The term infant formula refers to a manufactured food designed and marketed for babies under twelve months old. The high nutritional content of infant formula makes it an acceptable alternative to breastfeeding. The nutrients and vitamins in infant formula, baby juice, and baby electrolytes are playing an important role in the development of the baby. Despite the fact that physicians recommend breastfeeding to infants, infant formula can be used as an alternative since it contains similar nutrients.
The global infant formula (baby drinks) market is driven by changing lifestyles, increasing disposable income of the middle-class population, and an increase in the number of women professionals. Further, increasing demand for ready-to-eat baby food products and key alternatives to breastfeeding milk such as nutritious juices and electrolytes are some of the factors that contribute to the growth of the infant formula (baby drinks) market. Market growth will be further boosted by the fortification of baby food with vitamins and minerals. However, rising concerns among the population related to food safety are expected to hamper the growth of the infant formula (baby drinks) market.
On the other hand, high investment by the manufacturers in the advertisement is leading to increased product knowledge among the parents, having a positive influence on the growth of the market. Furthermore, increasing retail stores and supermarkets, along with rising preferences of online stores for buying baby drinks are offering new growth opportunities to the manufacturers operating in the market and projected to enhance the market growth in the forecast period.
The global infant formula (baby drinks) market is divided based on product type, application, and region. Based on the product type, the global market is bifurcated into prepared baby food, dried baby food, and others. The application segment consists of pharmacies, convenience stores, and others.
Geographically, Asia Pacific region is projected to dominate the global infant formula (baby drinks) market and is expected to continue its dominance during the forecast period. Factors such as the increasing number of working women and the presence of a large consumer base are driving the growth of the market in this region. North America region is estimated to hold the second leading position in the market and is expected to account for a moderate share over the forecast period. This is attributed to the increasing per capita disposable income of the consumers and rising awareness about nutritional benefits associated with baby foods.
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Nestle S.A., Campbell Soup Company, Beingmate Group Co. Ltd., Abbott Laboratories, Danone, Arla Foods, HiPP GmbH & Co., Mead Johnson Nutrition Company, LLC., Heinz and Hain Celestial Group, and D. Sign store are some of the major players that are operating in the global infant formula (baby drinks) market. The players operating in the market are investing in new product development and innovative marketing campaigns, through both offline and online setups to ensure an enhanced product portfolio in the market.
In February 2020, the French-based branch of Danone has introduced an infant formula tracking service. This digital service has been launched in France, Germany, New Zealand, and Australia.
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