Soy-Based Infant Formula Market by Application and Geography - Global Forecast and Analysis 2019-2023

Soy-Based Infant Formula Market by Application and Geography - Global Forecast and Analysis 2019-2023

  • June 2019 •
  • 120 pages •
  • Report ID: 5793680 •
  • Format: PDF
Global Soy-Based Infant Formula Market: About this market

Soy-based infant formulas are substitutes for human breast milk. This soy-based infant formula market analysis considers sales from applications including infants between 12-36 months, 6-12 month, and 0-6 months. Our analysis also considers the sales of soy-based infant formula in APAC, Europe, North America, South America, and MEA. In 2018, the infants between 12-36 months segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the ability of soy-based infant formulas to lower the risk of heart problems and obesity in children falling under this age group will play a significant role in the infants between 12-36 months segment to maintain its market position. Also, our global soy-based infant formula market report looks at factors such as the increasing number of mothers with low production of breast milk, rising number of working women, and growing preference for online shopping. However, declining birth rates, allergic and health issues from soy-based infant formulas, and increasing preference for breastmilk may hamper the growth of the soy-based infant formula industry over the forecast period.

Global Soy-Based Infant Formula Market: Overview

Increasing number of mothers with low production of breast milk

Medical concerns regarding the low breast milk production among many new mothers caused by breast engorgement, thrush, abscess, and mastitis have encouraged vendors to introduce formulated organic baby food such as soy infant formula. The sales volume of soy-based infant formulas is increasing because they are easily available and suitable for babies who are lactose intolerant. This will lead to the expansion of the global soy-based infant formula market at a CAGR of close to 3% during the forecast period.

Increasing demand for organic infant formulas

Vendors are coming up with organic baby foods, which are free from chemical agents. This is due to the growing concerns among parents about the presence of unhealthy chemical additives in store-bought baby foods. Soy-based infant formula is an example of organic baby food product, which has health benefits and no side-effects. The availability of such organic baby food products is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global soy-based infant formula market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of a few major players, the global soy-based infant formula market is concentrated. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading soy-based infant formula manufacturers, that include Abbott Laboratories, Nestlé SA, Perrigo Company plc, Reckitt Benckiser Group Plc, and The Hain Celestial Group Inc.

Also, the soy-based infant formula market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.