Infant Formula Ingredients Market earned revenues of USD 23.6 billion in 2021 and forecast to touch USD 44.0 billion in 2029 will grow at a CAGR of 8.1% from 2022-2029 owing to rising working women populations across various regions which include Asia Pacific, North America, and other developing countries.
The factors driving the growth of Infant Formula Ingredients Market includes rising focus on providing adequate nutritional benefits to infants, growing prevalence of chronic diseases, increasing preference for plant-based infant formula solutions around the world and improvements in the living standards. According to the report published by World Health Organization (WHO), approximately 5.2 million children aged below 5 years died in 2019, from curable and treatable causes and 1.5 million Children aged between 1 to 11 months died during the same years, which is pushing the demand for infant formula solutions worldwide. Moreover, increase in the working women population across the globe, infant formula ingredients promote healthy bone growth and enhances digestive health of infants, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Infant Formula Ingredients Market Growth. In addition, the increasing investments by major players on research and development, growing adoption of advanced technologies by manufacturers, rising disposable incomes and growing population growth rates, are further propelling the Infant Formula Ingredients Market size.
However, growth of the Infant Formula Ingredients Market is hindered due to high cost of infant formula products.
The major players operating in the market are Arla Foods amba, Carbery Food Ingredients Limited, Chr. Hansen Holdings A/S, AAK AB, Fonterra Co-operative Group Limited, Royal Friesland Campina N.V., Sachsenmilch Leppersdorf GmbH, Kerry Group plc, Lactalis Ingredients, BASF SE, Koninklijke DSM N.V., and Glanbia plc, among others.
Based on Ingredient, the Fats & Oils segment is predicted to expand at a significant CAGR during the forecast period
Fats and oils are important ingredients for meeting metabolic and physiological functions for the development and growth, of the infants, which is pushing growth of the segment.
Based on Form, the Dry segment is projected to capture the largest market share over the forecast period
Dry infant formula ingredients provide adequate carbohydrates, fats, and proteins and are easy to handle, are some of the features propelling segment’s growth.
Based on Region, the Asia-Pacific region is anticipated to grow at a remarkable CAGR during the forecast period
Rising awareness about the benefits of infant formula ingredients, increasing focus on providing adequate nutritional values to infants, growing demand for infant formula solutions across India, South Korea and China and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Developments
- In 2019, AAK AB planned to increase its share in partnership with Kamani Oil industries to 64%; thereby strengthen its position in the Indian market.
- In 2019, FrieslandCampina Ingredients planned to enter in a strategic partnership with four individual operating companies—DOMO, Kievit, DMV, and Nutrifeed, making this a big step in helping the organization to secure its unique position in value-added, healthy, and functional ingredients and solutions for infant formula development.
- In 2018, Fonterra Co-operative Group Limited partnered with Hema Fresh, which is Alibaba’s new retail space. The partnership will assist the company in fortifying its presence in the retail market for infant formula ingredients.
Market Segmentation
Segmentation by Ingredient
- Carbohydrates
- Fats & Oils
- Proteins
- Whey Proteins
- Casein Proteins
- Plant Proteins
- Vitamins
- Minerals
- Others
Segmentation by Source
- Cow Milk
- Soy
- Protein Hydrolysates
- Others
Segmentation by Form
- Dry
- Liquid
Segmentation by Application
- Growing-Up Milk Formula (Infants over 12 months)
- Standard Infant Formula (0–6-month-old infants)
- Follow-On Formula (6–12-month-old infants)
- Specialty Formula
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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