Probiotic Infant and Child Formula Market Growing at a CAGR of 14.1% from 2022 to 2028 says, The Insight Partners

Growing Focus on Infant Care and Increasing Population of Working Women Drive Probiotic Infant and Child Formula Market Growth

NEW YORK, UNITED STATES, December 9, 2022 /EINPresswire.com/ -- The probiotic infant and child formula market is expected to grow from US$ 11,505.28 million in 2022 to US$ 25,412.41 million by 2028; it is estimated to grow at a CAGR of 14.1% from 2022 to 2028.

Probiotic infant and child formula is an engineered food that can be used as an alternative to human breast milk. These formulas are one of the most complex foods as it requires sophisticated quality assurance protocols and specific manufacturing capabilities. The probiotic infant and child formula market is witnessing significant growth owing to the rising population. Additionally, the increasing disposable income of people in Asia Pacific encouraged the acceptance of probiotic infant and child formula. Also, rapid urbanization and the growth of the middle class have propelled the market growth. The increasing population of young working mothers has bolstered the demand for probiotic infant and child formula, as they are majorly dependent on infant and child nutrition products.

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Nestlé S.A.; HiPP GmbH & Company Vertrieb KG; Abbott Laboratories; Mead Johnson & Company, LLC.; and Bellamy's Organic are among the key players holding the majority of the probiotic infant and child formula market share.

Infant and child formula provides vitamins and nutrients essential for the growth of infant and child during an important period of child development. The availability of the formula products are developed for specific age groups and the nutrition available in these products varies according to the age. The infant and child formula is available in powder form that can be mixed with water or in a ready-to-drink liquid form. Thus, increasing awareness regarding the benefits and nutritive value of the formula is propelling the growth of the probiotic infant and child formula market. Moreover, women's participation in the labor force has increased in recent years. Infant formula and growing-up formula are considered as an alternative to breastfeeding milk, fulfilling the need for healthy and nutritious food for babies of working women. Moreover, changes in lifestyle; rise in middle-class population; growth in disposable income in emerging economies such as India, China, and Indonesia; and a surge in awareness about high nutritional content in the probiotic infant and child formula are propelling the market growth. Increased preference for organic and ready-to-eat products is also driving the market.

Increasing Population of Working Women Drives Probiotic Infant and Child Formula Market Growth

Various women return to their jobs quickly after delivery. Therefore, product, such as infant formula, is ideal for working women as it is easy to prepare and consumes lesser time. Moreover, infant formula has various nutrient values, like human breast milk, which augments its adoption across consumers. Therefore, the rising population of working women is a significant factor propelling the demand for probiotic infant and child formula. China is one of the biggest markets for probiotic infant and child formula. China scrapped its decades-old one-child policy in 2016 2016. The Chinese government made an announcement in May 2021, allowing couples to have up to three children after census data showed a sharp decline in birth rates. This surge in births is expected to lead to the growth in demand for probiotic infant and child formula. There has been a paradigm shift in consumers' buying behavior toward infant formula, with parents showing a preference for premium and ultra-premium infant formulas over conventional formulas. This trend is expected to continue and propel the growth of the probiotic infant and child formula market.

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Based on type, the market is segmented into infant formula (0-1 year) and growing up formula (1-6 years). Based on distribution, the probiotic infant and child formula market is segmented into online and offline. Based on geography, the market is segmented into four main regions North America, Europe, Asia Pacific, and the Rest of the World. In 2021, Asia Pacific dominated the probiotic infant and child formula market and is expected to register the highest CAGR in the market during the forecast period. Factors such as increasing awareness about nutritional needs and the growing birth rate in Asia Pacific propelled the demand for probiotic infant and child formula.

The COVID-19 pandemic hampered the global food & beverage industry due to the shutdown of manufacturing facilities, challenges in procuring raw materials and components, and restrictions on logistic operations. Disruptions in the supply of raw materials to manufacturers and containment measures disrupted the probiotic infant and child formula production. The discontinuation of operations and value chains due to the shutdown and closure of national and international boundaries hampered the growth of the food & beverage industry. However, during the pandemic, the demand for probiotic infant and child formulas was increasing due to the awareness about the health benefits of these formulas to infants and children. Moreover, the revival of the economy and the reopening of the manufacturing units led to restoring the production capacity of probiotic infant and child formula, which is positively impacting the probiotic infant and child formula market growth.

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Probiotic Infant and Child Formula Market Future Prospects, Regional Trends