According to a new market research report
published by Credence Research “Infant Formula Market
(Protein Source – Cow Milk Protein-based, Soy-based, Hypoallergenic
and Specialized Infant Formula) - Growth, Share, Opportunities,
Competitive Analysis and Forecast 2016 - 2023”, the global infant
formula market was valued at US$ 9.40 Bn in 2015 and is estimated to
expand with a CAGR of 6.7% from 2016 to 2023.
Browse the full report at
http://www.credenceresearch.com/report/infant-formula-market
Market Insights:
The infant formula market is
highly driven by the rising ratio of females in workforce worldwide.
People are more inclined towards purchasing baby care products that
are convenient and also ensure baby nutrition. Thus, further rise in
female workforce may substantially fuel the market growth especially
in the developing economies. Another major factor propelling the
market growth is the rising discretionary income of people worldwide.
Manufacturers are more focused towards designing nutrition-rich
products and offering organic infant formula products. With the
rising purchasing power of people worldwide, such infant formula
products are expected to witness warm demand in the coming years.
However, major factor affecting
the market growth is the regulations supporting breastfeeding and
controversies over infant formula products. The market has been
facing the hurdles of controversies over infant formula products
since several years. Organizations such as WHO and UNICEF highly
recommend and promote breastfeeding over its substitutes in order to
ensure infant health. Infant formula products are recommended only in
cases where breastfeeding is not possible. This acts as a major
challenge for the market.
Browse the full report at
http://www.credenceresearch.com/report/infant-formula-market
Competitive Insights:
The global infant formula market
is consolidated and regulated in nature with a few major
international players contributing to more than fifty percent of the
total market revenue. The most significant concern for the market
players is to comply with the standards issued by various food
regulatory bodies worldwide. Thus, market players majorly compete
upon the quality of their products thereby designing nutritious
infant formula products causing no harm to the babies.
Apart from product development and
brand-name, infant formula providers focus on attractive packaging of
their products. Attractive packaging plays crucial role in case of
baby products as it largely helps driving the consumers. This makes
attractive packaging is one of the most important strategies adopted
by the infant formula manufacturers. Another major trend among the
companies is the promotion of breastfeeding over infant formula at
least for the first six months of babies.
Key Trends:
-
Organic baby food products for better health
-
High focus on quality in order to meet food standards
-
Focus on India and China by launching price competitive products
-
Online product promotion
-
Brand-name promotion
Download Free Sample Request:
http://www.credenceresearch.com/sample-request/58006
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Credence
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consultants and almost 100 research and information professionals.
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in the Americas, 13% in Asia Pacific and 12% in the Middle East and
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