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The plant-based protein products market for infants size is projected to increase by USD 611.18 million, at a CAGR of 7.66% between 2023 and 2028
The North American market for plant-based protein products for infants is poised for moderate growth, influenced by the low birth rate. While breastfeeding is recommended, infant formula supplementation is prevalent in the US. Parental preference for additive-free, natural ingredients in plant-based protein products drives sales, particularly in the US and Mexico. Rising health concerns among parents about food safety contribute to increased spending on organic, hypoallergenic, and non-GMO baby food. Abbott Laboratories, with offerings like Ensure Plant-Based Protein Nutrition Shake, addresses consumer trends, providing gluten-free, lactose-free options supporting muscle health in infants. This aligns with global forecasts and evolving consumer preferences.
The Plant-based Protein Products Market for Infants shows an accelerated CAGR during the forecast period.
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The rise in number of working women is notably driving the market growth. The increase in the number of working women worldwide has accelerated the demand for plant-based protein products for infants. Factors such as the increasing pace of urbanization and expanding middle-class population around the world have encouraged the adoption of convenience-oriented lifestyles, which has significantly contributed to the demand for plant-based protein products for infants among working women. The increase in the number of working women has also led to a subsequent rise in the number of dual-income households, which has effectively contributed to the high average income per household and, in turn, will influence the growth of the plant-based protein products market for infants.
Moreover, concerning convenience, plant-based protein products for babies, like infant formula, can be fed anywhere at any time, making it a convenient alternative for mothers who are not able to pump breast milk for the day. In addition, infant formula in bottles can be fed by both parents and caregivers. Therefore, a rise in the number of working women will drive the growth of the global plant-based protein products market for infants during the forecast period.
The growing popularity of organic baby food products is an emerging trend shaping the market growth. Growing awareness of the detrimental effects of harmful chemicals and preservatives has resulted in more parents opting for organic baby foods. With increasingly polluted environments and habitats, there is growing anxiety among parents about the safety of the products their infants consume. A preference for organic baby products among parents stems from a concern for the health and general well-being of the infants. Organic products have garnered much attention in recent years as they are free from chemicals, pesticides, preservatives, hormones, and antibiotics.
Moreover, many stipulations govern the manufacturing, packaging, and labelling of organic baby foods. All cereals used in organic baby food products are grown without using chemical fertilizers or pesticides. The dairy and poultry products are derived from livestock that is fed on organic feed and not administered growth hormones. Therefore, the growing popularity of organic baby food products will drive the growth of the global plant-based protein products market for infants during the forecast period.
The declining birth rate is a significant challenge hindering market growth. Despite the reduction in infant mortality rates worldwide, the global birth rate has been steadily declining over the years. Most developed nations, such as the US and Canada, have a low birth rate, which is expected to decline further during the forecast period. The birth rates in countries such as Germany, Italy, Spain, Belgium, and Sweden are declining. Such falling birth rates have significantly hindered the growth of the global plant-based protein products market for infants.
Further, one of the major reasons for a growing number of women delaying or completely opting not to have children is the high costs associated with raising a child. Hence, given the present scenario, declining birth rates worldwide are expected to have a considerable impact on the growth of the overall market. Therefore, the declining birth rate will hinder the growth of the global plant-based protein products market for infants during the forecast period.
Soybean is a type of legume that is rich in protein, vitamin C, and folate. It is a good source of iron, fiber, calcium, magnesium, potassium, phosphorus, and omega-3 fatty acids. Soybean is used for preparing numerous products, including soymilk, soy flour, tofu, tamari, tempeh, edamame, miso, natto, and teriyaki. One of the major applications of soy-based protein ingredients is in infant formulas. Further, soy protein isolate (SPI) is one of the purest forms of soy protein that has been isolated from soybeans and contains a protein content of around 90%-95%, which is nearly fat-free. The high demand for SPI is mainly due to its varied functional and nutritional benefits. Therefore, the high demand for soy-based protein products will drive the growth of the soy-based protein products segment of the global plant-based protein products market for infants is expected to witness a steady growth rate during the forecast period.
The market share growth by the offline segment will be significant during the forecast period. The various types of offline channels are hypermarkets, supermarkets, and grocery and convenience stores. Organized retailing, which includes hypermarkets and supermarkets as two of the major offline distribution channels of plant-based protein products for infants, eases the purchasing process for consumers. It enables them to choose from a diverse range of plant-based protein products for infants.
The offline segment was the largest and was valued at USD 732.72 million in 2018
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Additionally, the major factors expected to drive the growth of the offline segment is the expansion of hypermarkets and supermarkets worldwide. As these retailers have a global presence, they help improve the visibility of vendor products and increase the demand for such products. Grocery and convenience stores are mainly region-centric. Some of the popular convenience store chains offering plant-based protein products for infants are 7-Eleven Inc. (7-Eleven) in the US and FamilyMart Co. Ltd. (FamilyMart) in Japan. Owing to proximity, some consumers have a higher propensity to purchase from convenience stores as compared with hypermarkets, supermarkets, or other e-commerce platforms. The ease of availability of products across platforms and the easy accessibility to outlets with a broad merchandise mix is estimated to drive this offline segment of the global plant-based protein products market for infants during the forecast period.
North America is estimated to contribute 35% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The major markets in North America include the US, Mexico, and Canada. Despite Canada's declining birth rate, other demographic changes and shifts in consumer behaviour have supported the demand for baby food in the country. Factors such as the constantly growing demand for organic food, an increase in the number of new migrants, and a reported increase in the child population affected by food allergies will impact the market growth and trends of the market in the country in the future. In the US, the vendors are focusing on product innovations. Besides product innovation, they are also continually introducing novel concepts in packaging, like high-pressure processing (HPP) and custom glass jars, to enhance product safety and gain consumer interest.
However, increased emphasis on the merits of breastfeeding and the significance of healthier homemade foods instead of packaged baby foods has compelled consumers to shift towards homemade baby foods, resulting in a lower market research and growth rate in the plant-based protein products market for infants in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market forecasting growth and market growth analysis.
The Plant-based Protein Products Market for Infants market growth and forecasting market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including Abbott Laboratories, Archer Daniels Midland Co., Batory Foods, Cargill Inc., COSUCRA, DuPont de Nemours Inc., Emsland Starke GmbH, Glanbia plc, Ingredion Inc., Kerry Group Plc, Koninklijke DSM NV, Nestle SA, Plantible Foods Inc., Puris, Roquette Freres SA, Royal Avebe, Sofina SA, The Hain Celestial Group Inc., The Scoular Co., and Wilmar International Ltd.
Plant-based Protein Products Market for Infants Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The plant-based protein products market for infants research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest market trends and analysis and growth opportunities from 2018 to 2028.
Plant-based Protein Products Market For Infants Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.66% |
Market Growth 2024-2028 |
USD 611.18 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.46 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Archer Daniels Midland Co., Batory Foods, Cargill Inc., COSUCRA, DuPont de Nemours Inc., Emsland Starke GmbH, Glanbia plc, Ingredion Inc., Kerry Group Plc, Koninklijke DSM NV, Nestle SA, Plantible Foods Inc., Puris, Roquette Freres SA, Royal Avebe, Sofina SA, The Hain Celestial Group Inc., The Scoular Co., and Wilmar International Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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