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Organic Infant Formula Market Update, Key Players Analysis 2020 to 2023

iCrowdNewswire   Jan 12, 2021  4:19 PM ET

Market Overview

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.

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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)

Regional Analysis

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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Industry Segments

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.

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