Growing infant population, rising population of working mothers, increasing cases of breast cancer and rice based infant formula is widely accepted as non-allergic product are the main drivers for global rice based infant formula market. Whereas, growing economies and disposable income in emerging regions and increasing awareness regarding importance of nutrition for infants are acting as the opportunities for the rice based infant formula market.
Global rice based infant formula market is projected to register a healthy CAGR of 5.4% in the forecast period 2019 to 2026.
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Global Rice Based Infant Formula Market By Type (Formulated, Unformulated), Product Type (Standard Formula, Toddler Formula, Follow-On Formula, Special Formula), Form (Non-GMO, GMO), Infant Age (6-12 Months, 0-6 Months, 1-3 Years), Distribution Channel (Store-Based Retailer, Non-Store Retailer), Geography (Asia-Pacific, Europe, North America, South America, Middle East & Africa) – Industry Trends and Forecast to 2026 The foods which are used by the babies during the first months of their life for satisfying themselves with the nutritional requirements until the introduction of the appropriate complementary feeding are known as infant formula. The infant formula was earlier available only through physicians when it first appeared during the late 1800s. During the 1950s, the development of infant formula grew gradually and it became the choice of feeding method in the developed world. In the early 1970s, over 75% of babies in the U.S. were formula-fed. In the late 1900s, the toddler formula appeared. There are various types of infant formula which are available for babies.
Segmentation: Global Rice Based Infant Formula Market
The global rice based infant formula market is segmented into five notable segments which are type, product type, form, infant age and distribution channel.
- On the basis of type, the market is segmented into unformulated and formulated. The formulated segment is further sub-segmented into vegetables, fruits and cereal. The vegetables segment is further sub-segmented into sweet potato, spinach, pumpkin and others. The fruits segment is further sub-segmented into apple, banana, orange, strawberry and others. The cereal segment is further sub-segmented into wheat, oat, barley, corn and others. Formulated are growing at the highest CAGR of 5.6% in the forecast period of 2019 to 2026.
- In June 2017, Mead Johnson Nutrition Company merged with Reckitt Benckiser Group plc. This merger with Reckitt Benckiser Group will act as recognition for the strong growth and the geographic expansion of Mead Johnson business.
- On the basis of product type, the market is segmented standard formula, toddler formula, follow-on formula and special formula. Standard formula is growing at the highest CAGR of 5.8% in the forecast period of 2019 to 2026.
- In March 2019, Abbott was presented at the Barclays Global Healthcare Conference which was held on 13th March, 2019. This would help in enhancing the customer base of the company.
- On the basis of form, the market is segmented into Non-GMO and GMO. Non-GMO is growing at the highest CAGR of 5.6% in the forecast period of 2019 to 2026.
- In January 2019, Abbott was presented at the 37th Annual J.P. Morgan Healthcare Conference which was held on 8th January, 2019. This would help in enhancing the customer base of the company.
- On the basis of infant age, the market is segmented into 0-6 months, 6-12 months and 1-3 years. 6-12 months is growing at the highest CAGR of 5.6% in the forecast period of 2019 to 2026.
- In January 2019, Nestlé expanded their business by opening its first R&D centre in Ireland. This new research and development centre will help in focusing on the scientific research for supporting the improvements in the development of the milk based infant and maternal nutrition products. This would help in producing a wide range of the better quality milk powder products for young children, mothers and infants.
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- On the basis of distribution channel, the market is segmented into store-based retailer and non-store retailer. The store-based retailer segment is further sub-segmented into grocery stores, supermarkets/hypermarkets, convenience stores, specialty stores and wholesalers. The non-store retailer segment is further sub-segmented into online and vending. Store-based retailer is growing at the highest CAGR of 5.7% in the forecast period of 2019 to 2026.
- In April 2017, Danone completed the acquisition of WhiteWave. The WhiteWave and Danone will combine their activities in the North America for operating as a single strategic business unit known as “DanoneWave”. This would help in enhancing the product portfolio of the company and leveraging the consumer trends related to eating and drinking choices.
Competitive Analysis: Global Rice Based Infant Formula Market
Some of the major players operating in the global rice based infant formula market are Scientific Brain Nutraceutical Pvt. Ltd., Bellamy’s Organic, Abbott, Nestlé, Bayer, BIMBOSAN AG, BALACTAN NUTRITION S.L., Parent’s Choice Infant Formula, Danone, SAVENCIA SA, Mead Johnson & Company, LLC. and others.
- In 2018, BIMBOSAN AG relaunched various products which do not consist of any added sugar. This would help in enhancing the product portfolio of the company and would enhance the customer base of the company.
Research Methodology: Global Rice Based Infant Formula Market
Key Opinion Leaders (KOL’s): Doctors, Surgeons, Researchers, Medical and Industrial Professionals.
Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and National Sales Managers.
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