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Global Infant Nutrition Market to Garner $61.6 Billion by 2026, Says Allied Market Research

PORTLAND, OR, March 26, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Marker Research, the global infant nutrition market accounted for $36.68 billion in 2019, and is anticipated to reach $61.60 billion by 2026, growing at a CAGR of 7.7% from 2019 to 2026.

Increase in awareness on adequate nutrition, rise in disposable income, demanding lifestyle of consumer, and innovative packaging to influence buying behavior have boosted the growth of the global infant nutrition market. However, increased breastfeeding due to government initiatives hampers the market.On the contrary, emergence of organic baby food and prebiotic and probiotics in baby food are expected to create lucrative opportunities in the near future.

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The global infant nutrition market is segmented on the basis of product type, form, distribution channel, and geography. Based on product type, the market is categorized intofollow-on milk, specialty baby milk, infant milk, prepared baby food, and dried baby food. The infant milk segment dominated the market in 2019, contributing to more than two-fifths of the market. However, the prepared baby food segment is expected to manifest the highest CAGR of 10.4% during the forecast period.

On the basis of form, the market is divided into solid and liquid. The solid form manifested the highest demand in 2019, accounting for nearly three-fourths of the market. However, the liquid form is expected to witness the highest CAGR of 8.9% during the forecast period.

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Based on distribution channel, the market is segmented into hypermarket/supermarket, convenience stores, pharmacy, online, and others. The hypermarket/supermarket segment held the lion’s share in 2019, accounting for nearly two-fifths of the market. However, the online segment is expected to register the highest CAGR of 10.2% during the forecast period.

The global infant nutrition market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across LAMEA is anticipated to portray the fastest CAGR of 10.6% during the forecast period. However, the market across the Asia-Pacific region held the largest share in 2019, accounting for more than two-fifths of the market.

The global infant nutrition market report includes an in-depth analysis of the major market players such as Arla Foods Amba, Abbott, Dana Dairy Group Ltd., Campbell Soups, Nestle S.A., Danone, Perrigo Company Plc, Reckitt Benckise (Mead Johnson & Company LLC), Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF), and Heinz Baby.

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