Cow Milk-Based Infant Formula is a type of food formula used as an alternative for breastfeeding sourced from cow milk along with various nutrients, such as vitamins, minerals, carbohydrates, fats, linoleic acid and prebiotic, and others. These nutrients are essential for the overall development of infants. The global Cow Milk-Based Infant Formula market is being driven by growing working women in various sectors globally. For instance: according to catalyst.org, in 2019, the share of women in senior management positions globally grew to 29%. Also, according to the greatbusinessschools.org, in the United States, between 2014 and 2019, the number of women-owned companies has seen a growth rate of 3.9% annually. Another major driving factor for the market is the rising urbanization, as women have shifted to urban cities, they have become busy in their lifestyles due to the rising work pressure in the respective industries. Furthermore, the growing consciousness regarding the health of infants and the rising research and development by the companies will provide new opportunities for the global Cow Milk-Based Infant Formula industry. However, cases of contamination in the formula and the presence of strict regulations by authoritative organizations may impede market growth over the forecast period of 2021-2027.
Global Cow Milk-Based Infant Formula Market is valued approximately at USD 10.50 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 9.6% over the forecast period 2021-2027 and is estimated to reach USD 19.95 billion by 2027.
The regional analysis is segmented as the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest for the World of the global Cow Milk-Based Infant Formula Market. The Asia Pacific is the leading region across the world in terms of market share due to the rising women working for population and enhanced standards of living have stimulated product demand in the region. Whereas Rest of the World is anticipated to exhibit the highest CAGR over the forecast period 2021-2027, due to the rising births rates and the rising awareness for healthy infant food products in the region.
Major market players included in this report are Nestle, DANONE, Abbott, FrieslandCampina, Heinz, Bellamy, Topfer, HiPP, Perrigo, and Yashili.
The detailed segments and sub-segment of the market are explained below:
By Product Type: Carbohydrates, Oils & Fats, Proteins, Others
By Form: Powder, Liquid & Semi-Liquid
By Application: Growing-Up Milk, Standard Infant Formula, Follow-On Formula, Specialty Formula
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