Infant formula is an engineered food product used as a substitute for human breast milk. One of the most complex products in food and beverages industry, infant formula requires very specific manufacturing capabilities and sophisticated quality assurance protocols. According to the World Bank, the percentage of working female population across the world rose by 4% during the period of 1990 to 2013. Rising number of female working professionals is boosting the global infant formula market. Increasing cases of unwanted lactation, lack of support from lactation experts, and unsupportive work policies are some of the factors contributing to growing adoption of infant formula.
Rise in disposable income in developing and developed regions, along with increasing acceptance of working women for prepared baby foods is also a motivator for the infant formula market. Health and nutritional benefits of infant formula along with rising number of physicians recommending using it as substitute for breast milk for children above the age of 6 months is anticipated to boost the market.
On the downside, to obtain approval for the production of infant formula is a potential barrier for aspiring players in the market. Since infant formula is given to babies during very early stages in life, governments across the world have implemented stringent regulations to assure safety and quality of the produced baby food products. Easy availability of FDA approved and clinically safe infant formulas through supermarkets, hypermarkets, and e-commerce portals in anticipated to bolster the growth in the market. However, the decline in global birth rate may hamper the growth in infant formula market.
Manufacturers are focused on developing new types of infant formulas that can enhance and ensure infant’s health. For example, in February of 2020, a producer and distributor of food products called ‘Else Nutrition’ announced the launch of their 100% plant-based and organic infant formula. Various infant formulas are supplemented with probiotics that help in prevention of diarrhea, lower the risk of food allergies, and ease colic in babies.
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