The global RTD infant milk market was valued at over USD 3 billion in 2016 and is expected to reach almost USD 4 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global RTD infant milk market to its non-alcoholic beverages portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Abbott Laboratories, Danone, Mead Johnson Nutrition, and Nestlé.
According to Poonam Saini, a lead analyst for non-alcoholic beverages research at Technavio, “The increasing demand from parents for different variants will encourage vendors to launch a wide range of baby foods and infant formulas in the market. The availability of different product portfolios will augment the growth and help consumers choose a formula as per their needs and requirement.”
The various requirements of the consumers include different formulas, different sizes, genders, age groups, variants of flavors, and product packaging. Introducing products that meet various customer requirements will help manufacturers increase their consumer base and profitability. Leading vendors like Abbott, Mead Johnson Nutrition, and Nestlé offer infant formula products with different variants under their respective flagship brands to generate more sales and revenues.
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Packaging innovations
The popularity of containers with plastic spouts on the top from which food can be sipped is primarily attributed to their ease and flexibility. The manufacturers are introducing packaging solutions that promotes independent feeding and which adapts with consumers’ on-the-go lifestyles to expand their customer base. The vendors are also launching barrier packaging that helps in keeping infant formulas safe and fresh and is convenient to use which meets the needs of both babies and parents. Some of the other packaging solutions available include items that are non-breakable, lightweight, safe and sterile, microwave-safe, and have a shelf life up to 12 months.
Increase in demand for organic and non-GMO infant formulas
The growing awareness about the benefits of natural ingredients is increasing the demand for organic baby foods on the market. Organic infant formula contains no chemicals, pesticides, preservatives, hormones, or antibiotics. Some of the manufacturers in the market are launching new lines of baby meals that derived from regional flavors and cuisines and includes an exotic range of options like kormas, moussakas, and lasagnas. The growing knowledge about the detrimental effects of harmful chemicals and preservatives will boost the demand for organic formulas in the market.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global RTD Infant Milk Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Automatic Baby Swing Market 2017-2021
- Global Baby Bottles Market 2017-2021
- Global Baby Food and Infant Formula Market 2016-2020
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