Luton, Bedfordshire, United Kingdom, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Infant Formula Milk Powder Market.
The market for infant formula milk powder is anticipated to grow at a CAGR of 9.4% over the course of the forecast period, reaching US$ 46 billion by 2029.
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Infant Formula Milk Powder Market
Several global corporations provide infant milk powder to fulfil a substitute need for breastfeeding. The milk is evaporated using a variety of techniques, such as spray drying or drum drying. The main purpose of infant powder is to increase shelf life and preserve it for a longer period of time.
The market for Infant Formula Milk Powder has been expanding rapidly due to rapid urbanization and a rise in the number of working women. Due to their hectic schedules, people like items that are simple to prepare and can be consumed right away. This requirement has increased demand for newborn milk powder and sped up the Infant Formula Milk Powder Market's expansion. Additionally, as the middle class has grown in number and disposable income has increased, consumer expenditure on high-end, nutritionally dense items has increased. This has had a favorable influence on the newborn milk powder business.
Infant Formula Milk Powder Market: Impacting Factors
The other key reasons propelling the market globally are the attention and emphasis on newborns' nutritional demands that are expanding at the highest rate. The number of working moms and women has increased, and their discretionary expenditure has increased significantly. These factors have increased demand for infant nourishment items. Some of the contributing elements that might increase the demand for the product include the rising number of lactation cases, medicine, a lack of assistance and skilled breastfeeding specialists, unsupportive work regulations, and cultural standards.
Other key drivers propelling the Infant Formula Milk Powder Market globally include the attention and concentration that are paying the most attention to newborns' nutritional demands. Sales of infant feeding items have increased as a result of the rise in the number of working mothers and women, as well as the significant increase in their discretionary expenditure. Some contributing variables that may increase the demand for the product include the rising number of lactation cases, medicine, a lack of assistance and competent lactation specialists, unfriendly work rules, and cultural standards.
Infant Formula Milk Powder Market: Recent Development
- Nestle S.A. inaugurated a brand-new research facility in Ireland in January 2019. For the global Infant Formula Milk Powder Market, the center will concentrate on creating innovations in milk-based newborn and maternal nutrition products.
- Arla has decided to invest approx. 12 million euro in an upgrade of its AKAFA production site in Northern Denmark, which will allow it to add Infant Milk Formula (IMF) production to its existing powdered milk capacity. The investment will not require an expansion of the site but consists of an upgrade of relevant sections of the site to produce high-quality IMF.
| Revenue forecast in 2029 | USD 46 billion |
| Growth rate | CAGR of 9.4 % from 2022 to 2029 |
| Base year for estimation | 2021 |
| Historical data | 2017 - 2020 |
| Forecast period | 2022 - 2029 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Types, Application, Region |
| Regional scope | North America; Europe; China; Asia; Pacific; Central & South America; MEA |
| Country scope | U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Poland; Spain; India; Japan; Thailand; Malaysia; Indonesia; Vietnam; Singapore; Philippines; Brazil; Argentina; Saudi Arabia; UAE; Oman |
| Key companies profiled | Vitablend Nederland B.V., Royal Friesland Campina, Arla Foods amba, BASF SE, Glanbia plc, AAK AB, Fonterra Co-operative Group Limited, Others. |
Infant Formula Milk Powder Market Key Players
There are many companies competing for a prominent place in the fiercely competitive Infant Formula Milk Powder Market. In order to find unique formulations that serve to increase the nutritive content of the goods, the Infant Formula Milk Powder Market’s participants in baby formula milk powder are engaged in research and development efforts. The participants can increase their R&D activity thanks to investments from various companies and conglomerates.
Infant Formula Milk Powder Market Major Key Players include: - Vitablend Nederland B.V., Royal Friesland Campina, Arla Foods amba, BASF SE, Glanbia plc, AAK AB, Fonterra Co-operative Group Limited, Others.
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Infant Formula Milk Powder Market: Driving Factors
The global Infant Formula Milk Powder Market is propelled by positive demand dynamics like as low breastfeeding rates and fertility rates, which show an early reliance on breast milk substitutes. Additionally, promoting product expansion are customer modernization and changing lifestyles. Parents' desire for the product is being fueled by its convenience and improved composition.
Infant Formula Milk Powder Market growth is anticipated to be favorably impacted by the rising investment made by the major players in the research & development of novel products. For instance, Nestle S.A. inaugurated a brand-new research facility in Ireland in January 2019. For the global market, the center will concentrate on creating innovations in milk-based newborn and maternal nutrition products.
Infant Formula Milk Powder Market: Segmentation
By Type, it is segmented into
- Wet Process Type
- Dry Process Type
- Wet-Dry Composite Type
By Application it is segmented into
- First Class
- Second Class
- Third Class
Infant Formula Milk Powder Market: Regional Analysis
The largest Infant Formula Milk Powder Market in the world is in Asia Pacific. The regional market is anticipated to see a CAGR of 10.88% over the anticipated time frame (2022-2029). Strong demand resulting from high birth rates dominates the area market. The local industry's strong incentives and increased reliance on imports, together with the growing consumer demand for more expensive, higher-quality goods, have also contributed to the market's expansion. Another important factor contributing to the region's supremacy is the presence of China, which is one of the world's largest consumers of newborn and baby food products. Additionally, it is anticipated that China's decision to end its "one-child" policy and a rise in birth rates will have a good effect on the development of the Market.
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