Growing Up Formula Market Outlook
The growing up formula is a milk-based formula that is developed for children that are 1 year and above. The growing up formula is not used as a meal replacement but as extra nutrition to the infants as it contains various nutrients and minerals that help in improving the infant’s overall health. The availability of the growing up formula products is targeted towards specific age groups and the nutrition available in these products differs according to the same. The growing up formula is available in either powder form or in a ready-to-drink liquid form. The ready-to-drink formula is a recently launched product and is expected to have a high growth rate.
The growing up formula is either available in regular flavour or there are various different flavours available in the market. The organic growing up formula is also available in the market but the products are mostly available in North America and very less number of products are available. In the upcoming years, its demand will increase in the MEA and the Asia Pacific.
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Growing Up Formula Market to Gain Traction Owing to the Increasing Nutritional Requirements
There has been an increase in health awareness in recent years as consumers are improving their diet. The use of external nutritional products for this purpose is being used as the minimum requirement of nutrition is not accomplished by the daily diet intake. This has resulted in an increase in the popularity of such products. The growing up formula is targeted to give nutrition to the infants and children as a replacement to milk. Additional nutrients in it increase its overall market value. Brand promotional strategies and advertisements also have a very big role to play in the rising popularity of growing up formula market.
Growing Up Formula Market: Segmentation
The growing up formula market can be segmented on the basis of nature, flavour, product type and distribution channel.
On the basis of form, the growing up formula market can be segmented as –
On the basis of nature, the growing up formula market can be segmented as –
On the basis of flavour, the growing up formula market can be segmented as –
On the basis of age group, the growing up formula market can be segmented as –
- 1-3 years
- 3-6 years
- 6-8 years
On the basis of distribution channel, the growing up formula can be segmented as –
- Modern Grocery Stores
- Specialty Stores
- Online Retail
Growing Up Formula Market: Regional Analysis
The demand for growing up formula products is high in North America and Europe. The product launches are also more in these regions due to the growing demand. But the demand for ready-to-drink growing up formula is more as compared to the powdered form. Also, the demand for ready-to-drink growing up formula is high in Oceania. But in East Asia and South Asia, the powder form of growing up formula is consumed more in comparison with liquid ready-to-drink products. Malaysia has observed to have many manufacturers of growing up the formula. Also, the demand for these products is high there.
There have been many new developments in the growing up formula market. Aptamil Gold+ Stage 4 Junior Growing Up Formula, a product by Nutricia, which is a part of Danone S.A. has launched a product that has DHA and prebiotic blend in it which is expected to develop the child’s brain and immune system.
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Growing Up Formula Market: Key Participants
The key participants in the growing up formula market are –
- Nestle S.A.
- Able Food Sdn Bhd
- Perrigo Nutritionals
- MS Nutrition Sdn Bhd
- Bodco Limited
- Almarai Co.
- Dana Dairy Group