SEATTLE, Dec. 06, 2018 (GLOBE NEWSWIRE) -- The global infant formula market was valued at US$ 56.0 billion in 2017, and is projected to exhibit a CAGR of 6.1% over the forecast period (2018–2026).
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Key Trends and Analysis of the Infant Formula market:
- Rising population of working mothers is fueling the growth of infant formula market. For instance, according to International Labor Organization’s report on Women at Work: Trends 2016, the share of women in wage and salaried work more than doubled, from 26.3% in 1995, to 55.3% in 2015.
- Furthermore, increasing awareness regarding importance of nutrition for infants is propelling the growth of infant formula market. For instance, in 2014, United Nations Children's Fund (UNICEF- UK) published a ‘guide to infant formula’ and responsive bottle-feeding. The guide aims to create awareness regarding type and benefits of infant formulas.
- Various key players focus on increasing its business by launching new products and expanding its product portfolio in the market. For instance, in March 2015, Nestlé announced plans to expand its research on child-health and nutrition in ten countries, including the U.S., China, and Mexico. In May 2015, Abbott Laboratories launched a non-GMO version of its popular infant formula, Similac, as a first and only non-GMO infant formula.
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Key Market Takeaways:
- The global infant formula market is expected to exhibit a CAGR of 6.1% during the forecast period (2018–2026)
- Asia Pacific held significant market share in the global infant formula market in 2017, owing to rising birthrates in the region
- Some of the major players operating in the global infant formula market include Abbott Laboratories, Nestlé S.A., Kraft Heinz Food Company, Groupe Danone, Mead Johnson Nutrition, Beingmate Baby & Child Food Co., Ltd., Plum Organics, and Meiji Holdings Co., Ltd.
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