The latest market report published by Credence Research, Inc. “Global Hypoallergenic Infant Formula for CMPA Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027”. The Hypoallergenic Infant Formula for CMPA market was valued at USS 5,096 million in 2020 and expected to grow at a CAGR of 12.7% during the forecast period from 2021 to 2027 to reach around USD 12,541 million in 2027.
Global Hypoallergenic Infant Formula for CMPA Market, 2015 – 2027 (USD Million)
Browse the full report at https://www.credenceresearch.com/report/hypoallergenic-infant-formula-for-cmpa-market
Hypoallergenic infant formula is typically manufactured in such a way that its boosts resistance in infants against any kind of allergies. This type of formula is highly prescribed for infants who have hereditary problem of critical allergies. There are generally five types of hypoallergenic infant formula which include extensively hydrolyzed formula, amino acid based elemental formula, soy-based formula, rice-based formula and others. Rising health related problem among infant is strengthening the demand for hypoallergenic formula among parents and is anticipated to bolster the market in future.
Key Trends in Global Hypoallergenic Infant Formula for CMPA Market
Rising Health Concerns Among Parents
Over the past few years, it has been notified that parents are becoming more conscious about the health of their infants. Thus, parents are picking up optimal health nutrition-based products for their babies in order to ensure proper growth of health and sound development of the entire body. Besides this, it has also been observed that they are ready to spend on well-quality expensive baby foods. Increasing incidences of cow’s milk energy amongst infant has impelled the concern of parents towards their baby. This has intensified the demand for hypoallergenic infant formula and has strengthened the growth of the market
Increasing cardiovascular diseases which involve heart and blood vessels such as coronary artery diseases, stroke, rheumatic heart diseases, and others has intensified the consumption of naturally sourced nutritional supplements. Thus rising incidences of cardiovascular diseases all across the globe is anticipated to expand the growth of naturally sourced nutritional supplements market over the period 2016-2023
Impact of COVID 19 on Global Hypoallergenic Infant Formula for CMPA Market
COVID 19 has left an unparalleled impact on growth of global Hypoallergenic Infant Formula for CMPA industry. The global Hypoallergenic Infant Formula for CMPA has witnessed very severe setback like never before. The demand for Hypoallergenic Infant Formula for CMPA is expected to be plunged by almost 20% in 2020, in terms of both volume as well as revenue. However, with the beginning of unlock process across the world and anticipation of COVID 19 vaccine to be launched during first half of 2020 is expected to bring recovery in demand for Hypoallergenic Infant Formula for CMPA.
Pre and Post COVID 19 Global Hypoallergenic Infant Formula for CMPA Market, 2019 – 2027 (USD Million)
Global Hypoallergenic Infant Formula for CMPA Market by Type Insights
Based on its type, the global Hypoallergenic Infant Formula for CMPA market can be segmented into Extensively Hydrolyzed Formula, Amino Acid Based Elemental Formula, Soy-Based Formula, Rice-Based Formula and Other Milk Sources. Extensively Hydrolyzed Formula captured the maximum share in the revenue of hypoallergenic infant formula all over the world in 2020. These formula comprises of cow’s milk protein that have been significantly broken down so they are less likely to cause an allergic reaction. Hydrolyzed formula helps in easing common behavior of digestive discomfort which includes gas and fussiness and has gentle protein which provides complete nutrition.
Global Hypoallergenic Infant Formula for CMPA Market Share by Type, 2020
Global Hypoallergenic Infant Formula for CMPA Market by Regional Insights
Asia Pacific accounted for largest share in 2020 and was closely followed by the North America and Europe. The key factors assisting the growth of hypoallergic infant formula are economic growth of developing countries, large baby population and growing number of working women. New product development is another factor contributing towards market growth. The U.S. market is an oligopolistic one, dominated by two competitors, Abbott and Mead Johnson, accounting for highest share of the market. The market experts suggested that good packaging not only tells the story of the product contained within, but also protects the product during transportation and use, and it should be cost-effective, functional and innovative so that the product and the brand can be differentiated from the competition. In the baby food industry, product availability and retail shelf space plays a very vital role in creating demand for the product. Distribution is a key success factor in the current baby food industry.
Global Hypoallergenic Infant Formula for CMPA Market Share by Region, 2020
Strong growth prospects in emerging economies
The continuous development in emerging economies, increasing expenditure, fast development of domestic infrastructure and increasing international trades will open potential opportunities for hypoallergenic infant formula products manufacturers in the market. The demand for hypoallergenic infant formula is currently highest in Asia Pacific and North America. The market is expected to observed stupendous growth in Latin America and Middle East region over the forecast period.
Global Hypoallergenic Infant Formula for CMPA Market Competitive Landscape
Key players operating in the field of manufacturing Hypoallergenic Infant Formula for CMPA including but not limited to Nestlé Health Science, Abbott, DANONE, Mead Johnson & Company, LLC , Synutra International, Inc., Töpfer GmbH, Meiji Holdings Co., Ltd and Hain Celestial.
Global Hypoallergenic Infant Formula for CMPA Market, Company Share 2020
Global Hypoallergenic Infant Formula for CMPA Market by Type, 2015 – 2027
· Extensively Hydrolyzed Formula
· Amino Acid Based Elemental Formula
· Soy-Based Formula
· Rice-Based Formula
· Other Milk Sources
Global Hypoallergenic Infant Formula for CMPA Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Global Hypoallergenic Infant Formula for CMPA Market: Key Players
· Nestlé Health Science
· Mead Johnson & Company, LLC
· Synutra International, Inc.
· Töpfer GmbH
· Meiji Holdings Co., Ltd
· Hain Celestial