Infant formula ingredients market is anticipated to grow at a considerable CAGR of 7.1% during the forecast period. Product innovations and technological improvements are expected to be the primary drivers of market growth. The increasing awareness in developing economies regarding the importance of adequate nutrition for the healthy growth of infants is a key factor promoting the growth of the infant formula ingredients market. Additionally, infant formula brands are adding various organic ingredients to their product following the trend of organic food which is also anticipated to drive the infant formula ingredients market during the forecast period.
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Extensive R&D by key manufacturers involved in the infant formula ingredients to develop ingredients as per consumer expectations is further contributing to the market growth. For instance, in 2019, Nestlé S.A. opened a new R&D center in Ireland. The company made an investment of $30.0 million for the same. The center will focus on developing products for infant nutrition. However, contamination of infant formula with harmful ingredients is witnessed in both developed and developing regions. Infant formulas often contain small ingredients known as nanoparticles, which pose a threat to human health.
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By Ingredient Type (Carbohydrates, Oils & Fats, Protein, Vitamin, Minerals, Prebiotics),
By Source (Cow, Milk, Soy, Protein Hydrolysates),
By Application (Growing-up Milk, Standard Infant Formula, Follow-on Formula, Specialty),
Market Players Outlook
The major companies serving the global infant formula ingredients market include BASF SE, Koninklijke DSM N.V., and Arla Foods amba, among others. The companies are focusing on product innovation, technology advancements, expansions, mergers and acquisitions, and finding a new market or innovation in their core competency to expand individual market share.
The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global infant formula ingredients market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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