Urbanisation, health awareness and childhood obesity are driving growth in the $53.5 billion global early nutrition market, according to a new report from food and beverage industry consultancy Zenith International.
The report on early nutrition innovation identifies key trends, opportunities and challenges within both the infant formula and infant food segments. Products are analysed in terms of several themes, including convenience, organic, health, dairy alternatives and special need formulae.
Among other points highlighted by Zenith’s report are that the Asia-Pacific region is leading on infant formula sales, totalling $35 billion; North America and Europe still account for half of global demand for infant food, valued at $18.5 billion; and that the infant formula segment is led by global businesses such as Mead Johnson, Danone, Nestlé and Abbott Laboratories, with more emerging companies driving new product launches and innovations in infant food.
“Understandably, parents want to offer the most beneficial products to their infants. They are not willing to compromise on product quality. These factors underpin strong market growth,” commented Zenith chairman Richard Hall.
“Our 2016 report offers a valuable understanding of both the infant formula and infant food segments, profiling the most innovative product developments around the world.”
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