The global infant formula market was valued at US$ 56.0 Billion in 2017, according to Infant Formula Market Report, by Formulation (Ready-to-feed, Powder, and Liquid Concentrate), by Formula (Cow milk-based, Soy-based, Hypoallergenic, and Others), by Distribution Channel (Online, Hypermarkets, Supermarkets, Specialty Stores, and Others), by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) published by Coherent Market Insights.
The global infant formula market is projected to reach US$ 95.0 Billion by 2026, exhibiting a CAGR of 6.1% during the forecast period. Increasing awareness regarding importance of nutrition for infants is fueling growth of the infant formula market. Furthermore, rising population of working mothers is driving growth of this market. According to International Labor Organization’s report on Women at Work: Trends 2016, the share of women in wage and salaried work more than doubled, from 26.3% in 1995 to 55.3% in 2015. Rising population of working mothers is significantly increasing adoption of infant formulas for their babies, which is positively impacting growth of the market.
However, strict regulations imposed on infant formula and baby food products is expected to restrain growth of the infant formula market.
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Key Trends and Analysis of the Infant Formula Market:
Key Takeaways of the Market:
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