Infant Formula Ingredients Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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What Does the Future Hold for the Infant Formula Ingredients Market?
The infant formula ingredients market has seen impressive growth in recent years. It is anticipated to escalate from $21.47 billion in 2023 to $23.41 billion in 2024, exhibiting a compound annual growth rate CAGR of 9.0%. This robust progression in the historical period can be linked to heightened awareness of infant health and nutrition, surge in global birth rates and population growth as well as the fast-paced urbanization and busy lifestyles of parents. Enhancements in distribution channels and access to infant nutrition, alongside strict regulatory standards and guidelines relevant to infant formula production, have also contributed to this market growth.
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What are the Projections for the Infant Formula Ingredients Market?
The infant formula ingredients market is poised for robust growth in the forthcoming years. It is anticipated to reach $33.01 billion by 2028, with an impressive CAGR of 9.0%. This growth in the expected period is majorly attributed to the escalating demand for organic and clean label infant formula ingredients, the rapid expansion of e-commerce platforms marketing infant nutrition products, rising disposable incomes and affordability of premium formulas, an increased inclination towards plant-based and alternative protein sources, emerging markets and the burgeoning middle-class population. Significant trends anticipated in the forecast period include the rise of human milk oligosaccharides hmos, probiotics and prebiotics for gut health, non-GMO and organic ingredients, omega-3 fatty acids dha and epa, as well as personalized and customized formulas.
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What Factors are Driving the Growth of the Infant Formula Ingredients Market?
The escalating focus on infant care and nutrition is projected to be a significant driving force for the market. This focus stems from the necessity to reduce morbidity and mortality rates, lower the risk of chronic diseases throughout an individual's lifespan, and foster regular mental and physical development. This increasing emphasis on infant care and nutrition will create a significant demand for infant formula ingredients as these act as an efficient alternative to breast milk, providing adequate nutrition to infants.
Who are the Major Players in the Infant Formula Ingredients Market?
Major companies operating in the infant formula ingredients market include the likes of Arla Foods AMBA, Fonterra Co-Operative Group Limited, Royal FrieslandCampina NV, DuPont de Nemours Inc., Sachsenmilch Leppersdorf GmbH, AAK AB, Carbery Food Ingredients Limited, Kerry Group plc, BASF SE, Koninklijke DSM N.V., Chr. Hansen Holding A/S, Ingredion Incorporated, Tate & Lyle PLC, Archer Daniels Midland Company, Omega Ingredients Ltd., Bunge Limited, Cargill Inc., FrieslandCampina Ingredients, Hilmar Ingredients Inc., Lactalis American Group Inc., Glanbia Nutritionals Inc., Nestle S.A., A2 Milk Company Limited, Feihe International Inc., H&H Group, Meiji Holdings Co. Ltd., Morinaga Milk Industry Co. Ltd., Westland Milk Products, Wissun International Group Co. Ltd.
What are the Emerging Trends in the Infant Formula Ingredients Market?
A trend that is gaining popularity in the infant formula ingredients market is the rising demand for organic infant formula. Organic infant formula is a non-GMO non-genetically modified product derived from grass-fed cows which carries no artificial growth hormones or antibiotics. The appeal of organic infant formula is on the rise due to its multiple benefits such as minimal health complications.
How is the Global Infant Formula Ingredients Market Segmented?
1 By Ingredients Type: Carbohydrates, Oil And Fats, Protein, Vitamin, Minerals, Prebiotics
2 By Form: Powder, Liquid, Semi Liquid
3 By Application: Growing Milk, Standard Infant, Follow On Formula, Specialty Formula
What are the Regional Insights for the Infant Formula Ingredients Market?
North America was the largest region in the infant formula ingredients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global infant formula ingredients market share during the forecast period. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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