Global Infant Formula Market Size, Insights, Drivers, Opportunities, By Product (Infant Milk, Follow On Milk, Growing Up Milk, Specialty Milk), By Sales Channel (Hypermarkets & Supermarkets, Pharmacies, Online), By Region, Growth, Trends And Forecast From 2019 to 2027
Global Infant Formula Market Size, Insights, Drivers, Opportunities, By Product (Infant Milk, Follow On Milk, Growing Up Milk, Specialty Milk), By Sales Channel (Hypermarkets & Supermarkets, Pharmacies, Online), By Region, Growth, Trends And Forecast From 2019 to 2027
Historic years: 2015 to 2017 Base Year: 2018 Forecast Years: 2019 to 2027
Number of pages: 100 Category: FnB Report Id: MISFnB5006
Market Insights
The global infant formula market was valued at USD 49.40 billion in 2018 and is estimated to reach a value of USD 115.59 billion in 2027. The market is analyzed to rise at a CAGR of 9.91% over the forecast period of 2019 to 2027. The rise in the number of working population has driven the demand for the infant formula market. The rise in demand is also anticipated by the content of nutrients found in the infant formula similar to the content found in the breastfeeding milk. The factors such as rise in disposable income and the changes in lifestyle have contributed to the growth of the market.Global infant formula market size by region, 2018 (USD Billion)
Primary and secondary researchers have identified Nestle, Danone, Abbott and Mead Johnson as the top players in the global infant formula market. The top four players in the industry contribute for more than 45% share in the infant formula market. However, considering about the analysis of this segment, factors like company revenue, industry trends towards selecting a particular group and penetration of the infant formula manufacturers are being considered.
The constant product innovations from the manufacturers in the market have been driving the growth of the industry over the forecast period. The rise in the premium infant formula products has been fueling the demand of the consumers towards the quality products. The market is also benefited by the demands of the probiotic products for the infants in the world. The rise in the birth rates along with the urbanization leading to the hectic lifestyle has increased the demand for the products in the industry.
Product Insights
Infant milk product type is estimated to be the largest segment holding a share of about 30.14% share. In 2018, the milk product category was estimated to be USD 15.84 billion and is expected to reach USD 35.85 billion in 2027 with a CAGR of 9.50% over the period of 2019 to 2027. Infant milk product type continues the dominance due to its prescription from the physicians containing an exact nutrient content for its product. It is also driven by the convenience of the product for the prevention of various diseases after being used as a probiotic product.Sales Channel Insights
Pharmacies segment is the largest segment and is expected to grow at a CAGR of 9.51% over the forecasted period of 2019 to 2027. The recommendation of the product from the physicians makes it to drive the market demand from the pharmacies. The rise in the ecommerce channels and the online recommendations observed in the online segment anticipates being a fastest segment with a CAGR of 14.89% over the forecast period.Global infant formula market value share by sales channel, 2027 (%)
Regional Insights
As of 2018, Asia Pacific accounts for the largest share in the market, with a share of over 55.83% of the global market. The rise in the labor force female population along with the rise in the disposable income of the consumers in the developing countries such as China, India, Indonesia, Philippines, and South Korea provides the product, a reasonable demand from the global market. China dominates the global market for the infant formula due to the rise in the birth rate and the disposable income for consumers in the country. The report is a thorough study which includes top companies, their annual presentations, industry publications, press releases and their drivers, opportunities, trends and the product understanding through different modes (Product, Sales Channel, and Regional analysis) with growth factors and future expectancies in the Infant Formula segment.Research Methodology
The following report consists of market analysis including both primary and secondary research. Primary research comprises the interaction between manufacturers, industry experts and channel partners, while the secondary research presents an analytical interpretation of relevant publications which contains details like proprietary databases, purchased database, company annual reports, and financial reports. For single, team and corporate user license, we will provide 15% free customization of the report. However, alternatively, if you are looking for additional data or insight related to the scope of the report, you may purchase the "Customized Research License". Please put an enquiry for the pricing details.Segments covered in the report
Product Outlook- Infant Milk
- Follow on Milk
- Growing up Milk
- Specialty Milk
- Hypermarkets & Supermarkets
- Pharmacies
- Online
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- U.K
- Italy
- France
- Spain
- Russia
- Asia Pacific
- China
- Japan
- India
- Central & South America
- Brazil
- Middle East & Africa
- All market drifts, drivers and opportunities
- Understanding the dynamics of the parent market
- Prime fluctuations of the business dynamics
- Historical, current, and projected size of the market with respect to production and sales
- Segmentation and comprehensive analysis in the second or third level
- Reporting and evaluation of recent industry developments
- Detailed profiling of leading companies
- Opportunities to newer trends in global, regional and country markets
- Analyzing the trajectory line of the business
- Measures to consider for infant formula products in the industry