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The global soy-based infant formula market size will grow by USD 277.69 million during 2019-2023. The market research report provides a detailed analysis of the market by application (12-36 months, 6-12 months, and 0-6 months) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Abbott Laboratories, Nestlé SA, Perrigo Company plc, Reckitt Benckiser Group Plc, and The Hain Celestial Group Inc.
Key Insights on the Soy-Based Infant Formula Market – Global Forecast 2019 - 2023
Browse complete ToC and LoE with selected illustrations and example pages of Soy-Based Infant Formula Market.
The increasing demand for organic infant formulas is one of the key trends contributing to the growth of the soy-based infant formula market. The rising parental concerns about the unhealthy chemical additives in store-bought baby foods are encouraging vendors to formulate organic ones, which are healthier and free from chemical agents. Organic baby foods such as soy-based infant formulas have garnered the attention of parents in recent years because of their health benefits and no side-effects. The consumption of organic infant formulas is high in the US and has started gaining prevalence in other countries as well.
The increasing number of new mothers with low production of breast milk is also one of the factors driving the growth of the market. Many new mothers are producing low breast milk because of reasons such as breast engorgement, thrush, abscess, and mastitis. Vendors capitalized on the medical concern and formulated organic baby food such as soy infant formula, which is a healthy substitute for breast milk. Soy-based infant formulas are also easy on the digestive system of babies who are lactose intolerant. The easy availability of soy-based infant formulas will increase its popularity among mothers with low breast milk production. As a result of these factors, the soy-based infant formula market is expected to register a CAGR of close to 3% during the forecast period.
The soy-based infant formula market is concentrated. The report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. The research would help clients in improving their market positions. It also provides a detailed analysis of the upcoming soy-based infant formula market trends and challenges and how they influence market growth. The research will help companies in creating effective strategies to leverage the upcoming market growth opportunities.
The report offers a detailed analysis of a few leading soy-based infant formula companies, including:
The 12-36 months segment held the highest market share in 2018. It will remain the leading market segment in 2023 as well. Soy-based infant formulas are considered a healthy choice for children above one year, who are allergic or intolerant to lactose. Soy infant foods also lower the risk of obesity in children. The majority of premature babies are lactose intolerant. The rising number of premature babies across the world will increase the demand for soy-based infant formulas over the forecast period.
North America held the largest market share in 2018. The US is the largest market for soy-based infant food in the world. The increasing number of working mothers and the rising concern regarding food safety for infants have increased the demand for soy-based infant formulas. Working mothers depend on infant formulas such as soy-based infant food for their babies. The prevailing e-commerce platforms will also fuel the growth of the soy-based infant formula market over the forecast period. North America is expected to remain dominant over the forecast period.
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY APPLICATION
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
PART 15: EXPLORE TECHNAVIO
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