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Breast Milk Substitutes Market 2020 By Revenue, Top Trend & Regional Growth Forecast

Author : Ronak Bora | Published Date : 2020-09-15 

Breast Milk Substitutes Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

The robust growth of breast milk substitutes market is likely to be influenced by the escalating number of working women. As a substantial proportion of the female populace is being inducted in the workforce, hectic lifestyles have been demanding the need for breast milk alternatives so as to ensure adequate nutrition for babies. That apart, development of retail stores that specially stock baby food products is also going to enhance the revenue share of breast milk substitute industry, in tandem with the consistent efforts of companies to develop different formula types of breast milk.

Among various formula types of breast milk substitutes, powdered formula is the most popular and least expensive form of baby formula. The product is to be mixed with water before feeding and can be administered during breast feeding to satisfy nutritional needs of infants. Powdered baby formula substitutes are also easy-to-use and will witness high adoption in the years to come. As per estimates, powdered breast milk substitutes market size is expected to register the highest CAGR of 10.0% over 2019-2025.

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As per GMI, breast milk substitutes market size is anticipated to hit USD 119 billion by 2025. Milk-based and soy-based breast milk substitutes have gained substantial traction in the recent years. However, it is plausible that in the times to come, hypoallergenic substitutes may gain massive popularity. This is because of the rising number of infants who have no resistance to cow’s milk or those who are allergic to soy milk substitutes.

Estimates claim that hypoallergenic breast milk substitutes market size is projected to cross USD 3.6 billion by 2025, with an anticipated target CAGR of 9% over the forecast period. This formula is known to be highly suitable for infants suffering from any kind of food allergy, or asthma, eczema, etc., which makes it the most suitable alternative for breast milk.

Despite the recent upsurge of e-commerce platforms, dedicated baby stores, online channels, etc., the age-old brick-and-mortar retail stores are expected to come up as the most dedicated distribution channel for breast milk alternatives. In 2018, retail stores dominated the business, having accounted for 45% of the revenue share and are expected to rake in substantial returns in the years ahead.

This growth can be credited to the convenience these stores offer to customers in tandem with the massive product availability as well as high purchaser patterns depicted by these stores. A substantial upsurge in the number of retail stores, especially in emerging economies, offering a variety of infant nutrition products, is also expected to boost breast milk substitutes market share from retail stores segment.

While birth rates worldwide seem to be on the downward spiral, developing countries such as China and India have been observing an increase in birth rates. Alongside though, the working women populace has increased in China, leading to a reduction in the breastfeeding rate. This has consequently led to an upsurge in the demand for infant nutrition products. Estimates claim that China held the largest proportion of breast milk substitutes market share in 2018 and is likely to exhibit a CAGR of 11.4% through 2025.

Rising adoption of breast milk alternatives coupled with the absence of an organized regulatory spectrum and rising awareness pertaining to infant nutrition will push China breast milk substitutes industry share.

Breast milk substitutes are available in the concentrated liquid, ready-to-use, and powdered formulas. Of these, the ready-to-use formula segment held USD 24.2 billion in 2018 and is expected to grow at a prodigious pace over the forthcoming years. The growth can be credited to the high convenience, safety, and sterility provided by these products. Additionally, ready-to-use formulas offer favorable time-effectivity, which proves beneficial for working mothers in particular.

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/breast-milk-substitutes-market

Partial Chapter of the Table of Content 

Chapter 4. Breast Milk Substitutes Market, By Substitute Type

4.1. Key segment trends

4.2. Milk-based formula

4.2.1. Market size, by region, 2014 – 2025 (USD Million)

4.3. Soy-based formula

4.3.1. Market size, by region, 2014 – 2025 (USD Million)

4.4. Hypoallergenic formula

4.4.1. Market size, by region, 2014 – 2025 (USD Million)

4.5. Others

4.5.1. Market size, by region, 2014 – 2025 (USD Million)

Chapter 5. Breast Milk Substitutes Market, By Formula Type

5.1. Key segment trends

5.2. Powdered

5.2.1. Market size, by region, 2014 – 2025 (USD Million)

5.3. Concentrated liquid

5.3.1. Market size, by region, 2014 – 2025 (USD Million)

5.4. Ready-to-use

5.4.1. Market size, by region, 2014 – 2025 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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