Middle East & Africa Soy-Based Infant Formula Market Forecast (2024 – 2032)

Middle East & Africa Soy-Based Infant Formula Market Size & Growth:

The Middle East & Africa Soy-Based Infant Formula market was valued at $XX Billion in 2021 and is expected to reach $XX Billion by 2029, growing at a CAGR of around 3.21% during the forecast period. Saudi Arabia accounted the significant market share, due to growing working women, and increasing popularity of infant formula. In addition, the growing population & birthrates in the region are also boosting the infant formula sales during the forecast period. Since working mothers return to their jobs shortly after giving birth, prepared baby foods and formulas, which can be instantly provided to the children, are proving to be an appealing alternative for working mothers, to feed their children with nutritious options.

Most of the Middle East consumers base their buying decisions for purchasing of baby food on the bases of recommendation they get health care expert. With the developed retail landscape in the Middle Eastern countries and rapid economic development, it is expected to be the highest point of sale for infant formula particularly organic formulas in the years to come. Followed by Saudi Arabia, Turkey is the largest market for infant formula & baby food in the Middle Eastern region and shows the great potential in the market. Choosing organic over inorganic products reduces the exposure of infants to these harmful substances unfit for human consumption. Organic products are generally priced at a premium. So, with rising GDP and PDI (personal disposable income), the demand for organic baby food is also expected to rise soon.

Introduction:

Soy-based infant formula substitutes human breast milk or cow milk, using soy protein and other components. It uses processed soybeans as a source of protein, and it has been formulated in the form of liquid or powder. Soy-based infant formula contains different sugar groups, excluding lactose; other ingredients are naturally occurring plant-based compounds like phytic acid. It differs from human breast milk in multiple ways, including inhibition of iron absorption, though it can be removed in processing.

COVID-19 Impact on Soy-Based Infant Formula Market:

In 2020, during the COVID-19 pandemic, there have been unprecedented variations in the Middle East & Africa sales of infant formula and food products due to rapid changes in consumer purchase patterns. The increasing trend of bulk buying and stockpiling of infant formula has led to certain products being in minimal supply, which has led to price fluctuations in the Middle East & Africa infant formula market.

Middle East & Africa Soy-Based Infant Formula Market Segments Share:

The Middle East & Africa Soy-Based Infant Formula market is segregated on the basis of product type, age group, and geography. Despite the slow consumption rate of organic products in Africa, soy is found to be highly beneficial for the health of infants, and the infant nutrition market in African countries is expected to rise during the forecast period. More personalization formulas are introduced to heal illnesses or infants suffering from a gamut of health conditions. In addition, there are highly specialized infant formulas that treat rare diseases. Strict regulations enforced by bodies such as the U.S. Food and Drug Administration (FDA) are significant challenges hampering the market growth.

Due to growing consumer awareness, it has become imperative for manufacturers to offer better-quality products to stay ahead in the competitive market. In South African countries, exclusive breastfeeding remains rare, with breast-milk substitutes (BMS) commonly being used in ways detrimental to infant and young child nutrition, health and survival. The increasing usage of e-commerce & online platforms, including in low-income and middle-income countries, are avenues for infant formula marketing. Increased marketing of any product influences consumer buying decisions. The marketing of infant formula products, mainly organic on social platforms & others, could potentially increase social acceptance, desirability, and use to infants’ detriment. People in Egypt are extremely price- sensitive, hence people belonging to high- and middle-class income are anticipated to remain as the major consumers of baby food in the country. The continuously changing consumer lifestyles and a high rate of population growth are expected to continue supporting the growth for the baby food segment in Morocco.

Middle East & Africa Soy-Based Infant Formula Market Trends:

• In August 2021, Omega-3 DHA innovator Martek Biosciences Corporation and The Hain Celestial Group, Inc., a leading natural and organic food and personal care products company, announced today that they have entered into a license and supply agreement whereby Martek will serve as the exclusive DHA and ARA supplier for all Hain Celestial infant formula products in the U.S.
• In June 2021, Reckitt Benckiser Group PLC announced that it as entered into a definitive agreement to sell its infant formula and child nutrition business in China to Primavera Capital Group for a value of $2.2 Billion.

Middle East & Africa Soy-Based Infant Formula Market Research Report Include:

• An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
• To have complete market analysis through industry value chain analysis, porter’s five, PESTLE, SWOT analysis, and Y-o-Y analysis.
• Regional and Middle East & Africa diversity is analyzed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
• Identifying DROC in the current market and their impact in altering the market dynamics.
• Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial analysis with major competitors.
• Expertise investment opportunities by analyst to the individual and organization to have better foothold in the market.
• Identify the latest developments, market shares and strategies that are employed by the major market players, such as
• Nestle S.A.
• Abbott Laboratories
• Perrigo Company PLC
• Reckitt Benckiser Group PLC
• The Hain Celestial Group, Inc.

Along with these companies, there were many other companies considered/ cited in the report while analyzing the Soy-Based Infant Formula market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.