The Europe baby infant formula market was valued at US$ 7,766.00millionin 2019 and is projected to reach US$ 10,299.47 million by 2027; it is expected to grow at a CAGR of 3.9% during the forecast period of2020–2027.
Baby infant formula is the food designed and marketed for feeding babies and infants, typically 0–36 months of age. It comes in varieties such as standard infant milk or starting milk formula, follow-on milk, growing-up milk or toddlers’ milk, and specialty baby milk. It contains vitamins, minerals, and iron that are necessary for the overall development of the baby. Physicians or child nutritionists recommend these infant formulae as an alternative to breast milk. These processed baby food products act as a healthy and nutritious alternative to other types of baby food products and are very convenient to use. Thus, the working parents, especially mothers, who are resuming their jobs shortly after delivery prefer these baby infant milk formula for their babies. Apart from this, change in lifestyle, rise in middle-class population, and increase in disposable income and purchasing power of people in economies, such as Germany, the UK, and France, are expected to propel the growth of the baby infant formula market during the forecast period.
Based on product type, the Europe baby infant formula market is segmented into starting milk formula, follow-on milk formula, toddlers milk formula, and special milk formula. In 2019, the follow-on milk formula accounted for the largest market share. Follow-on milk formula refers to milk formula products intended for weaned infants, typically 6–12 months of age. It consists of protein, iron, calcium, vitamins, minerals and other micronutrients, such as linoleic acid and prebiotic, that are essential for the overall development of infants. Increasing number of working mothers’ acts as a significant driver for follow-on milk formula. As most of the working mothers resume their jobs shortly after their delivery, follow-on milk formula acts as a substitution to breast milk in such cases. It offers an attractive alternative to working mothers, fulfilling their need for healthy and nutritious food for their babies. Factors such as increasing number of working mothers and growing focus on infant care & nutrition are expected to drive the growth of this segment during the forecast period.
Geographically, theEuropebaby infant formula market is segmented into Germany, France, Italy, Spain, the UK, the Netherlands, Poland, Austria, Switzerland, Sweden, Denmark, Czech Republic, Luxembourg, Russia, Ireland, Hungary, Portugal, and Rest of Europe. In 2019, rest of Europe held the largest share of the Europe baby infant formula market, followed by Germany and France. Further, Germany is expected to show remarkable growth during the forecast period. The growth of the market is attributed to rise in gross total income per capita of the country. Rise in disposable income enables consumers to spend more on specialized baby nutrition products..
Impact of COVID-19 Pandemic on Europe Baby Infant Formula Market
The COVID-19 pandemic started in Wuhan, China, during December 2019 and has spread across the world at a rapid pace. The US, India, Brazil, Russia, South Africa, Mexico, Spain, and the UKare among the most affected countries in terms of number of cases registered.COVID-19 has affected economies and undertakings due to lockdowns, travel bans, and business shutdowns. The global food &beverages industry is one of the major industries suffering due to the outbreak of COVID-19. These factors have severely affected the Europe baby infant formula market.
FrieslandCampina N.V, Dana Dairy Group Ltd, Danone SA, Holle baby food AG, Field Roast, HiPP GmbH & Co. Reckitt Benckiser (Mead Johnson & Company LLC), Nestle S.A., Ausnutria B.V. and Cremilk GmbH are among the major players in the Europe baby infant formula market.
The overall Europe baby infant formulamarket size has been derived in accordance with both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the Europe baby infant formulamarket.