Shibuya-ku, Tokyo, Japan, Japan, Jun 27, 2022, 13:13 /Comserve / -- Infant Nutrition Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The infant nutrition market was valued at approximately USD 79,416 million in 2020, and it is expected to reach USD 132,352 million, registering a CAGR of nearly 9% during the forecast period.
The rising cases of COVID–19 are expected to have a short-term negative impact on the export-import of the nutrition sector. The short-term impact on the nutrition segment is less prominent; however, the negative impact of COVID-19 on the global economy can have significant indirect effects on the nutrition segment of the market. The healthcare facilities, such as market players and government, are investing heavily in maintaining the supply of essential nutrition and food. Most baby food manufacturers were found focusing on ramping up the production of baby food to ensure availability. The American Academy of Pediatrics (AAP) also recommended that during the COVID-19 pandemic, people should buy no more than 10 days to 2 weeks supply of formula to ensure the availability of formulas to everyone.
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Certain factors propelling the growth of the market include an increase in the working mother population, higher spending on baby health, and the rising demand for organic baby food.
Over recent years, there has been a remarkable increase in the young working mother population. This has worked as a key factor in propelling the growth of the infant nutrition market, as these working mothers are majorly dependent on processed infant nutrition products. For instance, in the United Kingdom, the number of working mothers has increased to one of the highest in recent decades. In 2019, the Office for National Statistics (ONS) of the United Kingdom published data on families and the labor market. The data revealed that the number of mothers in the labor market had grown substantially over the last two decades. As per the figures, 66.2% of mothers were in employment in 2000, which rose to 75.1% by 2019. The low wages and high cost of living in cities increased the number of women working to support their families. Therefore, this factor is playing a key role in driving the infant food nutrition market, as working mothers are primarily dependent on processed child nutrition products.
Key Market Trends
The First Infant Formula Sub-segment is Expected to Show High Growth over the Forecast Period
The first infant formula includes a formula for 0-6 months old babies. These products are available in liquid, powder, and ready-to-use formats, with dairy being the main ingredient over all types of products. They are recommended if breast milk is unavailable or to supplement the baby’s diet. The benefits offered by these products include the convenience of feeding, nutrient-rich formula, and the option of lactose- and soy-free milk versions, which make this a good option, especially for working women.
The rising COVID-19 pandemic and lockdown measures introduced to reduce the spread of COVID-19 resulted in a rapid change in circumstances for pregnant women, new mothers, and their infants. The global food and beverages industry is one of the major industries suffering due to the outbreak of COVID-19. These factors have severely affected the baby infant formula market. There was a huge loss found disrupting the sales of the market products, and market players were found investing heavily in maintaining the supply of essential nutrition and food to children.
North America is Expected to Witness High Growth Throughout the Forecast Period
The market in North America is expected to grow due to the increasing number of working women and the increasing demand for baby food. The presence of high per capita healthcare expenditure, coupled with high awareness levels and rising disposable income, is also contributing to the growth of the market in the region.
Due to the rising COVID-19 pandemic, there is a huge loss found disrupting the sales of infant nutrition products due to the lockdown. There are rising efforts to mitigate the transmission of COVID-19 that is disrupting food systems, upending health and nutrition services, devastating livelihoods, and threatening food security. However, the market players are found investing heavily in maintaining the supply of essential nutrition and food to children.
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Competitive Landscape
Some of the companies currently dominating the market studied are Abbott Laboratories, Baby Gourmet Foods Inc., Bellamy's Australia Limited, Danone SA, Royal FrieslandCampina NV, Reckitt Benckiser (Mead Johnson), and Nestlé SA. The market players resort to various strategic initiatives such as new product launches, mergers, and acquisitions to strengthen their foothold in the market and expand their product offerings. For example, in February 2020, United Kingdom-based baby food brand Piccolo entered into the infant nutrition milk sector by launching three new products: Organic First Infant Milk, Organic Follow-On Milk and Organic Growing Up Milk.
There are also stringent regulatory scenarios that create high entry barriers for new entrants in the market studied. Moreover, there is a significant investment needed in the R&D sector, which makes small companies be acquired or work in partnership with big players, which is highly beneficial for the market studied.
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Working Mother Population
4.2.2 Higher Spending on Infant Health
4.2.3 Rising Demand for Organic Baby Food
4.3 Market Restraints
4.3.1 Concerns Regarding Food Safety
4.3.2 Stringent Regulations for Infant Food
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
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