Global Infant Formula Market Report: Focus on China - New Report by Koncept Analytics
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Global Infant Formula Market - Focus on China
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The market for infant formula products is one of the major and the fastest growing segments of the overall baby foods
industry. Infant formula is either a partial or a total substitute for breast milk for infants and is recommended for feeding
during the first twelve months. Since the start of the millennium, international awareness regarding the importance of
early childhood nutrition has been on the rise. All over the world parents are becoming more concerned about the
nutritional benefit of pediatric foods and breast-milk supplements.
Increasing proportion of women participation in labor force and increased affordability supported by waning price
responsiveness and a rise in disposable income across the world are the major factors that have helped the global IMF
market to attain stronger growth levels. Though the market has been experiencing lower demand and growth from the
traditional matured markets of the West stemming primarily from declining birth rate, the developing world, especially
the Asia and Pacific region and Latin America have provided the headroom for the global market expansion. The
market is dominated by the Asian region which consumes about three-fifths of the global IMF supplies. Particularly,
China has gained the stature to maneuver the market single-handedly since the country alone accounts for about two-fifth
of the global IMF market revenues.
The report, “Global Infant Formula Market” prudently analyzes the development of the respective market, with a focus
on the single largest market, China, and other regional but important markets. The report discusses the major trends,
growth drivers as well as issues being faced by the industry. The global infant formula market is predominated by a
handful of players including Nestlé, Danone, Mead Johnson Nutrition and Abbott which keep vying for greater market
share. The profiles of these leading players are also included in the report along with their key financials and strategies
for growth. .
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have projected the
future growth of the industry. We employed various significant variables that have an impact on this industry and
created regression models with SPSS Base to determine the future direction of the industry. Before deploying the
regression model, the relationship between several independent or predictor variables and the dependent variable was
analyzed using standard SPSS output, including charts, tables and tests.
The global infant formula market remains on the uptrend driven largely by buoyant average selling price
and growing proportion of women in labor force…
In 2013, global baby food/infant nutrition market was valued at
US$… billion, an increase of …% over 2012.
The global infant formula market was valued at US$… billion
in 2013, an increase of …% over 2012.
China’s infant formula market continues to be robust and is
estimated to reach US$… billion by the year end 2014
growing by …% over 2013 level.
In volume terms, Asia consumes ...% of the global supplies
followed by the combined share of the US and EU which
stood at …% in 2013.
In value terms, China accounts for almost …% of the global
market revenues followed by major regions of the world.
2008 2009 2010 2011 2012 2013
Global Infant Formula Market (2007-2013)
Global Baby Food/Infant Nutrition Market (2008-2013)
China’s Infant Milk Formula Market (2007-2014E)
2007 2008 2009 2010 2011 2012 2013
2007 2008 2009 2010 2011 2012 2013 2014E
The global infant formula industry remains highly influenced by China’s domestic factors including lower
breastfeeding ratio, rising penetration of e-commerce and increasing ‘premiumization’ of the market …
China’s breastfeeding ratio declined from …% in 1998 to …% in
2013 against the world average of …% largely owing to changes
in lifestyle that accompanies the process of rapid urbanization.
Over the seven years starting from 2006, e-commerce has
almost doubled in its penetration reaching …% of the Chinese
population in 2012 which is likely to increase further.
Over the last five years starting from 2009, the premium segment
of the market has grown by over ….% while the low- and mid-end
segments have registered a slower growth of …% and …%
Foreign brands’ dominance over China’s e-commerce market
space is increasing at a rapid pace and in 2013, imported brands
occupied the top five spots in e-commerce with …% of the
Breastfeeding Ratio, China (1998, 2003, 2008, 2013)
1998 2003 2008 2013
E-commerce Penetration, China (2006-2012)
Growth in IMF Market Product Segments, China (2009-13)
2006 2007 2008 2009 2010 2011 2012
% Population accessing
Low Middle High Premium
Improving economic conditions, still growing numbers of child births across the developing
world, increased affordability and increasing proportion of women opting for work are the
other factors driving the global market…
World Infant Formula Market Forecasts, 2013-2017F
2013 2014F 2015F 2016F 2017F
• The global infant formula market is forecasted to grow at a CAGR of ….% and is expected to reach US$... billion by 2017.
• Rising demand from emerging economies, especially from China; waning price sensitiveness, growing proportion of working
women; increased consolidation; China’s loosened One-Child Policy and improving global economic conditions are likely to keep
the global market afloat in the medium term.
• The newer stance of Chinese authorities towards nurturing domestic market and a shift towards more expensive and premium
products is certain to provide a boost for the market for years to come.
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