The probiotic infant and child formula market is expected to grow from US$ 11,505.28 million in 2022 to US$ 25,412.41 million by 2028; it is estimated to grow at a CAGR of 14.1% from 2022 to 2028.
Probiotic infant and child formula is an engineered food that can be used as an alternative to human breast milk. These formulas are one of the most complex foods as it requires sophisticated quality assurance protocols and specific manufacturing capabilities. The probiotic infant and child formula market is witnessing significant growth owing to the rising population. Additionally, the increasing disposable income of people in Asia Pacific encouraged the acceptance of probiotic infant and child formula. Also, rapid urbanization and the growth of the middle class have propelled the market growth. The increasing population of young working mothers has bolstered the demand for probiotic infant and child formula, as they are majorly dependent on infant and child nutrition products.
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Probiotic Infant and Child Formula Market: Strategic Insights
Market Size Value in US$ 11505.28 Million in 2022 Market Size Value by US$ 25,412.41 Million by 2028 Growth rate CAGR of 14.1% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Probiotic Infant and Child Formula Market: Strategic Insights
Market Size Value in | US$ 11505.28 Million in 2022 |
Market Size Value by | US$ 25,412.41 Million by 2028 |
Growth rate | CAGR of 14.1% from 2022 to 2028 |
Forecast Period | 2022-2028 |
Base Year | 2022 |
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to AnalystAccording to an estimate by US Census Bureau, the population of children under the age of five is approx. 24.8 million in 2022 and is expected to grow to 25.2 million by 2030. Therefore, the rising population of children below age 6 is expected to boost the demand for probiotic infant and child formula.
Probiotic Infant and Child Formula Market, by Region, 2021
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Increasing Population of Working Women Drives Probiotic Infant and Child Formula Market Growth
Various women return to their jobs quickly after delivery. Therefore, product, such as infant formula, is ideal for working women as it is easy to prepare and consumes lesser time. Moreover, infant formula has various nutrient values, like human breast milk, which augments its adoption across consumers. Therefore, the rising population of working women is a significant factor propelling the demand for probiotic infant and child formula. China is one of the biggest markets for probiotic infant and child formula. China scrapped its decades-old one-child policy in 2016 2016. The Chinese government made an announcement in May 2021, allowing couples to have up to three children after census data showed a sharp decline in birth rates. This surge in births is expected to lead to the growth in demand for probiotic infant and child formula. There has been a paradigm shift in consumers' buying behavior toward infant formula, with parents showing a preference for premium and ultra-premium infant formulas over conventional formulas. This trend is expected to continue and propel the growth of the probiotic infant and child formula market.
Type Insights
Based on type, the probiotic infant and child formula market is segmented into infant formula (0-1 year) and growing-up formula (1-6 years). In 2021, the growing-up formula (1-6 Years) segment dominated the market.
Probiotic Infant and Child Formula Market Share, by Type – 2021 and 2028
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Nestlé S.A.; HiPP GmbH & Company Vertrieb KG; Abbott Laboratories; Mead Johnson & Company, LLC.; and Bellamy's Organic are among the key players operating in the probiotic infant and child formula market. The leading players adopt several strategies, such as mergers & acquisitions and product launches, to expand their geographic presence and consumer base. - Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Spotlights
- Progressive trends in the probiotic infant and child formula industry to help players develop effective long-term strategies
- Business growth strategies adopted by companies to secure growth in developed and developing markets
- Quantitative analysis of the global probiotic infant and child formula market from 2021 to 2028
- Estimation of the demand for probiotic infant and child formula across various industries
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the probiotic infant and child formula industry
- Recent developments to understand the competitive market scenario and the demand for probiotic infant and child formula
- Market trends and outlook coupled with factors governing the growth of the probiotic infant and child formula market
- Understanding regarding the strategies that underpin commercial interest with regard to the market growth, aiding in the decision-making process
- Probiotic infant and child formula market size at various nodes of market
- Detailed overview and segmentation of the market as well as its industry dynamics
- Probiotic infant and child formula market size in various regions with promising growth opportunities
The "Probiotic Infant and Child Formula Analysis to 2028" is a specialized and in-depth study of the food & beverage industry, focusing on the market trend analysis. The report aims to provide an overview of the market with detailed segmentation. The probiotic infant and child formula market is segmented on the basis of type, distribution channel, and geography. Based on type, the market is segmented into infant formula (0-1 year) and growing up formula (1-6 years). Based on distribution, the probiotic infant and child formula market is segmented into online and offline. Based on geography, the market is segmented into four main regions North America, Europe, Asia Pacific, and the Rest of the World. In 2021, Asia Pacific dominated the probiotic infant and child formula market and is expected to register the highest CAGR in the market during the forecast period. Factors such as increasing awareness about nutritional needs and the growing birth rate in Asia Pacific propelled the demand for probiotic infant and child formula.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and Distribution Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Canada, China, France, Germany, Italy, Japan, Mexico, Middle East and Africa, New Zealand, Russia, South and Central America, UK, US
Frequently Asked Questions
The major players operating in the global probiotic infant and child formula market are Nestlé S.A.; HiPP GmbH & Company Vertrieb KG; Abbott Laboratories; Mead Johnson & Company, LLC.; Bellamy's Organic
In 2020, Asia Pacific accounted for the largest share of the global probiotic infant and child formula market. The region is expected to exhibit significant growth during the forecast period due to increased purchases by new mothers on nutritious food for a child, accompanied by increasing people's purchasing capacity in this Asia Pacific region.
Growing focus on infant care and nutrition and surge in the working women population is driving the probiotic infant and child formula industry. There has been substantial growth in the young working mother population. This has worked as a critical factor in propelling the growth of the probiotic infant formula market, as these working mothers are majorly dependent on processed infant nutrition products.
Based on the type segment, growing-up formula (1-6 Years) was the fastest-growing segment in 2021. The growing up formula is a milk-based formula that is developed for children that are 1 year and 6 years of age. While it is not used as a meal replacement but as additional nutrition for children.
Based on the distribution channel, the online segment led the global probiotic infant and child formula market in 2021. Online retail is one of the fastest-growing distribution channels due to its shopping and product delivery convenience. Online retail stores offer a wide variety of products with heavy discounts; also, consumers can conveniently buy desirable products remotely.
Innovations in the probiotic infant and child formula market are the key trend for the global probiotic infant and child formula market. The probiotic infant and child formula is gaining intense competition in the global probiotic infant and child formula market is driving the focus toward product innovation.
The List of Companies - Probiotic Infant and Child Formula Market
- Nestlé S.A.
- HiPP GmbH & Company Vertrieb KG
- Abbott Laboratories
- Mead Johnson & Company, LLC.
- Bellamy's Organic
- Aspen Pharmacare
- Beech-Nut
- Danone
- The Hain Celestial Group, Inc.
- Gerber
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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