(MENAFN – Comserve) New York, United States, Dec 03, 2020, 04:37 /Comserve / — One of the major drivers for this market is the risinghealth concerns by parents.
One of the major drivers for this market is the risinghealth concerns by parents. These concerns have led to them choosing optimum nutrition products to ensure the health and development of their babies. The choice to supplement breastfeeding with organic, rather than conventional, baby nutrition products for safer and better nutrition has propelled the market as well. These products vary in taste, nutrients, quality, price and ability to digest according to region thus leading to a diversified market. Increase in health awareness, enhanced use of infant formulas and rising incomes will fuel market growth in the future. Also, e-retail sales of infant nutrition products hold a lot of potential for the market’s growth.
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The surge in number of working mothers.
Rising birth rates.
Technological innovation in the packaging of infant nutrition products.
Rising disposable incomes.
Risk of allergies due to the products.
Steadfast belief in conventional infant nutrition products.
High production costs.
The [To enable links contact MENAFN] global infant nutrition market can be segmented on the basis of:
1. PRODUCT TYPE: starting milk formula, follow-on milk formula, toddler’s milk formula, special milk formula. The starting milk formula has had the highest share of the market in terms of value up until 2016 and is expected to continue its dominance in the forecast period. The follow-on milk formula has been predicted to grow at the highest rate during the forecast period.
2. DISTRIBUTION CHANNEL: Supermarkets, online stores, specialty stores, pharmacy and others. The pharmacy stores hold the highest share of the market value. It is expected that the supermarket share will grow at the highest rate in the forecast period due to the increasing number of supermarkets in developing countries. With companies like Walmart and Kroger opening up supermarkets in developing countries by the day, the prediction is close to realization.
Geographically, the market is segmented into Europe, Asia-Pacific, Latin America, North America,and the Middle East and Africa.
ASIA-PACIFIC: This region is expected to experience the highest growth rate during the forecast period. Growth in the working women population due to decreased social stigma has also fueled growth due to the convenience offered. Most importantly, it is the most populated region and with high child birth rate.
EUROPE: Although this region is expected to hold the highest market share in terms of value, the growth of this region is expected to show a drop due to decreasing birth rates.
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