The scope of our recent study on the "Human Milk Fortifier Market Forecast to 2030 - COVID-19 Impact and Global Analysis - by Form, Distribution Channel, and Geography" includes the factors fueling the market growth, revenue estimation, and forecast, market share analysis, and the identification of significant market players and their key developments.
The human milk fortifier market is expected to grow from US$ 274.67 million in 2022 to US$ 566.35 million by 2030; it is estimated to register a CAGR of 9.6% from 2023 to 2030. The human milk fortifier market growth can be attributed to the increase in preterm births. The human milk fortifier market is highly competitive, owing to many regional and global players. Players compete based on product quality, product differentiation, and price. Market players are adopting different strategies to stand out as strong competitors.
The human milk fortifier market is segmented into powder and liquid based on form. The powder segment is expected to register a higher CAGR during the forecast period. Human milk fortifiers in the powdered form supplement and enhance the nutritional content of breast milk. Fortified breast milk is prescribed to premature or medically fragile infants. People prefer powdered human milk fortifiers for convenience in storage, handling, and preparation. Moreover, they are easier to store and transport while ensuring a longer shelf life than liquid products.
The global human milk fortifier market is segmented into five central regions: North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. North America held the largest revenue share of the global human milk fortifier market in 2022. Major factors driving the human milk fortifier market in North America are growing awareness among healthcare professionals and parents about the benefits of human milk fortifiers for preterm infants.
Impact of the COVID-19 Pandemic on the Human Milk Fortifier Market
During the COVID-19 pandemic, the shutdown of manufacturing units and distribution facilities, online and offline channels, declined the demand for human milk fortifiers, which, in turn, restrained the human milk fortifier market growth. During the initial stages of the COVID-19 pandemic, human milk fortifier manufacturers were forced to scale back or halt production temporarily. However, businesses gained ground as the governments of various countries eased out the previously imposed restrictions.
Moreover, many sections of the food & beverages industry, exceptionally packaged food products, witnessed growth in demand worldwide post-recovery. As human milk fortifier production regained pre-pandemic figures and is growing continuously, the market is expected to expand significantly during the forecast period.
The report includes the segmentation of the global human milk fortifier market as follows:
The global human milk fortifier market is segmented into form, distribution channel, and geography. The human milk fortifier market is segmented into powder and liquid based on form. The human milk fortifier market is categorized online and offline based on distribution channels. The global human milk fortifier market is broadly segmented by geography into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North American human milk fortifier market is further segmented into the US, Canada, and Mexico. The Europe human milk fortifier market is sub-segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific human milk fortifier market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The Middle East & Africa market is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of the Middle East & Africa. The South & Central America human milk fortifier market is further segmented into Brazil, Argentina, and the Rest of South & Central America.