Growing
availability of amino acid-based formula in pouches, in tandem with
smaller conventional containers such as tubs, their sales have
witnessed a remarkable rise. Manufacturers are focusing on employing
innovative packaging solutions for infant formulas, such as
ready-to-use plastic bottles that facilitate firm grip. This further
appeals to convenience of busy parents, who find it hard to prepare
multiple bottles while tagging along time-constraints.
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A
recently published analytical report of Transparency Market Research
(TMR) elucidates key companies underpinning growth of the global
amino acid-based formula market, which include Nestlé S.A., Mead
Johnson Nutrition Company, Danone, Abbott Laboratories, and Ausnutria
Dairy Corporation Ltd. A key trend gaining momentum is development of
organic infant formulas based on amino acid, such as Earth’s BEST
Organic Infant Formula and Baby’s Only Organic Dairy Formula, which
meet FDA regulations for infant nutrition.
According
to the report, the global market for amino acid based formula will
register a splendid volume CAGR of 8.5% between the period 2017 and
2026. Revenues from worldwide sales of amino acid-based formula are
envisaged to close in on nearly US$ 1,900 Mn by 2026-end.
Proliferation
of Premium Products to Influence Demand
With
the rise in GHDI of consumers in developing countries such as China,
India, and Singapore, discretionary spending of households has gained
an uptick. This has significantly reflected on demand for premium
products among consumes. Parent want to offer their children with the
best provision available in the market, and premium infant formulas
are no exception.
Several
premium amino
acid based infant formula have been introduced in the market,
such as PurAmino, and The Honest Company Organic Premium Infant
Formula. Penetration of premium amino acid-based infant formula is
further expected to gain momentum, with growing cases of
hypoallergenic diseases, malabsorption, and malmetabolism among young
infants worldwide.
Increasing
Women Workforce to Create Demand
Steady
narrowing of gender gap in employment statistics and the labor market
has been recorded since the recent past. According to the
International Labor Organization (ILO), participation of women in
jobs reached nearly 50% in 2015, and the number is likely to exhibit
steady surge in the upcoming years. With the lifestyle of these women
becoming busier, its influence on birth rate as well as breastfeeding
has been remarkable. This is significantly rubbing off on demand for
infant formulas, such as amino acid-based infant formula.
With
rapid growth in health and wellness industry worldwide, probiotics
have gained a paramount importance in food products, and in infant
formulas as well. As probiotics enrich beneficial microbes in human
stomach for proper gut functioning, they are being considered as
vital ingredients in infant formulas. Recent studies have showcased
effective management of hypoallergenic diseases and modification of
gut microbiota in children when fed with amino acid-based infant
formula containing probiotics. Preference for such infant formulas
have therefore increased among parents worldwide, which in turn is
paving lucrative avenues for infant formula manufacturers.
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