As per the analysis by Market Research Future (MRFR), the worldwide organic infant formula market is estimated to secure a market value of USD 7.75 billion, shooting up at a CAGR of 14.1% by 2023. The global organic infant formula market 2020 is estimated to expand phenomenally owing to the rapid urbanization and the era of gender equality. The era has resulted in substantial work opportunities for females, giving entrepreneurial opportunities to them. Further, the changed parenting method owing to the long working hours and increased disposable income in emerging economies is estimated to augment the global market. Besides, the increasing preference for natural and organic food ingredients is estimated to propel the market additionally. The organic infant formula market is experiencing technical development from the past few decades, which is projected to stimulate the market in the forthcoming period. Besides, these formulations are chemical-free and have no toxic impact on infants, which escalates the demand in the market, thereby growing the market significantly.
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.
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.
The segment analysis of the global organic infant formula market size is done by formulation, product type, and distribution channel.
The formulation based segment of the global organic infant formula market share is powdered formula, concentrated liquid formula, ready to feed formula, and others.
The product type based segment of the global organic infant formula market analysis is follow-on milk formula, starting milk formula, special milk formula, and others.
The distribution channel based segment of the global organic infant formula market revenue 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 organic infant formula trends 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 market. 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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