According to the latest report by IMARC Group, titled "Baby Food and Infant Formula Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global baby food and infant formula ingredients market reached a volume of 3.97 Million Tons in 2020. Baby food and infant formula refers to food products specially produced for babies. Infant formula serves as a replacement for breast milk as it contains all essential nutrients, such as docosahexaenoic acid (DHA), lutein, lactose, purified whey, casein, and vitamin E. On the other hand, baby food items are a combination of soft, mashed fruits, vegetables, vegetable oil, meats, and cereals. These ingredients aid in increasing the immunity, improving digestion, promoting brain and eye development, and providing optimum nourishment to the baby.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Baby Food and Infant Formula Ingredients Market Trends:
Increasing parental concerns regarding the health and nutritional requirements of children represent the key factor driving the global baby food and infant formula ingredients market growth. The product demand is further being escalating by the rising number of working parents, which is led by rapid urbanization and increasing spending capacities, particularly in developing countries. Additionally, leading players are continuously investing in research and development (R&D) activities to develop innovative product variants with improved taste, such as lactose-free and soy-based formulas, which is positively influencing the market growth. Apart from this, the rising establishment of efficient online retail channels is catalyzing the market growth. Looking forward, the market is expected to grow at a CAGR of 3.8% during 2021-2026.
- Based on the ingredients, the market has been classified into lactose, edible oils, maltodextrins, whey protein concentrates, glucose syrup, sucrose, starch, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being AAK AB, Agrana Beteiligungs-AG, Archer Daniels Midland (ADM), Arla Food Ingredients Group, Cargill, Inc., Glanbia plc, Ingredion Inc., Roquette Frères, Tate & Lyle PLC and Lactalis.
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