Urbanization has enabled mothers in this region to join workforce post giving birth, creating demand for infant formula and thus driving the demand for infant formula ingredients. Additionally, some mothers unable to lactate; in such cases, infant formula is the most suited alternative available in the market.
The infant formula ingredients market is estimated to be valued at USD 16.7 billion in 2019 and is projected to grow at a CAGR of 7.3% from 2019, to reach a value of USD 25.5 billion by 2025. Rise in the number of women joining workforce post giving birth, the inability of mothers to lactate, and parents seeking additional sources of nutrition for their babies are among the key factors expected to boost sales of infant formula ingredients in the years to come. Apart from this, infant formula ingredients manufacturers have invested in R&D, which is further expected to drive the growth of the infant formula ingredients industry in the years to come.
Key Market Players
The key players in global market include AAK AB (Sweden), Fonterra Co-operative Group Limited (New Zealand), Carbery Food Ingredients Limited (Ireland), Royal Friesland Campina N.V. (Netherlands), Sachsenmilch Leppersdorf GmbH (Germany), BASF SE (Germany), Koninklijke DSM N.V. (Netherlands), Arla Foods amba (Denmark), Chr. Hansen Holdings A/S (Denmark), Kerry Group plc (Ireland), Lactalis Ingredients (France), Glanbia plc (Ireland), and Vitablend Nederland B.V. (Netherlands).
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Scope of the report
Based on Type, the market has been segmented as follows
Based on the Source, the market has been segmented as follows
Based on Application, the market for infant formula ingredients has been segmented as follows
Based on the Form, the market for infant formula ingredients has been segmented as follows
Based on the Region, the market has been segmented as follows
Asia Pacific is projected to be the fastest-growing during the forecast period.
Asia Pacific infant formula ingredients market is projected to be the fastest-growing during the forecast period. Countries such as China, Japan, and South Korea are expected to be key revenue generators during the next few years. The region has seen a rapid transformation in terms of urbanization. This has enabled women to join workforce post-delivery, making infant formula the only nearest substitute to breast milk for infants. Apart from this, China remains a key market for infant formula ingredient manufacturers as the country has one of the highest numbers of births at the global level. The country relies on imported infant formulas from European countries.
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The liquid & semi-liquid segment is projected to record the fastest growth during the forecast period.
Oils & fats are the most widely used liquid and semi-liquid ingredients for manufacturing infant formula. The liquid & semi-liquid segment is expected to exhibit high growth prospects in Asia Pacific. In Japan, liquid infant formulas are preferred owing to their convenience in emergencies such as natural disasters that frequently occur in the country.
The growing-up formula (12 months & above) segment is projected to record the fastest growth during the forecast period.
The growing-up milk (12 months & above) contains calcium, vitamin D, and iron, and mostly serves as a part of a balanced diet for infants. Given during the transition phase from infant nutrition to family food, manufacturers offering infant formula for this particular age group are expected to witness high growth prospects, especially from Asia Pacific.
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