The global infant formula market was valued at USD 45.12 Billion in 2018 and is anticipated to surpass USD 103 Billion by 2026. Introduction of innovative packaging, premiumization, new changes in ingredient mix are driving the infant formula market growth. This, coupled with the delivery of effective communication on product offerings, is expected to benefit the long-term growth of the market.
Among different types of infant formula, infant milk is expected to cover the major portion of the infant formula market share. A lead analyst at Fortune Business Insights says, “The segment witnesses’ strong sales growth in emerging economies on account of the lack of substitutes in the market.” He added, “Owing to the lack of nutrient-dense and convenient products, manufacturers are planning to develop a plethora of new infant formulae products such as infant milk.”
Some of the developments marked by the report are:
January 2019: A subsidiary of Arla Foods Amba called Arla Foods Ingredients revealed a new infant formula concept called easy digest whey protein. The company aims to reduce gastrointestinal issues by changing the number of proteins used.
August 2019: Danone Nutricia announced the launch of a new and advanced infant formula called Karicare Toddler. This product is made with pure New Zealand sheep milk.
September 2019: Researchers at the Technical University of Denmark and Kyoto University discovered a new infant formula which is as good as breast milk. It contains the same sugars and can be given to children who are not breastfed.
In addition to this, physicians also recommend the use of infant milk than follow-on-milk owing to their superior nutritional value and is the best substitute for breast milk. The medicalization of infant milk formula addresses some of the general health conditions in infants and children which include constipation and indigestion. Considering the rising awareness about infant formula, consumers demand organic, 100% lactose, GMO-free and other product differentiations in infant milk products.
Browse Complete Summary of Research: https://www.fortunebusinessinsights.com/industry-reports/infant-formula-market-101498
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