Dublin, Dec. 19, 2022 (GLOBE NEWSWIRE) -- The "Probiotic Infant and Child Formula Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type and Distribution Channel" report has been added to ResearchAndMarkets.com's offering.
The probiotic infant and child formula market is expected to grow from US$ 11505.28 million in 2022 to US$ 25,412.41 million by 2028; it is estimated to grow at a CAGR of 14.1% from 2022 to 2028.
Probiotic infant and child formula is suitable to meet the average nutritional requirements of infants up to 12 months of age and children from 1 to 6 years of age. The formula is composed of various nutrients, including carbohydrates, fats, proteins, vitamins, and minerals, and is given for the baby's overall development. These formulas are usually made with cows' milk.
Most parents in Asia Pacific prefer home-cooked baby food compared to infant and child formulas for their infants and children. However, parents are shifting toward infant and child formulas owing to the time limitations for food preparation and increasing concerns about the nutritional value of home-cooked food. There is an increased participation of women in the workplace. To fulfil need for healthy and nutritious food for babies, working mothers are preferring probiotic infant and child formula.
Many children suffer from inappropriate infant and child feeding and a lack of nutritious complementary foods. According to the United Nations Children's Fund (UNICEF), in Latin America and the Caribbean, 187,000 children under the age of 5 die every year due to chronic malfunction and other reasons. Out of these children, 52% die in the first 28 days of life. Such a significant number of children dealing with malnutrition is expected to propel the growth of the probiotic infant and child formula market.
Manufacturers such as Abbott were forced to shut down in Sturgis, Michigan, due to contamination concerns. This baby formula shortage negatively affected the US probiotic infant and child formula market. In May 2022, Food and Drugs Administration (FDA) announced the steps to reduce the impact of the crisis by easing restrictions on the manufacturers.
Manufacturers such as Nestle S.A. announced to provide nearly 1.3 million baby formula cans from different regions of the world. These steps taken by the government and private manufacturers are expected to help the probiotic infant and child formula market grow.
World Health Organization (WHO) recommends breastfeeding babies under six months of age alone; however, as infant formulas for babies contain similar nutrients, they are also increasingly being preferred by consumers for their babies. However, the falling fertility rate could hamper the growth of the probiotic infant and child formula market.
Based on type, the probiotic infant and child formula market is segmented into infant formula (0-1 year) and growing-up formula (1-6 years). The growing-up formula (1-6 years) segment led the market in 2021, and it is expected to register a higher CAGR during the forecast period.
Based on geography, the probiotic infant and child formula market is segmented into four main regions - North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific dominated the market in 2021 and is expected to register the highest CAGR in the market during the forecast period.
The increasing popularity of infant and child nutrition products in the region, growing urbanization, government and private sector initiatives to reduce malnutrition cases, and consumer spending are among the major factors driving the growth of Asia Pacific market.
The food & beverage industry faced unprecedented challenges owing to the onset of the COVID-19 pandemic. The shortage of raw materials and manpower, shutdown of factories, and other operational difficulties associated with COVID-19 safety protocols adversely affected the probiotic infant and child formula market.
The lockdown measures heavily impacted the supply and production of the formula. However, during the COVID-19 pandemic, awareness about infant and child health increased, as infant and children are at a higher risk of infection , which propelled the demand for products that boost immunity.
The successful implementation of mass vaccination drives in 2021 resulted in a rise in business activities. With economies reviving their operations, the demand for probiotic infant and child formula is expected to rise globally in the coming years, as key manufacturers have resumed their operations, along with restoring their normal production capacities.
Nestle S.A.; HiPP GmbH & Company Vertrieb KG; Abbott Laboratories; Mead Johnson & Company, LLC.; and Bellamy's Organic are among the leading players in the probiotic infant and child formula market. These companies are adopting strategies, such as mergers and acquisitions and product launches, to expand their geographic presence and clientele.
| Report Attribute | Details |
| No. of Pages | 109 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $11505.28 million |
| Forecasted Market Value (USD) by 2028 | $25412.41 million |
| Compound Annual Growth Rate | 14.1% |
| Regions Covered | Global |
Key Market Dynamics
Market Drivers
- Growing Focus on Infant Care and Nutrition
- Surge in Working Women Population
Market Restraints
- Stringent Rules and Regulations Pertaining to Infant Formula
Market Opportunities
- Rising Demand for Organic Infant Formula
Future Trends
- Innovations in Probiotic Infant and Child Formula Market
Company Profiles
- Nestle S.A.
- HiPP GmbH & Company Vertrieb KG
- Abbott Laboratories
- Mead Johnson & Company, LLC.
- Bellamy's Organic
- Aspen Pharmacare
- Beech-Nut
- Danone
- The Hain Celestial Group, Inc.
- Gerber
For more information about this report visit https://www.researchandmarkets.com/r/qinzpr
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