The global infant formula ingredients market is expected to reach US$ 17,822.5 million by the end of the forecast period in 2029. The growing focus on flavors and digestibility is propelling the market. The market is projected to report a healthy CAGR of ~ 7.3 %. Leading companies focus on expansions and new products over the forecast period.
Key Takeaways of Infant Formula Ingredients Market Study
- In terms of the type of ingredient, carbohydrates are currently dominating the global infant formula ingredient in overall value. On the other hand, increasing research on the importance of gut health and immunity drive are driving prebiotic infant formula ingredients to display a faster rate of growth.
- Further, cow milk continues to be a highly preferred source of ingredients for infant formula account for a large portion of all production activity. However, interest in plant based ingredients also supports the adoption of soy based ingredients. In addition, protein hydrolysates are currently in a nascent stage, but is displaying a higher rate of adoption.
- While liquid and semi liquid ingredients in infant formulas are spread across the industry, powder forms have witnessed the fastest growth, and accounts for the largest segment in the industry.
- Most infant formula ingredients are used in the production of growing-up milk products for children over 12 months of age. However, rising trends of personalization to meet the unique needs of individual babies are driving the growth of specialty formulas at a faster pace.
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“Manufacturers are focused on introducing premium infant formula ingredients, as awareness about high-quality infant formula necessary for adequate nutritional needs with all key elements and nutrients is gaining popularity.”, says the FMI analyst.
Product launches and Collaboration Drive Growth
The global infant formula ingredients market is largely fragmented and fosters high levels of competitiveness. Consequently, major players are making use of multi-pronged business strategies involving expansions, new product launches, collaborations, and acquisitions to bolster their presence in the international market.
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- Fats & Oils
- Others (Probiotics, Nucleotides, and Emulsifiers)
- Cow Milk
- Protein hydrolysates
- Others (Goat milk and camel milk)
- Growing-Up Milk (Infants over 12 months)
- Standard Infant Formula (0-6-month-old infants)
- Follow-On Formula (6-12 month-old infants)
- Specialty Formula
- Liquid & semi-liquid
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East & Africa