Organic Infant Formula Market Overview | Global Statistics, Size, Value Share, Business Growth, Key
Posted: Feb 29, 2020
Global Organic Infant Formula Market is an artificially synthesized substitute for mother’s milk which is used to feed babies under the age of 12 months. Organic Infant Formula is referred to as infant formula which is manufactured under the regulations fixed by the government for the product to be natural and organic. The ingredients used in organic infant formula are certified and free of chemicals which is a healthier choice for infants than the conventional infant formula. The rapid increase in the birth rate in developing regions and inclination towards the adoption of infant nutrition products with premium quality are some of the major factors that are generating the demand for organic infant formula in the global market. The increasing awareness regarding the ill-effects of chemically synthesized infant formula and the growing demand for organic food is fueling the expansion of the global infant formula market.
The increasing involvement of government and non-governmental organizations in publicizing the benefits of organic infant formula over the conventional infant formula is inclining the population towards the adoption of organic products, which is impacting the growth of the global infant formula market positively. The rapid shift of consumers to online-shopping and increase in demand for chemical-free food products is propelling the expansion of the global infant formula market. The increasing promotional activities all over the world is inducing demand for organic infant formula in the global market. However, the addition of genetically engineered ingredients in infant formula, increasing adulteration and pricing issues are likely to pose a hindrance to the expansion of the global infant formula market.
Key Players Strategy
The prominent players in the Global Organic Infant Formula Market are focusing on strategic mergers and acquisitions to expand their businesses. The increasing investment in research and development for new product launch is triggering competition among the players of the global infant formula market. In May 2018, FRIESLANDCAMPINA DOMO’s new human milk oligosaccharide (HMO) ingredient, 2’-fucosyllactose (2’-FL), has been officially certified to be used in infant formula to increase the nutritive value of the products in U.S. and European market.
The leading players of the Global Infant Formula Market are ZUIVELCOÖPERATIE FRIESLANDCAMPINA U.A. (the Netherlands), HOLLE baby food GmbH (Switzerland), Bellamy's Organic Pty Ltd. (Australia), Hain Celestial Group, Inc. (U.S.), Abbott Nutrition Manufacturing Inc. (U.S.), BEINGMATE Baby & Child Food Co., Ltd. (China) and HIPP GmbH & Co. VERTRIEB KG (Germany)
Global Organic Infant Formula Market is segmented based on type, formulation and distribution channel. Based on type, the infant formula market is segmented into starting milk formula, follow-on milk formula, special milk formula and others. Among these types, the starting milk formula segment accounts for the largest market share and during the forecast period, it is anticipated to expand at 14.74% CAGR.
Based on formulation, the market is segmented into powdered formula, concentrated liquid formula, ready-to-feed formula, and others. Among these formulations, the powdered formula segment is anticipated to witness the highest growth at a CAGR of 13.94% during the forecast period of 2017-2024.
Based on distribution channel, the global infant formula market is segmented into store-based and non-store-based distribution channel. Among these, the store-based segment is anticipated to project the highest growth at a CAGR of 114.169% during the forecast period.
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Global Organic Infant Formula Market is regionally distributed in Europe, North America, Asia-Pacific and the rest of the world. Asia-Pacific region is anticipated to create its dominance over the global infant formula market during the forecast period due to the rapid rise in population, healthy economic growth, and increasing health awareness in this region. The infant formula market in the developed regions of North America and Europe is driven by the rise in demand for organic food and increasing awareness regarding the hazards of chemically synthesized infant formula. Latin America and the Middle East and Africa are anticipated to project significant growth in the infant formula market during the forecast period.
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