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Specialty Milk Formula Market By Distribution Channel (Specialty Outlets, Supermarkets, Online Store, Pharmacy Store, Others) - Growth, Future Prospects, Competitive Analysis, and Forecast 2016 - 2023

Infant nutrition is a distinct market that comprises two sub-categories, such as infant formula and baby food. Infant milk formula is a dietary product manufactured, designed, and marketed in order to feed infants due to its similarity with breast milk and suitability as an alternative to breast milk. There are basically four types of infant formula available on the market, which include starting milk formula, follow-on milk formula, toddler's milk formula, and specialty milk formula. The majority of infant formula is made up of cow's milk, which contains minerals, vitamins, and other related nutrients. The specialty milk formulas are basically designed for specific health-related ailments or situations (including premature babies, acid reflux, allergies, and others). Presently, the segment captures a minuscule share of the infant formula market and is likely to observe significant growth in the future. The North American region contributed the highest revenue share of the global specialty milk formula market in 2015.

Rapid urbanization, along with increasing popularity and significant demand for specialty milk formula due to rising health-related concerns among infants, has strengthened the growth of the global specialty milk formula market over the past few years. Apart from this, the rising active participation of women in the workforce is likely to positively impel the growth of the specialty milk formula market over the forecast period. Rising birth rates, especially in developing economies, along with the increasing purchasing power of parents due to escalation in disposable income, are projected to strengthen the growth of the global specialty milk formula market over the forecast period. Impelling e-commerce channel growth and preferences for online purchases of baby foods are further likely to fuel the overall specialty milk formula market's growth during the forecast period. Asia Pacific is anticipated to expand at a robust CAGR over the forecast period due to changing scenarios and a rise in health consciousness for infants in emerging countries such as China and India.

The specialty milk formula market has been estimated to be valued at US$ 1,731.8 million by the end of 2016 and is expected to attain revenue of US$ 3,091.0 million by 2023, expanding at a CAGR of 8.6% during the forecast period of 2016–2023.

 Purpose of the Report

The purpose of this strategic research study titled "Global Specialty Milk Formula Market: Growth, Future Prospects, Competitive Analysis, and Forecast, 2016–2023" is to provide company executives, industry investors, and industry participants with in-depth insights to enable them to make informed strategic decisions regarding the opportunities in the global specialty milk formula market.

Target Audience

  • Industry Investors
  • Research Professionals
  • Emerging Companies
  • Raw Material Suppliers and Buyers
  • Product Suppliers and Buyers
  • Research Institutes

Overall, the research study provides a holistic view of the global specialty milk formula market in terms of growth, offering market size and estimates for the period from 2013 to 2023, keeping in mind the above-mentioned factors.

On the basis of distribution channel, the specialty milk formula market is categorized into the following types:

  • Specialty Outlets
  • Supermarkets
  • Online Store
  • Pharmacy Store
  • Others

 

An increase in global demand for high-quality infant formula generates the requirements for significant quality-assured production processes that are crucial for global specialty milk formula manufacturers to prosper in the current scenario. Manufacturing infant formula is a complex process due to the specific needs of growing infants, and it is thus crucial to incorporate all necessary micro- and macronutrients at an appropriate concentration. On the basis of distribution channels, the specialty milk formula market is bifurcated into supermarkets, specialty outlets, pharmacy stores, online stores, and others. In 2015, the pharmacy store segment contributed the highest revenue share to the global specialty milk formula market. This segment has captured the highest share due to parents' preferences for consulting pediatricians in order to choose the appropriate infant milk formula. Increasing internet penetration, along with a hectic lifestyle and the rising number of women in the workforce, is expected to foster the growth of the online store segment over the forecast period. The increasing trend of purchasing products through online channels, especially in developing economies, is projected to expand the growth of the online store segment in Latin America and, the Middle East & Africa and, thus, is likely to impel the growth of the specialty milk formula market in these regions till 2023.

On the basis of geography, the global specialty milk formula market is segmented into the following categories:

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • UK
  • Russia
  • Asia Pacific
  • China
  • India
  • South Korea
  • Middle East and Africa
  • Central and South America
  • Brazil

North America dominated the global specialty milk formula market in 2015. It accounted for more than 45% of the global specialty milk formula market. Increasing awareness about specialty milk formula and their related benefits, along with rising health-related disorders among infants, have boosted the demand for specialty milk formula products in the region. Following it, Europe stood in second place in the global specialty milk formula market in the same year. The willingness and ability of parents to purchase premium infant formula products are expected to drive the growth of the specialty milk formula market in Europe during the forecast period. In the next few years, the Asia-Pacific specialty milk formula market is anticipated to contribute significantly in terms of revenue until 2023. Robust economic development, an increasing number of health-conscious parents, safety concerns for infants, and the popularity of specialty milk formulas among them are likely to foster the Asia-Pacific region's growth until 2023. Other regions, such as the Middle East and Latin America, are also likely to observe robust growth in the specialty milk formula market worldwide.

Frequently Asked Questions:

The market for Specialty Milk Formula Market is expected to reach US$ 1,731.8 Mn in 2023.

The Specialty Milk Formula Market is expected to see significant CAGR growth over the coming years, at 8.6%.

The report is forecasted from 2016-2023.

The base year of this report is 2015.

Nestle S.A.,Groupe Danone,Abbott Nutrition,Mead Johnson Nutrition.,The Kraft Heinz Company are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Sep 2016
Category:  Food & Beverage
Report ID:   58080
Report Format:   PDF
Pages:   120
Rating:    4.3 (55)
Delivery Time: 24 Hours to 48 Hours   
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