About Formula Milk Power
The formula milk consists of various nutrients, such as carbohydrates, fats, proteins, vitamins, minerals, and others (linoleic acid, prebiotic, and others), that are fed to babies for their overall development. It is generally used for babies. Although physicians recommend exclusive breastfeeding for under six months babies, infant formula can be used as an alternative, as it consists of similar nutrient contents. The rising awareness about baby health is helping to boost the global Formula Milk Powder in the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 9.5% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Formula Milk Power market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Mead Johnson (United States), Nestle (United States), Danone (Spain), Abbott (United States), FrieslandCampina (Netherlands), Heinz (United States), Bellamy (Austalia), Topfer (Germany), HiPP (Germany) and Perrigo (Ireland) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Arla (Denmark), Holle (Switzerland), Fonterra (New Zealand), Westland Dairy (New Zealand), Meiji (Japan), Yili (China), Biostime (Hong Kong), Yashili (China) and Feihe (China).
Segmentation Overview
AMA Research has segmented the market of Global Formula Milk Power market by Type (Wet Process Type, Dry Process Type and Wet - Dry Process Type), Application (First-class, Second class and Third class) and Region.
On the basis of geography, the market of Formula Milk Power has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Ingredient, the sub-segment i.e. Carbohydrate will boost the Formula Milk Power market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Hypermarkets will boost the Formula Milk Power market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase in women working for population outside the home and The increase in awareness about high nutritional content in the formula milk
Market Growth Drivers:
The change in lifestyle, rise in middle-class population and The growth in disposable income in emerging economies such as India, China, Indonesia, and
Restraints:
The concerns related to food safety and a decline in the global birth rate
Opportunities:
The attractive marketing and promotional strategies and Innovative product development
Market Leaders and their expansionary development strategies
In June 2023, Vietnamese dairy company Vinamilk has recently announced its strategic partnership with six leading global nutrition and bioscience companies. The collaboration reinforces Vinamilk's international reputation and its strong commitment to providing high-quality baby milk powder of international standards.
In October 2023, Nestlé SA will launch its own brand of A2 baby milk in Australia and New Zealand, challenging Auckland-based dairy company a2 Milk Co. Ltd., which holds a dominant market share in the region.
The U.S. government Food, Drug, and Cosmetic Act (FFDCA) characterize infant baby formula as "Nourishment which indicates to be or is spoken to for extraordinary dietary use exclusively as a nourishment for babies because of its recreation of human milk or its appropriateness as a total or incomplete substitutes for human milk."
Key Target Audience
Suppliers, Distributors, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.