What is Formula Milk Power Market Scope?
The formula milk consists of various nutrients, such as carbohydrates, fats, proteins, vitamins, minerals, and others (linoleic acid, prebiotic, and others), that are fed to babies for their overall development. It is generally used for babies. Although physicians recommend exclusive breastfeeding for under six months babies, infant formula can be used as an alternative, as it consists of similar nutrient contents. The rising awareness about baby health is helping to boost the global Formula Milk Powder in the forecasted period.
The Formula Milk Power market study is being classified by Type (Wet Process Type, Dry Process Type and Wet - Dry Process Type), by Application (First-class, Second class and Third class) and major geographies with country level break-up. According to AMA, the Global Formula Milk Power market is expected to see growth rate of 9.5%
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Formula Milk Power market throughout the predicted period.
Mead Johnson (United States), Nestle (United States), Danone (Spain), Abbott (United States), FrieslandCampina (Netherlands), Heinz (United States), Bellamy (Austalia), Topfer (Germany), HiPP (Germany) and Perrigo (Ireland) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Arla (Denmark), Holle (Switzerland), Fonterra (New Zealand), Westland Dairy (New Zealand), Meiji (Japan), Yili (China), Biostime (Hong Kong), Yashili (China) and Feihe (China).
Analyst at AMA have segmented the market study of Global Formula Milk Power market by Type, Application and Region.
On the basis of geography, the market of Formula Milk Power has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
The U.S. government Food, Drug, and Cosmetic Act (FFDCA) characterize infant baby formula as "Nourishment which indicates to be or is spoken to for extraordinary dietary use exclusively as a nourishment for babies because of its recreation of human milk or its appropriateness as a total or incomplete substitutes for human milk."
Influencing Market Trend
- Increase in women working for population outside the home
- The increase in awareness about high nutritional content in the formula milk
- The change in lifestyle, rise in middle-class population
- The growth in disposable income in emerging economies such as India, China, Indonesia, and
- The attractive marketing and promotional strategies
- Innovative product development
- The concerns related to food safety and a decline in the global birth rate
Key Target AudienceSuppliers, Distributors, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
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