Seattle, WA -- (SBWIRE) -- 09/25/2019 -- Food is the principle souce of energy and nutrients in the human body that are required for functioning of everyday activities. During infancy, food act as source of growth and development, which is mostly obtained from breastfeeding. The first six months of the infancy are very crucial in development of a child where optimum nutrition during that period is of chief importance. Breast milk provides various nutritional constituents such as proteins, fats, carbohydrates, vitamins, and mineral that play key role in development of child. However, in certain cases, breast milk cannot provide necessary nutrients. Such cases necessitate for substitute nutrition products.
The global infant nutrition product market is bifurcated as infant formula and baby food. Although these segments are similar in application, they have different growth drivers. Under baby food segment, dried food, prepared food, and other foods are included, while under infant formula segment, infant milk, specialty baby milk, follow-on milk, and growing milk are included. Increasing launch of innovative products is expected to drive growth of baby food segment in global infant nutrition product market. On the contrary, growing attempts of market players to offer high-quality products is expected to boot the infant formula segment. Moreover, increasing consumer inclination to pay premium price of such products in developed countries in Europe and North America is also expected to drive the market growth. This is primarily due to growing general perception of these products being safe and healthy for babies as compared to traditional products.
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Global Infant Nutrition Market Taxonomy:
Global Market by Product Type:
- Baby Food
- Infant Formula
Global Market by Formulation:
Global Market by Distribution Channel:
- Retail Pharmacies
- Super Markets & General Stores
Global Market by Geography
- North America
- Latin America
- Middle East
Increasing consumer base in emerging economies for these products is expected to drive growth of global infant nutrition market during the forecast period.
In the recent past, global sale of infant nutrition products in developed countries have shown significant increase. This is attributed to slowly increasing population, market saturation, and low birth rate. In emerging economies, the market has witnessed significant growth, owing increasing population and rapid growth of economies and also increased awareness about infant nutrition.
In Asia Pacific, China holds the largest market share in infant nutrition market. This is owing to the highest birthrate and key players focusing on the sale of premium products. It is also attributed to growing economy of China and increasing disposable income of the middle class population.
Infant Nutrition Market Dynamics
According to the Center for Disease Control and Prevention, the total number of births in the U.S. in 2014 was 3,988,076. The birth rate was 12.5 per 1000 people in the region. Moreover, the general fertility increased to 62.9% per 1000 women in the age group of 15 to 44. This rise in fertility is an indicator of the increased birth rate. Owing to the above mentioned reasons, the global infant nutrition market is estimated to grow at a considerable rate over the forecast period.
According to the worldstat.org, the birth rate in Asia was 17.56 in 2011. The birth rate of boys was more than the birth rate of girls in this region. The population of Asia has risen from 4.16 billion in 2010 to 4.43 billion in 2016, which is an increase of around 266 million. This rise in the number of births along with the rise in disposable income and per capita spending on baby care have made the infant nutrition market in this region, a promising one. A new trend observed in the market is that of increasing consumer inclination towards organic infant nutrition products.
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Stringent regulatory scenario, creates high entry barrier for new entrants in the market. As per the data of China Certification and Accreditation Administration (CNCA), after implementation of quality and safety standards in 2013, out of over 800 foreign brands selling their product of infant formula, only 94 have received approval to sell their products in China and only two-thirds of the local Chinese have received production permit renewals, who has their infant formula products.
Some major players in this market include Nestle, Mead Johnson Nutrition, Bledina, DANONE, Meiji Holdings Co. Ltd, Abbott Nutrition, The Kraft Heinz Company, FrieslandCampina, and Beingmate Baby & Child Food Co. Ltd.
The Mead Johnson Nutrition and Abbott Nutrition holds the largest market share with their Enfamil and Similac brands.
In 2012, the Nestle bought Pfizer's baby food division for US$11.9 billion. This acquisition helped Nestle to expand its reach into emerging markets, as Pfizer had large market share in countries such as India and China.
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