturing and higher technology usage in the market will be the major barriers for new entrants. Besides, limited product awareness in rural regions of Asia Pacific and Africa will limit the infant formula market growth to some extent in virtually hereafter.
Marketplace, By Product
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Follow-on production segment accounted for over forty% market share in 2018 and is forecasted to grow at a pregnant CAGR over the forecast timespan. 0–6 months infants are highly dependent on chest feeding, after the 6th month, usage of follow-on infant formula acts as exchange to breast milk. Toddler infant formula will be the fastest growing segment in the coming years.
Increasing wellness sensation, changing lifestyle, and increasing disposable income of people in emerging economies will drive the infant formula market share in adjacent few years. Specialty production segment was having the lowest market place share in 2018 and will moderate CAGR during the forecast period due to the depression product usage in age group above 3 years.
Market place, By Distribution Channels
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Supermarkets accounted a major market place share in the global baby nutrient market in 2018 and projected to abound with highest CAGR in near time to come. Increasing supermarket penetration beyond the world and rising production presence on online platform volition have positive impact on the infant formula marketplace growth in the coming years. Quickly growing e-commerce industry will create more growth avenues for product over the forecast menstruation.
The wide multifariousness of products, real time shopping feel and budget pricing has been attracting varied strata of society from by several years. Production manufacturers and distributors are competing to catch the top spots in supermarket shelves to get more eyeball and increase conversion ratio.
Hypermarket was 1 of the major distribution channels in 2018 and will expand with a prominent CAGR during the forecast period. Heavy discounts offered by hypermarkets was major attribute behind its growing penetration across the globe.
Market, By Region
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Asia Pacific infant formula market shall feel significant growth during the forecast timespan. Cathay was the largest production consumer in 2018 and shall remain the largest over the forecast duration. Abandonment of the one-child policy by Mainland china volition accept positive influence on the Asia Pacific market place during forecast timeframe.
Europe held a prominent share in infant formula market in 2018 and forecast to abound with a 9.viii% CAGR during the forecast period. European market is growing at a relative ho-hum pace compared to Asia Pacific due to comparatively low birth charge per unit. In addition, high baby health awareness and several initiatives to propagate mothers breastfeeding shall hamper the infant formula need over the forecast timespan.
Competitive Market Share
The infant formula industry has seen substantial consolidation, some multinational giants such as Nestlé, Abbott, Danone and Mead Johnson are belongings major market share in global marketplace. This can be attributed to the stiff brand identity and large multinational distribution network. Nestlé and Danone dominate in all four infant formula categories, Abbott and Reckitt Benckiser possess their relative strength in the standard and follow-on product categories.
Other regional producers operating in the industry include Perrigo Nutritionals, Arla Nutrient Ingredients, Hero Group, HiPP, Otsuka Pharmaceutical Co. Ltd, Bubs Australia, etc. Major players operating in the manufacture are involved in the merger and acquisition strategy to increment the customer base and marketplace presence.
Industry Background
Baby formula is primarily composed of lactose/ sugar, dried skim milk and refined vegetable oil. It is ane of the highly regulated food segments and requires specific manufacturing capabilities and quality assurance. Production is gaining popularity among masses attributable to increasing working class women beyond the globe. It is used to satisfy the nutritional needs of infants. They are classified according to the age of babe. Production categories includes standard infant formula for 0-half dozen months, follow-on infant formula for 6-12 months, toddler infant formula for 1-iii years and a specialty babe formula category roofing products such as hypo-allergenic-, lactose-free- and anti-reflux formulas for all ages.
Infant formula market report includes in-depth coverage of the manufacture,with estimates & forecast in terms of volume in Tons and revenue in USD one thousand thousand from 2019 to 2025, for the following segments:
By Product
- Standard
- Follow-on
- Toddler
- Specialty
By Distribution Aqueduct
- Hypermarket
- Supermarket
- Convenience store
- Online
- Others
The in a higher place information is provided on a regional and state basis for the following:
Past Region
- Northward America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italia
- Russia
- APAC
- China
- India
- Japan
- Australia
- Republic of indonesia
- Malaysia
- South korea
- Thailand
- Vietnam
- LATAM
- Brazil
- Mexico
- MEA
- Due south Africa
- Kingdom of saudi arabia
- UAE
Source: https://www.gminsights.com/industry-analysis/infant-formula-market
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