The global infant formula ingredients market is expected to reach US$ 17,822.5 million by the end of the forecast period in 2029. The growing focus on flavors and digestibility is propelling the market. The market is projected to report a healthy CAGR of ~ 7.3 %. Leading companies focus on expansions and new products over the forecast period.
Key Takeaways of Infant Formula Ingredients Market Study
- In terms of the type of ingredient, carbohydrates are currently dominating the global infant formula ingredient in overall value. On the other hand, increasing research on the importance of gut health and immunity drive are driving prebiotic infant formula ingredients to display a faster rate of growth.
- Further, cow milk continues to be a highly preferred source of ingredients for infant formula account for a large portion of all production activity. However, interest in plant based ingredients also supports the adoption of soy based ingredients. In addition, protein hydrolysates are currently in a nascent stage, but is displaying a higher rate of adoption.
- While liquid and semi liquid ingredients in infant formulas are spread across the industry, powder forms have witnessed the fastest growth, and accounts for the largest segment in the industry.
- Most infant formula ingredients are used in the production of growing-up milk products for children over 12 months of age. However, rising trends of personalization to meet the unique needs of individual babies are driving the growth of specialty formulas at a faster pace.
“Manufacturers are focused on introducing premium infant formula ingredients, as awareness about high-quality infant formula necessary for adequate nutritional needs with all key elements and nutrients is gaining popularity.”, says the FMI analyst.
Product launches and Collaboration Drive Growth
The global infant formula ingredients market is largely fragmented and fosters high levels of competitiveness. Consequently, major players are making use of multi-pronged business strategies involving expansions, new product launches, collaborations, and acquisitions to bolster their presence in the international market.
Get Valuable Insights into Infant Formula Ingredients Market
Future Market Insights, in its new report, presents an unbiased analysis of the global infant formula ingredients market, covering historical demand data and forecast figures for the period between 2019 and 2029. The study provides in depth insights into growth witnessed in the market. In terms of ingredient type (carbohydrates, fats and oils, proteins, vitamins, minerals, prebiotics, and others). On the basis of source, the market is bifurcated into cow milk, soy, protein hydrolysates, and others. By application, it can be split between growing up milk, standard infant formula, follow on formula, and specialty formula. Based on format, the key segments include powders and liquids and semi liquids. Regionally, North America.
FREQUENTLY ASKED QUESTIONS ABOUT INFANT FORMULA INGREDIENTS MARKET
What drives the infant formula ingredients market?
Infant formula ingredients market has untapped potential waiting to be unlocked. An influx of working mothers and parents seeking additional sources of nutrition is driving the demand for Infant formula ingredients. In addition, infant formula ingredients manufacturers are heavily investing in R&D which is further giving impetus to the market
Which factors put infant formula ingredients market at risk?
Various stringent regulations imposed at both international and national levels hamper the market. According to FMI, the high cost of infant formula ingredients can hamper their sales in the foreseeable future
Which region will lead the global sales of infant formula ingredients?
Regionally, Asia Pacific Excluding Japan (APEJ) accounts for the largest and fastest growing market. The high demand growth can be attributed to APEJ emerging as an attractive hub for convenience foods.
Which application segment offers most lucrative growth opportunities in infant formula ingredients market?
The infant formula ingredients market is expected to gain considerably from growing up milk application segment which will hold the largest share in the market. Following close behind is the specialty formula milk segment which will witness the fastest growth.