Infant Nutrition Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by product (infant formula and baby food), and geography

Market Snapshot

Infant Nutrition Market Image 1
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

North America

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The global infant nutrition market was valued at USD 71.40 billion in 2018 and is estimated to reach USD 98.90 billion in 2024, witnessing a CAGR of 5.58%. There are certain factors propelling the growth of the market, which include the increase in working mother population, higher spending on baby health, and the rising demand for organic baby food.

At present, parents are found spending more on their babies compared to the previous years, owing to several social factors. Presently, children are deemed more worthy of protection than they used to be. According to a number of surveys, parents spend a high amount of money on their babies, sometimes out of guilt, out of shame, or out of social anxiety.

Over the recent years, there has been a remarkable rise that has been observed in the number of young working mothers. This has worked as a key factor in propelling the growth of the infant food nutrition market, as these working mothers are majorly dependent on processed infant nutrition products. Therefore, organic food has been observed to be one of the fastest-growing sectors in the food industry overall, experiencing double-digit growth in most developed markets, compared with a single-digit growth rate for conventional food products. The global demand is increasing, owing to factors, such as the desire of parents to feed their babies healthier foods.

In addition, factors, such as the growth of the middle class, rapid urbanization, and rising rates of female participation in the labor force in many developing markets have encouraged the adoption of convenience-oriented lifestyles, further making prepared baby foods and baby formula more desirable. The increasing middle-class population in the emerging and developing countries has opened new horizons in the infant nutrition market, owing to the fact that the need for products, compatible with a working mom’s schedule, is growing.

In the next few years, it is expected that the global infant nutrition market will show healthy growth. In the last few years, the sale of infant nutrition products in developed countries has shown a single-digit growth rate.

Scope of the Report

Infant nutrition is a substitute food for breast milk. The initial six months after birth plays a very crucial role in the development of a child, wherein ensuring optimal nutrition during this period is of paramount importance. Breast milk is highly nutritious and contains carbohydrates, proteins, fats, minerals, and vitamins imperative for the development of the child. However, in certain cases, the mother may not be able to produce breast milk or may not be able to breastfeed the baby due to other reasons. In such cases, infant nutrition products act as a suitable substitute.

By Product
By Infant Formula
First Infant Formula
Follow-on Formula
Growing-up Formula
Specialty Baby Formula
By Baby Food
Prepared Food
Dried Food
Other Baby Foods
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Prepared Food is Expected to hold its Highest Market Share in the Baby Food Segment

In the product type segmentation of the infant nutrition market, the prepared food sub-segment under the baby food segment is believed to have the largest market size and is expected to witness a CAGR of 6.51% during the forecast period.

The market size of the baby food segment can be attributed to the current busy lifestyle of people and the emergence of a variety of organic and healthy food for infants. The extensive sale of prepared food is mainly attributed to its ease of access. As the manufacturers of prepared food, most companies are now coming up with more organic food products, which is free from preservatives and residues of fertilizers and pesticides. However, there are also some parents who prefer to prepare the baby’s food by themselves, so as to be assured of hygiene and nutrition.

Therefore there is also a demand for the dried food that is on a rise, majorly due to the increasing trust of parents upon the quality of food, which is provided by the companies and increasing improvisation that is continuously being done in the food products by the manufacturers. There are other baby foods segment of the market majorly inclusive of the juices and products that are rich in omega-3 DHA and arachidonic acid (ARA), along with other nutritional products.

Infant Nutrition Market Image 3

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North America is expected to witness the highest CAGR throughout the forecast period

The presence of high per capita healthcare expenditure, coupled with high awareness levels and rising disposable income, is contributing to the growth of the market in the region. The average age at which American women are giving birth has been rising as young women are increasingly prioritizing their careers over family planning. Hence, a rise in parental concerns, with respect to baby's health and nutrition, is driving the growth of the North American regional market. There are also consumers, especially in the developed countries, who are willing to pay for premium amounts for such products, owing to the general perception of these products being more healthy and safe as compared to conventional products.

Image3_Infant Nutrition Market

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Competitive Landscape

There are stringent regulatory scenarios that create high entry barriers for new entrants in the market. As per the data of the China Certification and Accreditation Administration (CNCA), after implementation of quality and safety standards in 2013, out of over 800 foreign brands selling their product of infant formula, only 94 have received approval to sell their products in China, while only two-thirds of the local Chinese manufacturers have received production permit renewals.

Major Players

  1. Abbott Laboratories
  2. Danone S.A.
  3. Nestlé S.A.
  4. Baby Gourmet Foods Inc.
  5. Reckitt Benckiser (Mead Johnson)

* Complete list of players covered available in the table of contents below

Image4_Infant Nutrition Market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increase in Working Mothers Population

      2. 4.2.2 Higher Spending on Baby Health

      3. 4.2.3 Rising Demand for Organic Baby Food

    3. 4.3 Market Restraints

      1. 4.3.1 Concerns Regarding Food Safety

      2. 4.3.2 Stringent Regulation for Infant Food

    4. 4.4 Industry Attractiveness Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 By Infant Formula

        1. 5.1.1.1 First Infant Formula

        2. 5.1.1.2 Follow-on Formula

        3. 5.1.1.3 Growing-up Formula

        4. 5.1.1.4 Specialty Baby Formula

      2. 5.1.2 By Baby Food

        1. 5.1.2.1 Prepared Food

        2. 5.1.2.2 Dried Food

        3. 5.1.2.3 Other Baby Foods

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

      2. 5.2.2 Europe

        1. 5.2.2.1 Germany

        2. 5.2.2.2 United Kingdom

        3. 5.2.2.3 France

        4. 5.2.2.4 Italy

        5. 5.2.2.5 Spain

        6. 5.2.2.6 Rest of Europe

      3. 5.2.3 Asia Pacific

        1. 5.2.3.1 China

        2. 5.2.3.2 Japan

        3. 5.2.3.3 India

        4. 5.2.3.4 Australia

        5. 5.2.3.5 South Korea

        6. 5.2.3.6 Rest of Asia-Pacific

      4. 5.2.4 Middle East & Africa

        1. 5.2.4.1 GCC

        2. 5.2.4.2 South Africa

        3. 5.2.4.3 Rest of Middle East & Africa

      5. 5.2.5 South America

        1. 5.2.5.1 Brazil

        2. 5.2.5.2 Argentina

        3. 5.2.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 Baby Gourmet Foods Inc.

      3. 6.1.3 Bellamy's Australia Limited

      4. 6.1.4 Danone S.A.

      5. 6.1.5 FrieslandCampina

      6. 6.1.6 Reckitt Benckiser (Mead Johnson)

      7. 6.1.7 Nestlé S.A.

      8. 6.1.8 Perrigo Company Plc

      9. 6.1.9 Parent's Choice Infant Formula

      10. 6.1.10 The Kraft Heinz Company

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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