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Europe is one of the prominent regions in infant formula market. Europe has presence of several infant formula producing companies and will be growing at 9.0% during the forecast timespan. Nestle, HiPP, DMK GmbH and Danone are some of the major players operational in this regional market. Asia Pacific is one promising region in terms of increasing consumption of infant formula market. The region held 35.6% share by volume in global infant formula market in 2018.Growing infant population in India, Vietnam, Pakistan, Thailand, Indonesia will be accelerating product demand over the forecast timeframe. Additionally, governments of these nations are taking necessary steps to improve their infant mortality rate, for which they run several schemes for baby as well as for the mother. In addition, growing awareness among parents about right selection of food products for their babies has led to intense competition among companies regarding reaching their target consumers efficiently.
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Supermarkets segment shall be witnessing maximum gains in infant formula market in the coming years. The segment will expand at CAGR of 9.5% over the forecast timeframe. The steadily growing retail industry across the globe, will benefit supermarket formats the most, as they have wide product range and offer products at affordable prices.
Follow-on segment accounted for the largest share in global infant formula market in 2018. This segment food caters to babies aged 6 to 12 months. This age group requires proteins and other essential elements as present in mother's milk. This category has highest demand for infant formula because at this stage, breastfeeding is generally stopped, and infants are introduced to other foods.
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The global infant formula market is highly regulated with various regulations laid down by The Center for Food Safety and Applied Nutrition under the U.S. FDA. It lays down regulations regarding the nutrient specifications in baby food products. These regulations also mandate the maximum and minimum ranges of necessary nutrient content in infant formula products. According to the FDA regulations, the nutrients specifications includes minimum ranges of 29 nutrients and mentions maximum limits for nutrients permitted to be used in infant nutrition products.
On the basis of distribution channels, the global market has been segregated into hypermarket, supermarket, convenience store, online and others. Among the aforementioned segments, supermarkets contributed highest to the revenue share amounting more than USD 18 billion in 2018 and will hold the highest revenue share throughout the assessment period.
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The Infant Formula market is highly competitive with companies functional such as Mead Johnson Nutrition, Danone, Nestle, Arla Food Ingredients, Hero Group, Abbott and Perrigo Nutritionals. The companies have extensive experience in their respective domain of products and have an integrated supply chain network.
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Name: Arun Hegde
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Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/industry-analysis/infant-formula-market
Release ID: 517036
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