Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Lactose-Free Infant Formula Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The lactose-free infant formula market size has grown rapidly in recent years. It will grow from $16.59 in 2023 to $18.53 in 2024 at a compound annual growth rate (CAGR) of 11.7%. The lactose-free infant formula market size is expected to see rapid growth in the next few years. It will grow to $28.35 in 2028 at a compound annual growth rate (CAGR) of 11.2%.
The growth observed in the historical period can be attributed to factors such as medical recommendations and prescriptions, an increase in cases of cow's milk protein allergy (CMPA), a rise in the incidence of lactose intolerance in infants, parental concerns for digestive health, improved formulations and taste of lactose-free infant formula, and the demand for alternative dietary solutions.
The projected growth in the forecast period can be linked to the growing global awareness of lactose intolerance, market expansion in emerging economies, an increasing adoption of specialty formulas, research advancements in infant nutrition, and the rising accessibility of healthcare. Key trends expected in the forecast period involve the development of hydrolyzed protein formulas, the integration of probiotics for gut health, the formulation of plant-based and non-dairy options, an emphasis on organic and clean label formulas, and the supplementation with DHA and ARA for infant development.
The lactose-free infant formula market is poised for growth, driven by the increasing incidences of lactose intolerance among infants. Lactose intolerance poses challenges for individuals who struggle to fully digest lactose, leading to health issues like bloating, gas, and diarrhea. Infants diagnosed with lactose intolerance often rely on lactose-free infant formula to meet their nutritional needs. Reports from Encyclopadia Britannica Inc. in July 2022 revealed that approximately 65% of the adult human population experienced lactose intolerance, emphasizing the significance of lactose-free options, particularly for infants.
The lactose-free infant formula market is expected to benefit from the growing population of newborns. Newborns, within their first 28 days of life, may require lactose-free infant formula under specific circumstances, such as a diagnosis of lactose intolerance or sensitivity. The CDC reported 3.66 million births in the US in 2021, compared to 3.61 million in 2020. Similarly, Statistics Canada noted 367,684 births in Canada in 2021, a 2% increase from 2020. This surge in newborns contributes to the increased demand for lactose-free infant formula.
Major companies in the lactose-free infant formula market are adopting innovative strategies, such as introducing plant-based infant formula, aligning with parents' preferences for more plant-based options for their babies. Plant-based infant formula, derived from non-animal sources like plants, grains, and seeds, provides a nutritionally complete and easily digestible alternative. In July 2022, Danone S.A. launched Dairy & Plants Blend, offering a mix of dairy and plant-based ingredients, providing parents with a plant-based option that meets their nutritional standards.
Major players in the lactose-free infant formula market are incorporating human milk oligosaccharides (HMOs) into their product solutions. HMOs are complex carbohydrates naturally present in human breast milk, benefiting newborns allergic to cow's milk protein and supporting their immune systems. Nestle (China) Ltd. introduced three infant formulas containing HMOs in May 2022, catering to infants with cow's milk protein allergies while enhancing immune system health.
Strategic acquisitions also contribute to the market dynamics, with Primavera Capital Group's acquisition of Mead Johnson's business in China from Reckitt Benckiser Group in September 2021. This move enhances Primavera Capital Group's growth prospects in China's infant nutrition market, emphasizing innovation, operational improvement, channel optimization, and digital transformation. Mead Johnson, a US-based infant and child nutrition company, is known for providing lactose-free infant formula.
Western Europe was the largest region in the lactose-free infant formula market in 2023. The regions covered in the lactose-free infant formula market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
A selection of companies mentioned in this report includes
- Nestle S.A
- Valio Ltd.
- Danone S.A
- Abbott Laboratories
- Silverson Machines Holdings Ltd.
- Gimme the Good Stuff
- Mead Johnson & Company LLC
- Gerber Product Co.
- HiPP International
- Vermont Organics LLC
- Perrigo Company plc
- Earth's Best Inc.
- Nutricia Ltd.
- Dana Dairy Group
- Nurture Inc.
- Kraft Heinz Company
- Hain Celestial Group Inc.
- Honest Company Inc.
- Nature's One Inc.
- Ausnutria Dairy Corporation Ltd.
- Synutra International Inc.
- Beingmate Baby & Child Food Co. Ltd.
- Yili Industrial Group Company Limited
- Feihe International Inc.
- Biostime International Holdings Limited
- Wissun International Group Co. Ltd.
- Otsuka Holdings Co. Ltd.
- Morinaga Milk Industry Co. Ltd.
- Yakult Honsha Co. Ltd.
- FrieslandCampina NV
For more information about this report visit https://www.researchandmarkets.com/r/87cq69
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