Infant Formula Ingredients Market size is set to enter growth phase at a CAGR of 7.46% over the forecast period 2020-2026.
Based on the 2020-2026 forecasts, the infant formula ingredients market growth is driven by increase in consumption of prebiotic infant formula, high demand for premium infant nutrition products to overcome the prevailing deficiencies in infants and strong acceptance of infant formulas alternative to mothers’ feed, finds research analyst, M Hussain, OG Analysis.
Presence of calcium, vitamin D, and iron in 12 months & above age group mostly serves as a part of a balanced diet for infants. Key manufacturers are offering infant formula for 12 months & above age group amid key age groups and are exploring high growth prospects.
Furthermore, growing number of working women along with conditions of fast-paced lifestyle urging women to join workforce post-delivery thrust market growth opportunities for infant formula producers. In addition, the rise in sales of infant formula products with benefits of easy to consume and packaging innovations in infant formula are significantly driving the market growth.
Further, higher birth rates in emerging regions boost sales for infant formulas during the forecast term which directs to increase demand for infant formula ingredients market.
The emerging trends to exercise sale of infant formula products through e-commerce platform and the eco-friendly packaging of infant formula products in focus across the baby food sector boost growth opportunities for key market players operating in the infant formula market, finds Hussain.
However, lack of awareness & weak advertisement activities for important aids of infant nutrition in emerging nations is challenging the infant formula ingredients market growth through 2026.
With high consumption of prebiotic ingredients in infant nutrition with the potential of health benefits and immunity against infections, prebiotics segment other market set to emerge with robust growth during the forecast period
Further, the factors including resistance to gastrointestinal problems support in mineral absorption and lowering the tendency to become obese drive the prebiotic segment of the infant formula ingredients market.
Oils & fats are widely consumed as liquid and semi-liquid ingredients for manufacturing infant formula and are emerging with strong market growth prospects, in particular across emerging economies.
The ongoing problem of lactose intolerance level in infants for animal-sourced milk and soy-based formula drives the growth of the protein hydrolysate source segment across the infant formula ingredients market.
Furthermore, key infant formula ingredients manufacturers are involved in R&D activities to come up with protein hydrolysate based infant formulas ingredients boost the market value in the coming years.
The infant formula ingredients market growth across Asian countries is driven by presence of population pool, emerging key infant formula producers and vendors and strong consumption of infant formula products.
Furthermore, countries such as China, Japan, and South Korea are to be key infant formula ingredients market revenue generators over the next years, based on trends of rapid transformation in terms of urbanization which increases women workforce drives market growth.
Whereas, Europe and North America emerge with strong market growth driven by high healthcare spending, huge awareness about infant nutrition as well as availability of funds and government support for the production of infant formula ingredients across the region.
The key companies operating in the industry are investing to focus on innovation and launch of new infant formula products. For instance, in 2019, Arla Foods Ingredients launched an optimized comfort infant formula concept. Further, in 2018, FrieslandCampina DOMO launched its next-generation oligosaccharides for infant formula.
Further, manufacturers involved in the infant formula ingredients market are consistently engaged in joint-venture and partnership to launch new products in order to meet consumer expectations. For example, in 2019, the joint-venture firm consisting of Asahi Group Foods and Vietnam Nutrition Food JSC (Nutifood) launched its new range of infant and maternal formula products for the Vietnamese market. Also, in 2019, BASF and GlycoSyn entered into a partnership with a focus on the area of infant nutrition.
Key companies including AAK AB, Arla Foods amba, BASF SE, Carbery Food Ingredients Limited, Chr. Hansen Holdings A/S, Fonterra Co-operative Group Limited, Glanbia plc, Koninklijke DSM N.V., Kerry Group plc, and Royal Friesland Campina N.V. to contribute to the growth of infant formula ingredients market size.
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