Growing-up Milk Market 2022 - By Source (Plant-Based Milk, Animal-Based Milk), By Form (Powder, Liquid), By Sales Channel (Departmental Stores, Modern Trade Channels, Specialty Stores, Drug Stores, Convenience Stores
Undernutrition of babies has been a serious concern across the globe, and milk formulas are being used to tackle these issues for many decades. Growing up milk formula is a more than 20 billion industry and is poised to grow at an unprecedented rate in coming years owing to its nutritional benefits among toddlers. Parents across the globe are increasingly opting for breast milk substitutes such as cow milk, formulas, and others. With strong advertisement spending within the industry, growing-up milk has already gained remarkable attention among parents. However, recent law & regulation restriction has adversely affected the growth of the industry across the globe.
Growth Drivers – Growing-up Milk Market
Balanced Nourishment of Young Children’s
According to the European Food Safety Authority (EFSA), follow-up formulas and growing-up milk are one of the several means to increase intakes of critical nutrients in young children, along with the contribution from other sources, such as fortified cow’s milk, fortified cereals, and cereal-based foods. Further, increase in intakes of critical nutrients can help the market to grow at a significant rate in the near future. In many Asian countries, children are given cereals or starchy roots & tubers as a basis for gruels, which have a low-energy-density and micronutrient content. Also, the Asian toddlers switch towards the table foods and eventually share family meals, which is low in iron & zinc-rich foods and can cause perpetuate micronutrient deficiencies. Due to which the growing-up milk along with additional nutrients, vitamins, and minerals is the best option for infants. Further, growing awareness regarding growing-up milk products is expected to drive the growth of the market in such regions.
Advantages of Growing-up Milk Products
The easy availability of the product and complementary feeding are some of the significant factors which are encouraging the growth of the growing-up milk products. Additionally, the availability of different food varieties coupled with its ease of use during traveling is expected to have a positive impact on the growing up milk market. Also, the increasing investment in research & development activities to develop high-end user products are the major factors that are positively influencing the growth of growing-up milk market. For instance, on February 1st, 2017, Mead Johnson Nutrition Company (MJN), one of the leading players in the growing-up milk market, announced its merger with a British consumer goods company Reckitt Benckiser Group plc (RB). Further, the company announced that it would add its growing-up milk product brands Nutramigen and Enfa to the consumer health product portfolio of RB.
Barriers – Growing-up Milk Market
Consumers Still Believes on Cow Milk
Many believe that growing-up milk is no better for the child than cow's milk. A significant part of mother population switch to cows' milk, when their babies turn a year old believing, it is ok to go for regular milk. Many consumers turn to regular cow milk and solid foods to fulfil the nutrition needs of their babies. Such inclination towards cow milk is likely to hinder the growth of growing up milk market in coming years.
The growing-up milk source market is segmented into plant-based milk and animal-based milk. Among this segment, animal-based milk segment is expected to grow at a CAGR of 17.0% from 2022 to 2027. Further, the global market for animal-based milk segment is anticipated to reach USD 45,310.3 Million by the end of 2027. In addition to this, the global market for animal-based milk segment value is projected to witness a Y-O-Y growth of 19.6% in 2027 as compared to previous years. By form, the market is divided into powder and liquid, out of which, powder segment is expected to register a higher revenue share in the global growing-up milk market over the forecast period.
Moreover, based on packaging type, the growing-up milk market is further sub-segmented into aseptic cartons, bottles, pouches & sachets, cans, and others. Among this segment, cans segment is expected to grow at a CAGR of 16.9% over the forecast period i.e., 2022-2027. In terms of value, the global growing-up milk market for cans segment is estimated to be USD 12,505.6 Million in 2021 and is anticipated to reach USD 31,082.0 Million by the end of 2027. Also, the market is segmented by sales channel into departmental stores, modern trade channels, specialty stores, drug stores, convenience stores, online sales and other sales channels, out of which, modern trade channels segment has acquired lion market share and is expected to grow at a CAGR of 17.7% from 2022 to 2027.
Geographically, the report offers analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In growing-up milk market, Asia Pacific is projected to capture a market share of 62.2% in 2027. Asia Pacific growing-up milk market is expected to reach USD 32,417.0 Million by the end of 2027 from USD 12,456.7 Million in 2021. In addition to this, Asia Pacific growing-up milk market is expected to grow at a CAGR of 17.8% from 2022 to 2027.
The report also covers detailed competitive analysis of major market players of global growing-up milk market, such as Nestle SA, Danone SA, Abbott Laboratories, Mead Johnson & Company, Kraft Heinz Corporation, The Hain Celestial Group, Inc., Töpfer GmbH, Meiji Holdings Corporation, Royal FrieslandCampina N.V., Hero Group and others key players. The growing-up milk market is witnessing a wide range of industry activities such as product launch, acquisition, partnership and expansion across the globe. For instance, in November 2019, Hero Group entered a partnership with German organic baby food company Goodforgrowth GmbH. This partnership helped the company to strengthen its product portfolio and also helped to enter into German market.
Timeline Considered for Analysis:
- 2021: Base Year
- 2022: Estimated Year
- 2022 to 2027: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global growing-up milk market by the following segments:
- Sales Channel
- Packaging Type
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Growing-up Milk Industry Report
- What is the overall market size in 2021? What will be the market growth during the forecast period i.e. 2022-2027?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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Global growing-up milk market, 2022-2027, is a market research report by KD Market Insights that offers extensive and highly detailed current and future market trends in the global and regional/market. The report offers market size and structure of the overall industry based upon a unique combination of industry research, fieldwork, market sizing analysis, and our in-house expertise.
The market research report demonstrates market dynamics including growth drivers, barriers and opportunities and trends spearheading current nature and future status of this market. The report is supplemented with various indicators which are believed to propel the growth of the market during the forecast period.
In Addition, Porter’s Five Forces analysis demonstrates the five forces i.e. buyers bargaining power, suppliers bargaining power, threat of new entrants, threat of substitutes, and degree of competition in growing-up milk market. The report also offers value chain analysis for the growing-up milk market.
Global Growing-up Milk Market Size & Forecast
The report reviews the preliminary estimates for 2020 and forecasts for growth in growing-up milk demand for 2019-2025. It analyses the market by geographies i.e. North America, Europe, Asia Pacific, Latin America & Middle East & Africa. Further, the geographies are fragmented into country and regional groupings:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
Market Analysis by Segments:
- Plant-Based Milk
- Animal-Based Milk
By Sales Channel:
- Departmental Stores
- Modern Trade Channels
- Specialty Stores
- Drug Stores
- Convenience Stores
- Online Sales
- Other Sales Channels
By Packaging Type:
- Aseptic Cartons
- Pouches & Sachets
Along with figures and tables, a market attractiveness and BPS analysis has been provided for every segment in the report.
Global Growing-up Milk Market: Competitive Landscape
The report also highlights the competitive landscape of the global growing-up milk market, positioning of all the major players in industry. Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development expansion and other market activities.
The research study includes profiles of leading companies operating in the global growing-up milk market. Some of the key players profiled include Nestle SA, Danone SA, Abbott Laboratories, Mead Johnson & Company, Kraft Heinz Corporation, The Hain Celestial Group, Inc., Töpfer GmbH, Meiji Holdings Corporation, Royal FrieslandCampina N.V., Hero Group and others key players.
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