The global organic infant formula market is observing a remarkable growth owing to factors such as rapid urbanization and increasing working women population. Factors such as increasing number of educated female population, improved gender equality along with increasing entrepreneurial opportunities for women has in turn intensified the sales of organic infant formula products. Moreover, increasing promotional activity by the retailers across the region has uplifted the consumer demand for organic infant formula. The one-stop shopping experience in most of the developed countries has created beneficial opportunities for retailers and manufacturers to set up their operations and supply to meet increasing consumer demands.
Infant formula is defined as food formula constituted purposely to feed babies under the age of 12 months. Infant formula is artificially produced alternative for mother’s milk. Organic infant formula is referred as infant formula which is prepared abiding the regulations set by the government. The ingredients used to create organic infant formula should be natural and organic. Also, these formulation are certified and chemical-free that serves as a healthier option for infants over the conventional infant formula.
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Furthermore, the growing demand for organically produced foods is growing rapidly which is influencing higher demand and consumption of organic infant formula. Also, government and non-government organizations support to the conventional farmers to switch for organic farming is supporting the market growth of organic infant formula.
However, high capital investment to set up the business, manufacturers need to obtain the certifications from the government and other regulatory bodies which is time consuming process, this will have a direct impact on the bulk production of organic infant formula. Nevertheless, all these factors are boosting the global organic infant formula market to grow at the CAGR of 14.16% during the forecast period of 2017-2023.
Major Key Players
The leading market players in the global Organic Infant Formula Market primarily are Abbott Nutrition Manufacturing Inc. (U.S.), HOLLE baby food GmbH (Switzerland), Bellamy’s Organic Pty Ltd. (Australia), ZUIVELCOÖPERATIE FRIESLANDCAMPINA U.A. (the Netherlands), BEINGMATE Baby & Child Food Co., Ltd. (China), Hain Celestial Group, Inc. (U.S.), HIPP GmbH & Co. VERTRIEB KG (Germany)
The global organic infant formula market is segmented into North America, Europe, Asia Pacific, and Rest of the world. Among these, Asia Pacific is projected to retain its dominance throughout the forecast period owing to healthy economic growth and increasing health conscious population. Asia Pacific region is estimated to reach USD 3998.67 million by 2023. However, rest of the world including countries such as Latin America, the Middle East, Africa and others is projected to expand at a moderate CAGR of 13.80% during the forecast period 2017-2023.
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Global Organic Infant Formula Market has been segmented on the basis of type such as starting milk formula, follow-on milk formula, special milk formula, and others. The starting milk formula segment is projected to account maximum market proportion and projected to grow at CAGR of 14.74% during the forecast period. On the basis of formulation, the global organic infant formula market is segmented into powdered formula, concentrated liquid formula, ready-to-feed formula, and others. Among all type of formulations, powdered formula is estimated to witness the highest growth at a CAGR of 13.94% during the forecast period of 2017-2023. On the basis of distribution channel, the global organic infant formula market is segmented into store based and non-store based. Among both, store-based segment is estimated to witness the highest growth at a CAGR of 114.169% during the forecast period of 2017-2023.
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