Infant Milk Formula Market Driven By Increasing Consumer Awareness of Healthy Nutrients

Infant milk formula is a type of food used for feeding babies below the age of 1 year. Infant milk formula food is used solely for infants. The infant milk formula simulates human milk and, thus, is used as a substitute for human milk. Starting milk formula, follow-on milk formula, and toddlers milk formula are among the various types of infant milk formula in the market. Infant milk formula includes all essential nutrients and energy required by infants to grow and develop normally. The most commonly used infant milk formula contains proteins such as whey and casein, vegetable oils, lactose, and other ingredients.

The MENA infant milk formula market is anticipated to grow from US$ 1,744.3 Mn in 2014 to US$ 4,219.3 Mn by 2021, expanding at a CAGR of 13.5% in terms of revenue during the forecast period (2015–2021). Rising popularity of the infant milk formula in the MENA region and increasing consumer awareness regarding the requirement of healthy nutrients for an infant are the factors anticipated to fuel growth of the infant milk formula segment over the forecast period. Rising number of working women and rapid economic development in the MENA are factors driving the overall growth of the infant milk formula market in the region currently.

In 2014, the starting milk formula segment was valued at US$ 886.3 Mn and it is expected to account for US$ 1,007.9 Mn by the end of 2015. The follow-on milk formula segment was valued at US$ 505.2 Mn in 2014 and is expected to reach US$ 571.5 Mn by the end of 2015. The toddlers milk formula segment was valued at US$ 352.7 Mn in 2014 and is expected to reach US$ 396.9 Mn at the end of 2015.

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In 2014, the online retail segment was valued at US$ 33.7 Mn and is expected to reach US$ 39.1 Mn by the end of 2015. The segment is expected to register the highest CAGR of 16.2% over the forecast period, followed by the supermarkets segment in terms of value. Online retail business is rapidly growing in the MENA region. There are various brands of infant milk formula that are available through online portals. In 2014, the supermarkets segment was valued at US$ 185.6 Mn and is expected to reach US$ 211.3 Mn by the end of 2015. The segment is expected to register a CAGR of 14% in terms of value over the forecast period. In 2014, the chemists/pharmacies/drugstores segment was valued at US$ 1,266.8 Mn and is expected to reach US$ 1437.6, Mn by the end of 2015. Consumers in the MENA region perceive drugstores, chemists, and supermarkets as the trusted sources for buying infant milk formula. The segment is expected to register a CAGR of 13.7% in terms of value over the forecast period. In 2014, the specialty outlets segment was valued at US$ 89.7 Mn and is expected to reach US$ 100.6 Mn by the end of 2015. The segment is expected to register a CAGR of 12.3% over the forecast period in terms of value. In 2014, the others segment was valued at US$ 168.5 Mn and is expected to reach US$ 187.7 Mn by the end of 2015. The segment is expected to register a CAGR of 11.4% in terms of value over the forecast period.

Key players in the MENA Infant milk formula market include Groupe Danone, Aspen Pharmacare Holdings Limited, Almarai, Nestlé S.A., Behdashtkar, Lacto Misr, Nutridar Company Plc, Ausnutria Hyproca B.V., Saudi Centre Group, Abbott Laboratories, RIRI Baby Food Co.