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Infant Nutrition Global Market Report 2023
Major players in the infant nutrition market are Abbott Laboratories, Bellamy’s Australia Limited, Danone SA, Royal FrieslandCampina NV, Reckitt Benckiser, Nestlé SA, Perrigo Company PLC, The Kraft Heinz Company, Dana Dairy Group Ltd.
New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Infant Nutrition Global Market Report 2023" - https://www.reportlinker.com/p06479714/?utm_source=GNW
, Baby Gourmet Foods Inc., Parent’s Choice Infant Formula, Meiji Group, Synutra International Inc., HiPP GmbH & Co. Vertrieb KG, and Glanbia Plc.
The global infant nutrition market is expected to grow from $32.06 billion in 2022 to $35.29 billion in 2023 at a compound annual growth rate (CAGR) of 10%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The infant nutrition market is expected to reach $49.55 billion in 2027 at a CAGR of 8.8%.
The infant nutrition market consists of sales of growing-up milk, powder, liquid concentrate, and ready-to-feed formula.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Infant nutrition refers to the essential nutrition for a child’s ongoing health from birth till adulthood. It is used to give infants the nourishment and energy they require to stay healthy.
North America was the largest region in the infant nutrition market in 2022, and is expected to be the fastest-growing region in the forecast period. The regions covered in infant nutrition report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of infant nutrition are infant milk formula, follow-on-mil, specialty baby milk, prepared baby food, and other types.Infant milk formula refers to the type of baby food that is designed to provide complete nutrition for infants who are not breastfed or are partially breastfed.
It is used as a powdered or liquid product that is formulated to fulfil the nutritional composition of breast milk, including protein, carbohydrates, fats, vitamins, and minerals. The various meals of infant nutrition include baby cereals, baby snacks, baby drinks, and other baby meals that are distributed through hypermarkets/supermarkets, pharmacy/medical stores, specialty stores, and other distribution channels.
The increasing birth rate is expected to propel the growth of the infant nutrition market going forward.The birth rate refers to the proportion of live births to the general population per 1,000 people each year.
The evolution of infant care food have attributed to rising family income levels and the rising birth rate, where consumers are always concerned about their kid’s health and hygiene and prioritize high-quality items, resulting in the growth of the infant nutrition market. For instance, in July 2022, according to the 27th edition of the World Population Prospects, published by the United Nations, a US-based intergovernmental organization, the US birth rate reached 12.012 births per 1000 people, in 2022, increased by 0.18% from 2019, and 0.09% from 2020 respectively. Therefore, the increasing birth rate will drive the growth of the infant nutrition market.
Product innovation is a key trend gaining popularity in the infant nutrition market.Major companies operating in the infant nutrition market are focusing on product innovation to sustain their position in the market.
For instance, in July 2022, Danone, a France-based, food and beverage manufacturing company, engaged in early life nutrition, medical nutrition, and plant-based products manufacturing, launched a brand-new Dairy & Plants Adapt baby formula to parents’ preferences for foods that are primarily plant-based.It is the first blended infant formula for healthy infants, with 60% of the protein derived from plants.
Along with the 60% plant-based protein, it combines, DHA, an omega-3 fatty acid, vegetable oil, and fibers, all obtained from a plant source.
In January 2021, Hero Group, a Switzerland-based, infant food manufacturer company, acquired Baby Gourmet for an undisclosed amount.Together with the Hero Group, the acquisition will increase Baby Gourmet’s nutrient-dense, all-natural, and organic presence in North America.
Slammers Snacks, a U.S. kid’s snack brand made with organic ingredients, is also included in the deal. Since making that purchase, Hero Group has expanded its selection to include cereals and organic snacks. Baby Gourmet is a Canada-based company engaged in the manufacturing of organic food products for infants.
The countries covered in the infant nutrition market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The infant nutrition market research report is one of a series of new reports that provides infant nutrition market statistics, including infant nutrition industry global market size, regional shares, competitors with an infant nutrition market share, detailed infant nutrition market segments, market trends and opportunities, and any further data you may need to thrive in the infant nutrition industry. This infant nutrition market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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