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The infant nutrition market is segmented by product (infant formula and baby food), and geography.
Fastest Growing Market:
The global infant nutrition market is estimated to witness a CAGR of 5.9%. 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 healthy growth observed in the number of young working mothers in different jobs and feeding infants. This has worked as a primary 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. These factors, overall, boost the growth of infant nutrition market.
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.
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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 good growth over 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, some parents prefer to prepare the baby’s food by themselves, 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.
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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, for 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.
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There are stringent regulatory scenarios that create high entry barriers for new entrants in the market. With that, there is significant investment needed in the R&D sector, which makes the small companies to be acquired or work in pratnership with big players, which is overall highly beneficial to the market studied. for example collaboration between companies to imporve the human milk oligosaccharides. Some of the companies which are currently dominating the market are Abbott Laboratories, Baby Gourmet Foods Inc., Bellamy's Australia Limited, Danone S.A., FrieslandCampina, Reckitt Benckiser (Mead Johnson), Nestlé S.A.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Working Mothers Population
4.2.2 Higher Spending on Baby Health
4.2.3 Rising Demand for Organic Baby Food
4.3 Market Restraints
4.3.1 Concerns Regarding Food Safety
4.3.2 Stringent Regulation for Infant Food
4.4 Industry Attractiveness Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Infant Formula
18.104.22.168 First Infant Formula
22.214.171.124 Follow-on Formula
126.96.36.199 Growing-up Formula
188.8.131.52 Specialty Baby Formula
5.1.2 Baby Food
184.108.40.206 Prepared Food
220.127.116.11 Dried Food
18.104.22.168 Other Baby Foods
5.2.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.2.3 Asia Pacific
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.2.4 Middle-East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
5.2.5 South America
126.96.36.199 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Baby Gourmet Foods Inc.
6.1.3 Bellamy's Australia Limited
6.1.4 Danone S.A.
6.1.6 Reckitt Benckiser (Mead Johnson)
6.1.7 Nestlé S.A.
6.1.8 Perrigo Company Plc
6.1.9 Parent's Choice Infant Formula
6.1.10 The Kraft Heinz Company
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments