Global Infant Nutrition Market Size To Exceed USD 102.48 Billion By 2033 | CAGR Of 7.66%
Category: Food & BeveragesGlobal Infant Nutrition Market Size To Exceed USD 102.48 Billion By 2033 | CAGR Of 7.66%
According to a research report published by Spherical Insights & Consulting, the Global Infant Nutrition Market is Expected to Grow from USD 49.01 Billion in 2023 to USD 102.48 Billion by 2033, at a CAGR of 7.66% during the forecast period 2023-2033.
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Browse key industry insights spread across 211 pages with 110 Market data tables and figures & charts from the report on the "Global Infant Nutrition Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Follow-on Milk, Specialty baby milk, Infant Milk, Prepared baby food, and Dried baby food), By Form (Solid baby food and Liquid baby food), By Distribution Channel (E-Commerce and Offline channel [Pharmacy, Convenience Stores, Hypermarkets/Supermarkets, Others]), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033. " Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/infant-nutrition-market
The infant nutrition market is defined as the sector engaged in manufacturing and selling nutritional products that cater exclusively to infants, generally from birth to 12 months old. Infants need a sufficient quantity of food items that supply all the nutrients supplied in breast milk which assists in proper growth and development. Infant nutrition serves as a substitute for breast milk. Optimal nutrition is very crucial for babies during their developing age. Moreover, as parents gain more information on the significance of infant nutrition, they look for quality, safe, and nutritionally fortified products for their infants. These include added vitamins, added minerals, probiotics, DHA, and other nutrient-added formulas for proper development. The growth in online platforms and e-commerce outlets has increased access to infant nutrition products for parents, especially where conventional retail outlets are scarce or less accessible. Online shopping for baby food, formulas, and supplements has further fueled the market. However, specialized products for infant nutrition, including organic formulas, hypoallergenic products, or specialized formulas, may be priced at a premium. This price differentiation from regular products limits accessibility to lower-income families and restricts potential market share in developing areas or among price-sensitive consumers.
The infant milk segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the product type, the infant nutrition market is divided into follow-on milk, specialty baby milk, infant milk, prepared baby food, and dried baby food. Among these, the infant milk segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The segmental growth is due to increased parental sensitivity to the best infant diet and ease in giving formula feeds. Ongoing product development in baby formula with products that closely mimic the diet in breast milk attracts consumers looking for specialist and high-quality products. Changing lifestyles, such as the increased number of working mothers and the existence of nuclear families, propel the use of infant milk formula as a convenient way of feeding.
The solid baby food segment accounted for the majority share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the form, the infant nutrition market is divided into solid baby food and liquid baby food. Among these, the solid baby food segment accounted for the majority share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The growth is driven by powdered infant formulas providing more convenience and mobility compared to liquid forms, hence their popularity among on-the-go parents or individuals who enjoy flexibility in preparation. Powdered formulas are also typically cheaper than ready-to-feed or liquid concentrates, which appeals to price-sensitive consumers.
The E-commerce segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the distribution channel, the infant nutrition market is divided into e-commerce and offline channels. Among these, the E-commerce segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is attributed due to E-commerce is convenient for buying from home, especially valuable to busy parents. Online retailers such as Amazon, baby food boutiques, and other online retail sites provide an enormous range of baby food and formula products with subscription plans and home delivery. It offers deals, discounts, and promotional offers, which also attract a large number of consumers.
North America holds the majority share of the global infant nutrition market during the forecast period.
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North America holds the majority share of the global infant nutrition market during the forecast period. North American consumers are more interested in high-end and organic baby nutrition products. They are slowly shifting to more natural and clean-labeled foods that deliver value-added benefits, such as probiotics and DHA for health and development, resulting in greater demand for premium quality infant formulas. North American healthcare infrastructure, unlike other regions, is developed in a way that gives utmost importance to infant nutrition, health, and welfare. In this region, healthcare systems, pediatricians, and hospitals frequently recommend premium and specialized infant nutrition products, fostering a great demand in the market.
Asia Pacific is estimated to grow at the fastest pace in the global infant nutrition market during the forecast period. This is due to an increasing number of births and a rising population of employed women. The synergy of high fertility rates in certain APAC nations and increasing urbanization drives a large and growing consumer market for infant nutrition products.
Major vendors in the global infant nutrition market are Nestlé, Walgreen Co., Nutricia, Abbott, The Hain Celestial Group, Holle Baby Food AG, China Mengniu Dairy Company Limited, Perrigo Company plc, The Kraft Heinz Company, DANA DAIRY GROUP, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In August 2023, US-based ByHeart launched its first retail product in the form of an easy-to-digest newborn formula meant for sale at Target stores across the country, with qualities that are clinically proven and certified-clean ingredients. Besides this, the company has also stated that it will be soon bringing back its products directly to consumers through its Byheart.com portal later this year.
- In April 2023, Danone announced that they are expanding the scope of their nutrition portfolio in Poland with the acquisition of ProMedica.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the infant nutrition market based on the below-mentioned segments:
Global Infant Nutrition Market, By Product Type
- Follow-on Milk
- Specialty baby milk
- Infant Milk
- Prepared baby food
- Dried baby food
Global Infant Nutrition Market, By Form
- Solid baby food
- Liquid baby food
Global Infant Nutrition Market, By Distribution Channel
- E-Commerce
- Offline channel
- Pharmacy
- Convenience Stores
- Hypermarkets/Supermarkets
- Others
Global Infant Nutrition Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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