The global infant nutrition market is projected to witness a CAGR of 6.41% during the forecast period to reach a total market size of US$79.828 billion by 2026, increasing from US$51.690 billion in 2019.
The Infant Mortality Rate (IMR), recorded by World Bank in 2019 stands at 28.2 per 1000 births. This number is higher in developing and under-developed countries. Annual infant deaths have declined from 8.7 million in 1990 to 4.0 million in 2018 (WHO). There are several reasons for high IMR but the lack of nutrition is commonly blamed. Proper infant nutrition is fundamental to a child’s continued health, from birth through adulthood. Although every infant and child has the right to good nutrition under the Convention on the Rights of the Child, in many countries less than a fourth of infants have access to the required dietary diversity and feeding frequency. Globally in 2020, 149 million children under 5 were estimated to be stunted (too short for age), 45 million were estimated to be wasted (too thin for height), and 38.9 million were overweight or obese (WHO). These insufficiencies raise demand for proper nutrition in the market which can propel immense market growth.
Global per capita income has witnessed a healthy growth rate over the past few years, particularly in developing countries. This acts as a big market driver. Also, the use of organic raw materials, advertisements, packaging, product innovation, extensive R&D, health consciousness has further fueled the market growth.
Global INFANT NUTRITION Market, US$ Billion, 2019 to 2026
Source: Knowledge Sourcing Intelligence Analysis
By product type, the infant milk segment led in terms of infant nutrition market share and is expected to retain its dominance during the forecast period. By distribution channel, the offline segment comprising of stores, supermarkets, pharmacies, etc occupies the largest share. But the online segment is emerging in the last few years and more so due to the impact of Covid-19. Geographically, the market in North America is expected to grow due to the increasing number of working women and the increasing demand for baby food.
Global Infant Nutrition Market Share, by geography
Source: Knowledge Sourcing Intelligence Analysis
The participation of females in the labor force is 47.2% in 2019 (World Bank). As more and more females participate in the organized sector, there is an inherent change in the lifestyle. This participation rate is even higher in developing countries. This escorts an increase in spending power and the emergence of the middle-class. This has worked as a key factor in pushing the growth of the infant nutrition market, as these working mothers are majorly dependent on processed infant nutrition products.
As IMR continues to fall, the want for comprehensive nutrition increases. The product manufacturers have launched from time to time newer and better products. The incorporation of micronutrients and minerals in these products has proved to be beneficial. Investments in R&D activities have facilitated the launch of innovative products in the market. In addition, tamper-proof packaging of baby food products ensures optimal safety of its contents. Innovations in improving the safety of these products through process improvements and technological progress would increase the infant nutrition market demand in the future.
The effects of several infant nutrition products are questioned due to the increasing levels of child obesity and diabetes worldwide especially high sugar content. The contamination of food can also be caused by food additives like flavoring agents, preservatives, food colors, etc. Low-quality packaging shows the presence of microbial junks which have several ill effects. These factors discourage consumers from buying products that are containing the growth of the market.
The rising COVID-19 pandemic and lockdown measures resulted in a hasty difference in conditions for pregnant women, new mothers, and infants. The global food and beverages industry is one of the major industries that suffered the blow of COVID-19. These factors have severely affected the infant nutrition market. There was a huge loss found disrupting the sales of the market products, and market players were found investing heavily in maintaining the supply of essential nutrition and food to children. Nevertheless, the market is expected to return to its former trajectory in the long run as there might be a rise in the birth rates worldwide.
The market leaders for the Global Infant Nutrition Market are Nestlé, Reckitt Benckiser Group, Groupe Danone, Meiji Holdings Co. Ltd., The Kraft Heinz Company, Abbott Nutrition, FrieslandCampina, Beingmate Baby & Child Food Co. Ltd., BASF SE, Cargill, Incorporated, Sonoco Products Company. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors. For instance,
|Market size value in 2019||US$51.690 billion|
|Market size value in 2026||US$79.828 billion|
|Growth Rate||CAGR of 6.41% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Product Type, Distribution Channel, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Nestlé, Reckitt Benckiser Group, Groupe Danone, Meiji Holdings Co. Ltd., The Kraft Heinz Company, Abbott Nutrition, FrieslandCampina, Beingmate Baby & Child Food Co. Ltd., BASF SE, Cargill, Incorporated, Sonoco Products Company|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global infant nutrition market?
A1. Infant Nutrition Market was valued at US$51.690 billion in the year 2019.
Q2. What will be the infant nutrition market size by 2026?
A2. The global infant nutrition market is projected to reach a market size of US$79.828 billion by 2026.
Q3. What are the growth prospects for the infant nutrition market?
A3. The infant nutrition market is projected to witness a CAGR of 6.41% over the forecast period.
Q4. What factors are anticipated to drive the infant nutrition market growth?
A4. The infant nutrition market growth is attributed to urbanization, growth of middle-class consumers, and increasing rates of female participation in the labor force in developing and developed countries has encouraged the adoption of nutritious food like baby formula and prepared baby food desirable.
Q5. Which region holds the maximum market share of the infant nutrition market?
A5. Geographically, North America is expected to hold a significant share of the infant nutrition market due to the increasing number of working women and the increasing demand for baby food.