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Infant Formula Market 2023 - Global Industry Size, Share, Growth,
Outlook, Analysis and Forecast - Credence Research
Report Description:
According to a new market research report published by Credence
Research “Infant Formula Market (Protein Source – Cow Milk Proteinbased, Soy-based, Hypoallergenic and Specialized Infant Formula) - Growth,
Share, Opportunities, Competitive Analysis and Forecast 2016 - 2023”, the
global infant formula market was valued at US$ 9.40 Bn in 2015 and is
estimated to expand with a CAGR of 6.7% from 2016 to 2023.
Browse the full report
at http://www.credenceresearch.com/report/infant-formula-market
Market Insights:
The infant formula market is highly driven by the rising ratio of females in
workforce worldwide. People are more inclined towards purchasing baby
care products that are convenient and also ensure baby nutrition. Thus,
further rise in female workforce may substantially fuel the market growth
especially in the developing economies. Another major factor propelling the
market growth is the rising discretionary income of people worldwide.
Manufacturers are more focused towards designing nutrition-rich products
and offering organic infant formula products. With the rising purchasing
power of people worldwide, such infant formula products are expected to
witness warm demand in the coming years.
However, major factor affecting the market growth is the regulations
supporting breastfeeding and controversies over infant formula products.
The market has been facing the hurdles of controversies over infant formula
products since several years. Organizations such as WHO and UNICEF
highly recommend and promote breastfeeding over its substitutes in order
to ensure infant health. Infant formula products are recommended only in
cases where breastfeeding is not possible. This acts as a major challenge for
the market.
Competitive Insights:
The global infant formula market is consolidated and regulated in nature
with a few major international players contributing to more than fifty
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percent of the total market revenue. The most significant concern for the
market players is to comply with the standards issued by various food
regulatory bodies worldwide. Thus, market players majorly compete upon
the quality of their products thereby designing nutritious infant formula
products causing no harm to the babies.
Apart from product development and brand-name, infant formula providers
focus on attractive packaging of their products. Attractive packaging plays
crucial role in case of baby products as it largely helps driving the
consumers. This makes attractive packaging is one of the most important
strategies adopted by the infant formula manufacturers. Another major
trend among the companies is the promotion of breastfeeding over infant
formula at least for the first six months of babies.
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Key Trends:
•Organic baby food products for better health
•High focus on quality in order to meet food standards
•Focus on India and China by launching price competitive products
•Online product promotion
•Brand-name promotion
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About Us:
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Credence Research is a worldwide industry research and counseling firm
that serves driving organizations, governments, non-legislative associations,
and not-for-benefits. We offer our customers some assistance with making
enduring enhancements to their execution and understand their most
imperative objectives. Over almost a century, we’ve manufactured a firm
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Our customers mirror our worldwide nature. Around 45% are in Europe,
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E-mail: [email protected] Ph: 1-800-361-8290
Web: http://www.credenceresearch.com
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E-mail: [email protected] Ph: 1-800-361-8290
Web: http://www.credenceresearch.com