Infant Formula Ingredients Market
Infant Formula Ingredients Market was valued at USD 17,012 Million in 2019 and is predicted to witness a CAGR of 8% over the forecast period (2020-2027), owing to the rising working women.
Rising urban population, growing awareness about the need of proper nutrition for growth of infants, and accelerating per capita income are some major factors driving the infant formula ingredients market. Also, with the growing concern for babies growth among parents, the demand for trusted quality food products has grown driving the market growth. Besides, various health benefits associated with the consumption of infant formula ingredients, like, better digestion and strong bones are propelling the market size.
By ingredient, the Oils Fats segment is predicted to witness a higher CAGR during the forecast period, owing to their crucial role in growth and development of babies.
By form, Dry form is likely to dominate the market over the coming years owing to its user-friendliness. Also, the dry form food products are rich in fats, proteins, and carbohydrates which further augments the market growth.
By application, the Growing-up Milk Formula is forecast to hold a larger shar during the forecast period. The growing-up milk formula has all the essential nutrients such as calcium, iron, and vitamin-D required for the growth of babies, thereby, strengthening the segment’s growth.
By source, Cow Milk source will lead the infant formula ingredient market because of its growing use by producers.
By region, the Asia-Pacific region is expected to capture a larger share over the forecast period. Rising working women has fueled the demand for easy food in the region, which has propelled the market growth.
Leading players operating in the market include Fonterra Co-operative Group Limited, AAK AB, Royal Friesland Campina N.V., BASF SE, Arla Foods amba, Carbery Food Ingredients Limited, Koninklijke DSM N.V., Chr. Hansen Holdings A/S, Sachsenmilch Leppersdorf GmbH, Kerry Group plc, Lactalis Ingredients, Glanbia plc, among others.
In 2018, BASF SE introduce 2’- fucosyllactose (2’-FL) to upgrade the capabilities in infant nutrition.
In 2018, Lactalis Ingredients adopted Aspen Pharmacare to enlarge their infant formula business and fulfil the growing demand for infant formula.
Infant Formula Ingredients Market Segmentation:
Infant Formula Ingredients Market by by Ingredient
- Fats Oils
- Whey Proteins
- Casein Proteins
- Plant Proteins
Infant Formula Ingredient Market by Source
- Cow Milk
- Protein Hydrolysates
Infant Formula Ingredients Market by Form
Infant Formula Ingredients Market by Application
- Growing-Up Milk Formula (Infants over 12 months)
- Standard Infant Formula (0–6-month-old infants)
- Follow-On Formula (6–12-month-old infants)
- Specialty Formula
Infant Formula Ingredients Market by Region:
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
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