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Abstract, Snapshot, Market Analysis & Market Definition: Breast Milk Substitutes Market
Industry / Sector TrendsBreast Milk Substitutes Market size was valued at over USD 60 billion in 2018 and is expected to witness 10% CAGR from 2019 to 2025. U.S.
Market Segmentation, Outlook & Regional Insights: Breast Milk Substitutes MarketBreast Milk Substitutes Market, By Substitute Type, 2018 & 2025 (USD Million) Increasing number of working women in developed and developing countries will be the major factor driving breast milk substitutes market growth. Rising initiatives to drive women education and empowerment is stimulating increase in the working-class women, especially across the low and middle income nations. Busy work schedules do not favor breastfeeding and may act as hindrance to the babys growth. Hence, numerous women prefer infant formula to achieve sub-optimal development and growth of the baby, that will highly impact breast milk substitutes market growth over the forthcoming years. Booming number of births in countries including India and China will positively influence breast milk substitutes industry size over the upcoming period. As per a recent study, the number of births in India were 25.2 million and 17.0 million in China in the year 2015. Such high number of infants will spur the demand for breast milk substitutes in the coming years. Moreover, varying trends in breastfeeding during the three years of the infants development, will positively impact breast milk substitutes market growth in the future years. However, stringent regulations and guidelines regarding marketing of breast milk substitutes globally will act as a barrier for breast milk substitutes industry expansion over the forecast timeframe.
Breast Milk Substitutes Market, By Substitute TypeMilk-based substitutes market accounted for more than 71% market share in 2018. Consumption of milk-based substitutes has increased over the period as cow/goat milk supplements breast milks nutritional qualities to the babies. Cow milk is fortified with vitamin D and calcium, benefiting whole body growth along with bone development of the baby. Additionally, milk-based infant formula contains vitamins, minerals, vegetable oils and iron for the infant growth. Thus, milk-based substitutes being the most commonly adopted substitute type will dominate the industry throughout the forecast years. Hypoallergenic formula market accounted for USD 1.9 billion market size in 2018. Hypoallergenic breast milk substitutes are basically protein hydrolysate formulas recommended for infants unable to tolerate cow milk or soy-based formulae. According to the American Academy of Pediatrics, prevalence of milk protein allergy among infants is about 2 to 3%. Hypoallergenic formula contains hydrolyzed proteins that may partially or extensively hydrolyze into smaller sizes than found in cow milk or soymilk, thus helping the infants with allergies. Hence, rising prevalence of eczema, food allergy and asthma should boost segmental growth over the coming years.
Breast Milk Substitutes Market, By Formula TypePowdered breast milk substitutes is forecasted to progress at robust 10.2% CAGR over the projected years. Powdered formulas are commonly used breast milk substitutes due to ease of preparation and high cost-effectivity in comparison with other types of breast milk substitute formula. In addition, leading market players including Nestle, Abbott Nutrition and Danone among few others are majorly involved in manufacturing of powdered formulae. Aforementioned factors will expand the adoption rate of powdered breast milk substitutes over the estimation period. Ready-to-use breast milk substitutes accounted for substantial revenue share of over 39% in 2018. This formula type offers high sterility, safety and is a convenient option for the working-class women. Ready-to-use breast milk substitutes offer favorable time-effectivity; however, it is expensive than other breast milk substitutes, that may hamper its preference. Moreover, such breast milk substitutes can be used for infants with high risk of infection, thus expanding the segmental share. B
reast Milk Substitutes Market, By Distribution ChannelRetail stores held significant market value of over USD 28 billion in 2018. Rapid expansion in retail stores in developing nations will highly impact the segmental share. Availability and purchase of breast milk substitutes is convenient in retail stores and most of these substitutes do not require prescription. Availability of breast milk substitutes at less expensive prices will further drive the demand for these products in retail stores, thereby augmenting the segmental growth. Others distribution channel segment including e-commerce platforms, baby stores and few other channels is estimated to grow at robust 10.0% CAGR over the forecast timeframe. Increasing internet penetration in the developing economies is boosting convenience as well as preference for products sales through online channels. Moreover, emergence of specialty and convenience stores such as Mom and baby stores coupled with distribution of breast milk substitutes through special supplemental nutrition programs will offer lucrative segmental growth in the forthcoming years. India Breast Milk Substitutes Market, By Distribution Channel, 2018 (USD Million)
Breast Milk Substitutes Market, By RegionChina breast milk substitutes market accounted for more than 24% market share in 2018 of the global breast milk substitutes industry. Poor regulations and lack of proper legislation for breastfeeding are the primary factors for high sales of breast milk substitutes in the country. Also, China is focusing on reducing child mortality rates by promoting good infant and young child feeding practices in the rural areas. Low breastfeeding rates will further influence the product demand, thereby offering lucrative growth potential to China breast milk substitutes industry. Mexico breast milk substitutes market is forecasted to progress at momentous pace of 10.3% CAGR during the projected timeframe. Lower rates of breastfeeding by mothers in the country will be a major contributor for driving the demand for breast milk substitutes. According to the World Health Organization, breastfeeding rate is very low in Mexico. In addition, rising spending on marketing of breast milk substitutes will further accelerate Mexico breast milk substitutes business growth over the coming years. Asia Pacific Breast Milk Substitutes Market, By Country, 2025 (USD Million)
Key Players, Recent Developments & Sector Viewpoints: Breast Milk Substitutes MarketNestle, Danone, Abbott Nutrition, Mead Johnson (Reckitt Benckiser) and Kraft Heinz among others are some of the key industry players operating in the global breast milk substitutes market. These players are implementing several strategies to gain competitive advantage over its competitors, such as marketing strategies, acquisitions and partnerships. For instance, in February 2017, Mead Johnson announced its acquisition by the Reckitt Benckiser Group that allowed expansion of Reckitt Benckisers product portfolio by including Mead Johnsons Enfa and Nutramigen product lines.
Breast Milk Substitutes Industry ViewpointBefore late 1860s, breastfeeding was the prime source of optimum child development and nourishment. Later, several years after the introduction of breast milk substitutes in the late 1860s, the rate of breastfeeding fell down rapidly between 1930s and 1970s. Aggressive marketing efforts, especially in countries having high birth rate served as a lucrative growth opportunity for manufacturing firms, further leading to growth in adoption of breast milk substitutes. However, increasing breast milk substitute-related infections, malnutrition, pneumonia and ultimately mortalities due to contamination of these products resulted into numerous initiatives to control marketing of breast milk substitutes and preserve breastfeeding. Non-governmental organizations such as World Health organization, UNICEF and others developed a Code to limit promotion of breast milk substitutes and other food that replaces breastfeeding. Realization of harmful effects of breast milk substitutes and awareness about the benefits of breastfeeding slowed down breast milk substitutes business growth eventually. However, even after several amendments in the legislation and restrictions on marketing of products by the major companies, breast milk substitutes market still continues to evolve owing to increasing number of working-class women and shift in perception of infant formula as modern formula milk in few countries. Furthermore, increase in prevalence of allergies related to breastmilk, intense marketing activities and investments by firms coupled with rising disposable income will provide momentous potential for breast milk substitutes industry growth in the foreseeable future.
Key Insights Covered: Exhaustive Breast Milk Substitutes Market1. Market size (sales, revenue and growth rate) of Breast Milk Substitutes industry. 2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Breast Milk Substitutes industry. 3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Breast Milk Substitutes industry. 4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Breast Milk Substitutes industry.
Research Methodology: Breast Milk Substitutes Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
1 Report Overview 1.1 Research Scope 1.2 Major Manufacturers Covered in This Report 1.3 Market Segment by Type 1.3.1 Global Breast Milk Substitutes Market Size Growth Rate by Type (2019-2025) 1.4 Market Segment by Application 1.4.1 Global Breast Milk Substitutes Market Share by Application (2019-2025) 1.5 Study Objectives 1.6 Years Considered 2 Global Growth Trends 2.1 Production and Capacity Analysis 2.1.1 Global Breast Milk Substitutes Production Value 2014-2025 2.1.2 Global Breast Milk Substitutes Production 2014-2025 2.1.3 Global Breast Milk Substitutes Capacity 2014-2025 2.1.4 Global Breast Milk Substitutes Marketing Pricing and Trends 2.2 Key Producers Growth Rate (CAGR) 2019-2025 2.2.1 Global Breast Milk Substitutes Market Size CAGR of Key Regions 2.2.2 Global Breast Milk Substitutes Market Share of Key Regions 2.3 Industry Trends 2.3.1 Market Top Trends 2.3.2 Market Drivers 3 Market Share by Manufacturers 3.1 Capacity and Production by Manufacturers 3.1.1 Global Breast Milk Substitutes Capacity by Manufacturers 3.1.2 Global Breast Milk Substitutes Production by Manufacturers 3.2 Revenue by Manufacturers 3.2.1 Breast Milk Substitutes Revenue by Manufacturers (2014-2019) 3.2.2 Breast Milk Substitutes Revenue Share by Manufacturers (2014-2019) 3.2.3 Global Breast Milk Substitutes Concentration Ratio 3.3 Breast Milk Substitutes Price by Manufacturers 3.4 Key Manufacturers Breast Milk Substitutes Plants/Factories Distribution and Area Served 3.5 Date of Key Manufacturers Enter into Breast Milk Substitutes Market 3.6 Key Manufacturers Breast Milk Substitutes Product Offered 3.7 Mergers & Acquisitions, Expansion Plans 4 Market Size by Type 4.1 Production and Production Value for Each Type | read more...