Infant Formula Ingredients Market

Analysis from GMI Research finds that the Infant Formula Ingredients Market earned revenues of USD 23.6 billion in 2021 and forecast to touch USD 44.0 billion in 2029 will grow at a CAGR of 8.1% from 2022-2029 owing to rising working women populations across various regions which include Asia Pacific, North America, and other developing countries.

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Key Drivers

An increasing number of working women populations, coupled with the growing awareness regarding the nutritional benefits of infant feeding for babies, are the key drivers of the global infant formula ingredients market. The other factors driving the growth of the global infant formula ingredients market include rapid urbanization, increasing disposable income, and changing lifestyle of consumers. With the growing health awareness, the consumption of proteins as an ingredient in applications like growing up milk and specialty formula has increased, driving the market growth.
Leading market players are emphasizing on incorporating various products ranging from various baby food products to infant formula, which is forecast to offer enormous opportunities to the market. Increasing inclination and growing women working population has propelled the market share. The hectic lifestyles of individuals has made it difficult for mothers to breastfeed, encouraging them to seek for an alternative, thus, propelling the market growth. Furthermore, the innovations introduced by market players in infant formula ingredients such as lactose-free formulas, soy-based formulas, is projected to expand the market growth.

Moreover, growing health concerns among parents for the development of babies along with the acceptability for trusted quality food products will boost the global infant formula ingredients market. Additionally, the growing demand for organic infant formula due to the hectic lifestyle of consumers will further enhance the global infant formula ingredients market. The health benefits associated with infant formula ingredients such as healthy bone growth, improve digestive health, and other health benefits, will further increase the demand for infant formula in the market. However, the high cost of the infant formula ingredients and strict regulations for infant formulas in developing countries may hamper the global infant formula ingredients market growth. The adoption of premium products or high-priced products has restrained the product demand across some developing regions due to low per capita income, restricting the market growth.

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Ingredient Segment Analysis

Based on the ingredient, the Oils & Fats ingredient is projected to grow at a higher CAGR during the forecast period. The Oils & Fats ingredient is one of the key ingredients required for the growth of the infants as it provides high energy to the babies. The Oils & Fats ingredients are available in a wide range of physiological and metabolic functions to infants. It also plays a critical role in the development and growth of infants.
The probiotics infant formula ingredient segment is expected to witness a faster CAGR over the forecast period, owing to the increasing adoption of new formulas to match the metabolism and intestinal needs of infants.

Form Segment Analysis

Based on the form, Dry form is predicted to dominate the market during the forecast period attributed to its growing awareness regarding the nutritional value offered by the dry form food products such as carbohydrates, fats, and proteins. The dry form is widely used as compared to the liquid form due to its ease of handling feature.

Application Segment Analysis

On the basis of the application, the Growing-up Milk Formula is projected to grow at a higher CAGR during the forecast period. The growing-up milk formula is the most commonly used application as it provides additional nutrition options that is promoting the parents to opted growing up milk formula as compared to other applications. It serves as a part of a balanced diet for infants and provides essential nutrients such as vitamin D, calcium, and iron to infants.

Source Segment Analysis

Based on the source, Cow Milk source is expected to dominate the global infant formula ingredient market owing to the high usage of cow milk-based ingredients by the manufacturers. Furthermore, high acceptance of cow milk in the Europe and North America regions will surge the demand of the segment. The protein hydrolysate is estimated to hold a larger CAGR over the forecast period, as the product helps in improving absorption of amino acids and gain optimized nutrient value of protein hydrolysate.

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Regional Analysis

Based on the region, the Asia-Pacific region is expected to witness a higher CAGR during the forecast period owing to the increasing working women along with the growing demand for easy food in the region. Moreover, growing awareness regarding the infant formula and hectic lifestyle of women will further boost the infant formula ingredient in this region. Asia-Pacific region is led by China, Japan, India, and South Korea due to a large number of infant formula ingredient manufacturers in this region.

North America accounted for a significant share in the market and is expected to grow considerably over the forecast period, primarily because of the growing awareness pertaining the nutritive value of products and growing drift towards western culture.

Top Market Players

Various notable players operating in the market, include AAK AB, Fonterra Co-operative Group Limited, Royal Friesland Campina N.V., BASF SE, Koninklijke DSM N.V., Arla Foods amba, Carbery Food Ingredients Limited, Chr. Hansen Holdings A/S, Sachsenmilch Leppersdorf GmbH, Kerry Group plc, Lactalis Ingredients, Glanbia plc, among others.

Key Developments:

• • In 2019, AAK AB decided to expand its share in its alliance with Kamani Oil industries to 64%; with an intent to strengthen its position in the Indian market.
  • In 2019, FrieslandCampina Ingredients decided to enter into a partnership with four individual operating companies—DOMO, Kievit, DMV, and Nutrifeed, making this a big step in helping the organization to secure its unique position in value-added, healthy, and functional ingredients and solutions for infant formula development.
  • In 2018, Fonterra Co-operative Group Limited entered into a partnership with Hema Fresh, which is Alibaba’s new retail space. The partnership will help the company in fortifying its presence in the retail market for infant formula ingredients.
  • In 2018, BASF SE launched 2’- fucosyllactose (2’-FL) to advance the capabilities in infant nutrition and to strengthen child health.
  • In 2018, Lactalis Ingredients acquired Aspen Pharmacare to expand their infant formula business and to cater to the growing demand for infant formula.
  • In 2018, Royal Friesland Campina N.V. acquired Cheese Corporation USA to strengthen its business in the US market further.

Segments covered in the Report:

The global infant formula ingredients market has been segmented on the basis of ingredient, form, application, source, and region. Based on ingredient, the market is segmented into carbohydrates, oils & fats, proteins, vitamins, minerals and others. Based on form, the market is segmented into dry and liquid. Based on application, the market is segmented into growing-up milk formula (Infants over 12 months), standard infant formula (0–6-month-old infants), follow-on formula (6–12-month-old infants) and specialty formula. Based on source, the market is segmented into cow milk, soy, protein hydrolysates and others.

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Key questions answered in this research report:

• • At what pace is global Infant Formula Ingredients Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Infant Formula Ingredients Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Infant Formula Ingredients Market?
  • Which Ingredient generated maximum revenues in 2021 and identify the most promising Ingredient during the forecast period?
  • What are the various Sources of global Infant Formula Ingredients Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation:

Global Infant Formula Ingredients Market by Ingredient

• • Carbohydrates
  • Fats & Oils
  • Proteins
    • Whey Proteins
    • Casein Proteins
    • Plant Proteins
  • Vitamins
  • Minerals
  • Others

Global Infant Formula Ingredient Market by Source

• • Cow Milk
  • Soy
  • Protein Hydrolysates
  • Others

Global Infant Formula Ingredients Market by Form

• • Dry
  • Liquid

Global Infant Formula Ingredients Market by Application

• • Growing-Up Milk Formula (Infants over 12 months)
  • Standard Infant Formula (0–6-month-old infants)
  • Follow-On Formula (6–12-month-old infants)
  • Specialty Formula

Global Infant Formula Ingredients Market by Region

• • North America Infant Formula Ingredients Market (Option 1: As a part of the free 25% customization)
    • By Ingredient
    • By Source
    • By Form
    • By Application
    • United States of America (US) Market All-Up
    • Canada Market All-Up
  • Europe Infant Formula Ingredients Market (Option 2: As a part of the free 25% customization)
    • By Ingredient
    • By Source
    • By Form
    • By Application
    • United Kingdom (UK) Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Infant Formula Ingredient Market (Option 3: As a part of the free 25% customization)
    • By Ingredient
    • By Source
    • By Form
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Infant Formula Ingredient Market (Option 4: As a part of the free 25% customization)
    • By Ingredient
    • By Source
    • By Form
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Infant Formula Ingredients (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • AAK AB
  • Fonterra Co-operative Group Limited
  • Carbery Food Ingredients Limited
  • Royal Friesland Campina N.V.
  • Sachsenmilch Leppersdorf GmbH
  • BASF SE
  • Koninklijke DSM N.V.
  • Arla Foods amba
  • Chr. Hansen Holdings A/S
  • Kerry Group plc
  • Lactalis Ingredients
  • Glanbia plc