Global Baby Specialty Milk Formula Market at a CAGR of 8.2% Over the Forecast Period
The demand for special formula for babies, infants and young children with special dietary needs is very strong across all regions.
New York, United States – July 31, 2018 /MarketersMedia/ —
The global baby specialty milk formula market is segmented by age group into new born (0-3 months), infant (3-12 months) and toddler (1-3 years). Among these segments, infant (3-12 months) segment grabbed major shares of market in previous years and is expected to witness considerable growth over the forecast period. The rise in occurrence of diseases such as flatulence, colic, bloating or constipation in infants is a major factor that is expected to drive the growth of this segment in near future.
Global baby specialty milk formula market is expected to register a notable CAGR over the forecast period. Moreover, the global market is projected to grow on the back of factors such as rapid urbanization along with increasing demand for specialty milk formula due to rising health related concerns among infants. Further, the demand for special formula for babies, infants and young children with special dietary needs is very strong across all regions. There are many varieties of specialty milk formulas developed for infants with special medical conditions. The parents are adopting such formulas to fulfill nutrition needs of their babies.
The North America grabbed major shares of global baby specialty milk formula market in 2016. Increasing infant healthcare concerns and swelled disposable income in the region are two major factors that have been driving the growth of baby specialty milk formula market in North America over the past few years. In addition to this, the use of baby specialty milk formulas in U.S. among prematurely born children is very strong. In 2016, about 1 in 10 babies was born too early in the United States. High birth rate of premature babies in North America is expected to enhance the growth of baby specialty milk formula market in upcoming years.
Rising Health Concerns
Increasing health consciousness for infants and growing woman workforce are some of the key growth drivers which are substantially raising the demand for baby specialty milk formula all across the globe. Apart from this, increasing awareness about the specialty milk formula and its benefits in the developing region is expected to drive the market of baby specialty milk formula.
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Government Initiatives and Support
According to the World Bank, the percentage of women in the workforce grew amazingly between 1990 and 2016. Since large number of working mothers are returning to their jobs very shortly after giving birth, the adoption of prepared baby foods and formulas nutritious foods are also increasing in order to fulfill the nutrition needs of babies. Further, growing women participation in labor force is also a major factor that is expected to escalate the growth of market in upcoming years.
Although, government initiatives to spread awareness about breastfeeding is expected to restrain the growth of global baby specialty milk formula.
The report titled “Baby Specialty Milk Formula Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global Baby specialty milk formula market in terms of market segmentation by age group, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global Baby specialty milk formula market which includes company profiling of Perrigo Nutritionals, Nestle SA, Piermen B.V., Bebelan Lacta Ltd., Abbott Laboratories, Danone Nutricia, Mead Johnson & Company, LLC. Savencia Fromage & Dairy, Abbott Laboratories and AptaNutrition. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Baby specialty milk formula market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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