Global Infant Formula Foods market: Overview
Infant formula refers to the food meant for consumption by babies aged below two years. It works as a replacement of mother’s milk though not an exact substitute of the same. It is a specially made food item that contains almost all the nutrients found in mother’s milk. Infant formula is easy to prepare and is safe and fresh for consumption by babies, which is estimated to bolster growth of the global infant formula foods market over the period of assessment, from 2020 to 2030.
Infant formula food items are considered of high quality and are made utilizing minerals, vitamins, lactose carbohydrates, protein, vegetable oils, and many other important ingredients. Source of protein could be milk from soybean or cow, depending on the manufacturer. Special formula foods, follow-on formula foods, starting formula foods, and growing up milk are the four different types of infant formula food items.
Product type, application, and region are the three important parameters based on which the global infant formula foods market has been classified. Such detailed analysis of the market comes with the sole purpose to provide stakeholders with a detailed and clear analysis of the global infant formula foods market.
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Global Infant Formula Foods Market: Notable Developments
One of the important market developments that give a quick view of the dynamics pertaining to the global infant formula foods market is mentioned as below:
- In June 2018, US-based Abbott Laboratories introduced Similac Eye-Q Plus with HMO, one of the most innovative infant formulas in Vietnam. Human milk oligosaccharides (HMO) are sugar molecules and stimulate immune system. This innovation is considered a path-breaking invention in infant nutrition science.
Some of the prominent organizations in the global infant formula foods market comprise the below-mentioned:
- Bristol-Myers Squibb Company
- GlaxoSmithKline plc
- Abbott Laboratories
- Nestlé S.A.
- Pfizer, Inc.
- Ausnutria Hyproca
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Global Infant Formula Foods Market: Key Trends
The global infant formula foods market is characterized by the presence of the following restraints, drivers, and opportunities.
Increased Participation of Women in Workforce to Amplify Demand in the Market
The growth of the global infant formula foods market is estimated to experience considerable growth due to the expansion of the population of baby boomers. Increased participation of women in the workforce has encouraged increased uptake of infant formula foods, which is likely to bode well for the global infant formula foods market in the years to come. In addition to that, rise in disposable income of the people together with rapid urbanization is expected to work in favor of the global infant formula foods market over the period of analysis, from 2020 to 2030. Furthermore, expansion of the base of middle class population is likely to further drive the demand for infant formula foods.
On the other hand, the growth of the global infant formula foods market is likely to be hampered by the regulatory difficulties pertaining to the procedure of obtaining approval for the production of infant formula food.
Global Infant Formula Foods Market: Geographical Analysis
In terms of geography, North America is expected to account for a sizeable chunk of the global infant formula foods market and the region is estimated to retain its position over the period of assessment. Presence of well-developed biotechnology and pharmaceutical industry and increased investment in research and development of infant formula food sector is expected to support growth of the market in the region. Besides, high disposable income is likely to emerge as another growth factor for the North America market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.