Infant Formula Ingredients Global Market Report 2023: Focus on Infant Care and Nutrition is Expected to Drive the Market

NEWARK, DELAWARE, UNITED STATES, August 31, 2023/EINPresswire.com/ -- During the forecast period, the infant formula ingredients market is expected to expand at a CAGR of 6.3%. Beginning the forecast period in 2023 with a market value of US$ 42,645 million, it is likely to reach a valuation of US$ 78,818.9 million by 2033.

Because of its nutritious composition, Future Market Insights anticipates an incredible increase in demand for infant formula ingredients. It is also the breastfeeding substitute that many prefer the most. Globally, the market is also experiencing tremendous growth as working mothers with young children convert to infant formula to accommodate their hectic schedules.

The market's expansion can be attributed to the increase in sales of the components used in infant formula, which provide nutrients found in soymilk, cow's milk, and protein hydrolysates as a substitute for women's breast milk.

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Key Takeaways:

The United States holds a significant market share of 18.9% in the infant formula market, highlighting its strong presence and leading position as a major consumer and producer of infant formula products.

Germany maintains a notable market share of 8.6% in the infant formula market, emphasizing its significant contribution and role in providing high-quality and nutritious infant formula options to meet the needs of infants and their families.

Japan accounts for 6.9% of the market share in the infant formula industry, showcasing its importance as a key player in the market and its commitment to offering reliable and quality infant formula products.

Australia contributes to the infant formula market with a market share of 3.5%, underscoring the country's role in providing safe and nutritious infant formula options for the well-being of infants and their development.

China experiences a compound annual growth rate (CAGR) of 6.3% in the infant formula market, indicating a steady growth trajectory and increasing demand for infant formula products driven by factors such as population growth, urbanization, and rising disposable incomes.

India demonstrates a robust CAGR of 9.7% in the infant formula market, highlighting the country's expanding consumer base, growing awareness about infant nutrition, and rising demand for high-quality and nutritious infant formula products.

The United Kingdom showcases a CAGR of 7.6% in the infant formula market, reflecting its sustained growth and continuous efforts to provide safe and reliable infant formula options, meeting the changing needs and preferences of parents and caregivers.
Competitive Landscape:

The leading suppliers of infant formula ingredients are found to be engaging in aggressive business practices such as several mergers and acquisitions, capital expansion, and strategic alliances. Leading businesses are also bringing their focus to boosting the productivity of their companies through technological innovation and increasing the share of their sector. Manufacturers who are active in the infant formula ingredients market are also constantly working on research and development to create products that meet consumer demands.

The following are the actions taken by some leading companies in the market:

In February 2018, Arla Foods announced its plans to invest £70 million in the United Kingdom, as a part of its strategy to secure long-term opportunities for its farmers all over Europe.

In April 2022, Kerry Group acquired Natreon, Inc., a United States-based supplier of branded Ayurvedicbotanical ingredients.

Some other leading players in the market are:

Co-operative Group Limited
AAK AB
Royal Friesland Campina N.V.

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Key Segments in the Infant Formula Ingredients Market:

By Ingredient Type:

Fats & Oils
Minerals
Proteins
Vitamins
Carbohydrates
Prebiotics
Others (Probiotics, Nucleotides, and Emulsifiers)

By Source:

Soy
Protein hydrolysates
Cow Milk
Others (Goat milk and camel milk)

By Application:

0 to 6-month-old infants
6 to 12-month-old infants
Infants over 12 months
Specialty Formula

By Form:

Powder
Liquid & semi-liquid

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

Explore FMI’s related ongoing Coverage in the Food and Beverage Market Domain:

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Crab Meat Market: This is expected to reach a market valuation of US$ 879.2 million by 2023. Sales are expected to register a CAGR of 4.7% and are expected to reach a valuation of US$ 1,516.1 by 2033.

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

Contact Us:

Future Market Insights Inc.
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Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705

Ronak Shah
Future Market Insights, Inc.
+1 845-579-5705
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