“Baby
Specialty Milk Formula Market: Global Demand Analysis & Opportunity Outlook
2024”
The global baby specialty milk
formula market is segmented into product type such as new born (0-3 months),
infant (3-12 months) and toddler (1-3 years). Among these segments, toddler segment
is expected to emerge as a fastest growing segment in overall baby specialty
milk formula market. The key reasons behind the growth of this segment are increasing
concerns amongst the parents towards baby’s nutrition across the globe. Furthermore,
babies of age group of 1-3 years are majorly advised to have specialty milk
formulas. This factor is expected to drive the growth of this segment in
upcoming years.
Global baby specialty milk
formula market is expected to register an 8.2% CAGR over the forecast period.
Moreover, the global baby specialty milk formula market was valued at USD 1600
Million in 2016 and is expected to reach at revenue of USD 3400 Million by the
end of 2024. The market is expected to expand on the back of growing birth
rates across the globe especially in emerging countries. Apart from this, swelled
disposable income of the consumers and growing spending on baby’s health and
wellness are estimated to intensify the growth of global baby
specialty milk formula market
in
future.
The online store segment by distribution
channel is likely to grow significantly during the forecast period. Growing
e-commerce business and increasing penetration of smartphones and laptops are
expected to be the major factors behind the expansion of online store segment
over the forecast period. Apart from this, producers of baby specialty milk
formulas are also strengthening their online distribution channel in order to capture
maximum size of market. This factor is expected to foster the growth of this
segment during the forecast period.
High Birth Rate
The major factor behind the increased consumption of
baby specialty milk formula is elevated birth rate in emerging economies such
as India and China. According to
UNICEF, around 353,000 babies are born every day across the globe.
Occurrence of
Health Issue in New Born Babies
Rising incidences of health
issues in new born babies such as low birth weight, weak immune systems are
fuelling the demand for additional nutrients for kids which in turn likely to increase
the consumption of baby specialty milk formulas in upcoming years.
However, high cost of baby
specialty milk formula is a major factor which is restricting low income
parents to adopt baby specialty milk formula is one of the major factors that
are likely to inhibit the growth of the baby specialty milk formula market in
the near future.
The report
titled “Baby Specialty Milk Formula
Market : Global Demand Analysis &
Opportunity Outlook 2024” delivers
detailed overview of the global baby specialty milk formula market in terms of
market segmentation by age group, by distribution channel and by region.
Further,
for the in-depth analysis, the report encompasses the industry growth drivers,
restraints, supply and demand risk, market attractiveness, BPS analysis and
Porter’s five force model.
This report also provides the
existing competitive scenario of some of the key players of the global baby
specialty milk formula market which includes company profiling of Perrigo Nutritionals LLC, Nestle SA, Piermen B.V.,
Bebelan Lacta Ltd., Abbott Laboratories, Danone Nutricia, Mead Johnson &
Company LLC , Savencia Fromage & Dairy, Abbott Laboratories and
AptaNutrition. The profiling enfolds key information of the companies
which encompasses business overview, products and services, key financials and
recent news and developments. On the whole, the report depicts detailed
overview of the global baby specialty milk formula market that will help
industry consultants, equipment manufacturers, existing players searching for
expansion opportunities, new players searching possibilities and other
stakeholders to align their market centric strategies according to the ongoing
and expected trends in the future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Read more Information: https://www.researchnester.com/reports/baby-specialty-milk-formula-market-global-demand-analysis-opportunity-outlook-2024/327
Contact for more
Info:
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Daniel
U.S.
+1 646 586 9123
U.K.
+44 203 608 5919
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