Organic Infant Formula Market Size Synopsis
According to Market Research Future (MRFR), the global Organic Infant Formula Market Size is expected to reach a market size of USD 7.75 billion by 2023, with a CAGR of 14.1 percent.
Due to rising urbanization and the period of gender equality, the worldwide Organic Infant Formula Market Size is expected to grow at a remarkable rate by 2020. The age has resulted in significant job prospects for women, as well as entrepreneurship opportunities. Furthermore, the worldwide market is expected to benefit from a shift in parenting styles because of lengthy working hours and increased discretionary income in emerging economies. Furthermore, the growing demand for natural and organic food ingredients is expected to boost the market even further. Since the last few decades, the organic infant formula industry has been undergoing technological advancements, which are expected to boost the market in the approaching years. Furthermore, these formulations are chemical-free and have no adverse effects on infants, which increases market demand, resulting in significant market growth.
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However, massive investment at the initial stage and the time-consuming process of obtaining certificates from the government is likely to impede the market. However, technical development, along with the aforementioned factors are likely to combat the obstructing factors in the coming period.
Key Players Organic Infant Formula Market Size
Abbott Nutrition Manufacturing Inc (US), Holle Baby Food GMbH (Switzerland), Zuivelcoöperatie Frieslandcampina U.A. (Netherlands), Hain Celestial Group, Inc (US), Happy Family (Happy Baby) (US), HiPP GmbH Co. Vertrieb KG (Germany), Nature's One (US), Nestlé (Switzerland), Bellamy's Organic Pty Ltd (Australia), Royal FrieslandCampina (Netherlands), Beingmate Baby Child Food Co., Ltd (China), Perrigo Nutritionals (US), are some of the known organizations of the global Organic Infant Formula Market Size.
The segment analysis of the global organic infant formula is done by formulation, product type, and distribution channel.
The formulation-based segment of the global organic infant formula is powdered formula, concentrated liquid formula, ready to feed formula, and others.
The product type-based segment of the global organic infant formula is follow-on milk formula, starting milk formula, special milk formula, and others.
The distribution channel-based segment of the global organic infant formula is store-based and non-store-based. The store-based segment has been further segmented into convenience stores, hypermarkets supermarkets, and others.
Based on geography, the global market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (Row). As per the evaluation, the APAC region is estimated to dominate the global market during the forecast period. The regional market is projected to expand at a CAGR of 16%, obtaining a substantial market value. In APAC, China is predicted to make the most crucial participation in developing the regional market. Further, India and Australia are also likely to make significant contributions to the Organic Infant Formula Market Size. The manufacturing companies are targeting the developing countries like India and China on account of the lucrative market,
Europe is projected to be a lucrative market owing to the large consumption of organic food in the region. North America is estimated to display significant market growth during the review period. The regions are fast at adopting the latest technologies, which further strengthens the regional market during the assessment period. Besides, chemical-free nature is predicted to develop the regional market further.
MEA region is experiencing a rise in demand leading to the rise of the working woman population and growing knowledge about the product and its benefits. In addition, exposure to the western lifestyle is likely to bring a positive impact on the market.
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