Report : Asia Pacific Probiotic Infant and Child Formula Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Infant Formula (0-1 Year), and Growing-Up Formula (1-6 Years)), and Distribution Channel (Online, and Offline)
At 14.4% CAGR, the Asia Pacific Probiotic Infant and Child Formula Market is speculated to be worth US$ 20,548.46 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific probiotic infant and child formula market was valued at US$ 9,175.81 million in 2022 and is expected to reach US$ 20,548.46 million by 2028, registering an annual growth rate of 14.4% from 2022 to 2028. Growing focus on infant care and nutrition and surge in working women population are the critical factors attributed to the market expansion.
In recent years, there has been an increased focus on infant care and providing the optimum amount of nutrition to the child as it will boost the child’s early development. Further, different brain processes such as myelination will require different nutrients, and the deficiency of such nutrients during the peak growth period will have a detrimental impact on the child. Thus, the need for the right nutrient at an early stage of a child’s life is driving the demand for probiotic infant and child formula. Parents are increasingly providing probiotics and vitamin supplements to their children to improve their digestive health, general health, immune system, and heart health. Furthermore, the inclusion of probiotics in infant formulas promotes a balance of good bacteria in the child’s intestines and offsets the growth of "unfriendly" organisms that could cause infections and inflammation. Thus, the growing focus on infant care and nutrition is driving the growth of the Asia Pacific probiotic infant and child formula market.
On the contrary, stringent rules and regulations pertaining to infant formula hampers market Asia Pacific probiotic infant and child formula market.
- Based on type, the market is segmented into infant formula (0-1 year) and growing-up formula (1-6 years). The growing-up formula (1-6 years) segment held 72.21% market share in 2022, amassing US$ 6,625.76 million. It is projected to garner US$ 15,107.19 million by 2028 to expand at 14.7% CAGR during 2022–2028.
- Based on distribution channel, the market is segmented into online and offline. The offline segment held 84.34% market share in 2022, amassing US$ 7,738.81 million. It is projected to garner US$ 17,091.93 million by 2028 to expand at 14.1% CAGR during 2022–2028.
- Based on country, the Asia Pacific probiotic infant and child formula market has been categorized into Australia, China, Japan, New Zealand and Rest of Asia Pacific. Our regional analysis states that China captured 66.47% market share in 2022. It was assessed at US$ 6,099.08 million in 2022 and is likely to hit US$ 13,484.16 million by 2028, exhibiting a CAGR of 14.1% during the forecast period.
Key players dominating the Asia Pacific probiotic infant and child formula market are Nestlé S.A. ; HiPP GmbH & Company Vertrieb KG ; Abbott Laboratories and Mead Johnson & Company, LLC ; and Bellamy's Organic.
- In, 2022; Nestle China launched new infant formula via CBEC.
- In ,2021; Abbott Laboratories ABT launched the Similac 360 Total Care.
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