Organic Infant Formula Market Information: by Type (Starting Milk, Follow-On Milk, Special Milk), Formulation (Powdered, Concentrated Liquid, Ready-to-Feed), Distribution Channel (Store Based, Non- Store Based) and Region - Forecast till 2023
Pune, India -- (SBWIRE) -- 01/12/2018 -- Market Overview:
Infant formula is defined as food formula constituted purposely to feed babies under the age of 12 months. Infant formula is artificially produced alternative for mother's milk. Organic infant formula is referred as infant formula which is prepared abiding the regulations set by the government. The ingredients used to create organic infant formula should be natural and organic. Also, these formulation are certified and chemical-free that serves as a healthier option for infants over the conventional infant formula.
The global organic infant formula market is observing a remarkable growth owing to factors such as rapid urbanization, and increasing working women population. Factors such as increasing number of educated female population, improved gender equality along with increasing entrepreneurial opportunities for women has in turn intensified the sales of organic infant formula products.
Moreover, increasing promotional activity by the retailers across the region has uplifted the consumer demand for organic infant formula. The one-stop shopping experience in most of the developed countries has created beneficial opportunities for retailers and manufacturers to set up their operations and supply to meet increasing consumer demands.
Furthermore, the growing demand for organically produced foods is growing rapidly which is influencing higher demand and consumption of organic infant formula. Also, government and non-government organizations support to the conventional farmers to switch for organic farming is supporting the market growth of organic infant formula.
However, high capital investment to set up the business, manufacturers need to obtain the certifications from the government and other regulatory bodies which is time consuming process, this will have a direct impact on the bulk production of organic infant formula. Nevertheless, all these factors are boosting the global organic infant formula market to grow at the CAGR of 14.16% during the forecast period of 2017-2023.
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Major Key Players:
This report includes a study of strategies used in the market, mergers, and acquisitions and multiple product launch by organic infant formula market players. It further includes product portfolios and developments of leading players, which includes
Abbott Nutrition Manufacturing Inc. (U.S.)
Holle baby food GmbH (Switzerland)
Bellamy's Organic Pty Ltd. (Australia)
Zuivelcoöperatie Frieslandcampina U.A. (he Netherlands)
Beingmate Baby & Child Food Co., Ltd. (China)
Hain Celestial Group, Inc. (U.S.)
HiPP GmbH & Co. Vertrieb KG (Germany)
Major manufacturers are found to have high focus on strategic product launch in order to seek consumer's attention towards their product range. They are also involved in the acquisition of small players which will further support the company to expand and reach out to consumers across the regions. Acquisitions are also done to mark the company's presence and expand their business line.
Among the type, starting milk formula segment is anticipated to retain its dominance throughout the forecast period. Also, the segment is projected to register a healthy CAGR of 14.74% during the given period due to increase in the demand of starting milk formula among the consumers in developing economies. Starting milk formula is also getting support from the world health organization (WHO) and food & agriculture organization (FAO) to minimize the chances of malnutrition.
Among the formulation type of organic infant formula, powdered segment is accounting for 55% followed by ready-to-feed formula accounting for 35% of the global organic infant formula market. The segment is projected to register a healthy CAGR of 13.94% during the forecast period 2017-2023. Furthermore, the demand for ready-to-eat formula in infant milk formulation is increasing the growth of the organic infant formula market.
Among the distribution channel, store based segment is anticipated to retain its dominance throughout the forecast period. Also, the segment is projected to register a healthy CAGR of 13.79% during the given period.
The global organic infant formula market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these, Asia Pacific region is dominating the market over the forecast period. The market is projected to grow at a CAGR of 16.00% during the review period. This is attributed to high consumption of organic infant formula in this region. Among the Asia Pacific countries, China is majorly driving the market of organic infant formula in this region. However, rest of the world including countries such as Latin America, Middle East, Africa and others is expected to grow with a CAGR of 13.80% during the review period. In Asia Pacific region, China is expected to hold 46% market share in the year 2017.
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The Global Organic Infant Formula Market is segmented by type, formulation, distribution channel and region