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Tokyo, June 08, 2022 (GLOBE NEWSWIRE) — The global infant formula market size was valued at US$ 58.84 billion in 2021. An Infant formula is composed of various nutrients such as carbohydrates, fats, proteins, vitamins and minerals (linoleic acid, prebiotics, etc.) and is given for the overall development of the baby. Doctors recommend breastfeeding babies under 6 months of age alone, however, as infant formulas for baby contain similar nutrients, formulas are also increasingly being preferred by the consumers for their babies. Additionally, increasing number of women workforce outside the home is an important factor fueling the infant formula market.
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Moreover, factors like lifestyle changes, the rise of the middle class, increased disposable income in emerging markets such as India, China and Indonesia, and increased awareness of the high nutrient content of infant formulas is expected to drive market growth. However, concerns about food safety and declining global fertility can hinder this growth.
Increasing awareness about factors affecting infant health and the importance of micronutrients in promoting growth is encouraging market participants to introduce organic and non-organic products of animal origin. Also, Consumers are increasingly aware of their purchasing decisions regarding infant formula, with growing curiosity about the use of different ingredients in these products which also contributes towards the market growth in terms of value sales.
Furthermore, to meet the increasing awareness of parents when choosing infant formula, the major players in the market are focusing on launching products with organic ingredients and non-allergenic baby food which are made entirely from plant and organic ingredients. The key market players are now emphasizing developing infant formula fortified with vitamins &nutrition that are almost similar to mother`s milk. Industry giants such as Nestlé, Abbott Nutrition and Danone are constantly focusing on innovative ingredients to incorporate specific health benefits into infant formula. With increasing sales of organic infant formula , global infant formula market demand is estimated to bolster exponentially over the forecast period across the globe.
Scope of the Report
| Report Attributes | Details |
| Market Size in 2021 | USD 58.84 Billion |
| Revenue Forecast by 2030 | USD 125.2 Billion |
| CAGR | 8.75% from 2022 to 2030 |
Full story available on Benzinga.com
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