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The North America 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 5.91% during the forecast period. Infants exclusively breastfed are 14 times less likely to die than babies who are not breastfed. However, at present, only 41% of infants 0–6 months old are exclusively breastfed, which increases to at least 50% by 2025. Inappropriate marketing of breast-milk substitutes continues to undermine efforts to improve breastfeeding rates, and the COVID-19 pandemic intensifies the threat. In 2020, due to the COVID-19 pandemic, the market had a moderate impact due to sudden restrictions enforced by respective governments on manufacturing units, supply chain, and a ban on export-import services limited the development, manufacturing and commercialization of infant formula products. In the Asia Pacific region, the higher number of births in developing countries like China and India will positively impact market growth. This is mainly due to numerous trends in breastfeeding. Increasing R&D activities by major players to discover innovative and improved infant nutrition will accelerate the market progression. Recently, the funding by governments has increased, which further allowed companies to strengthen their product portfolio. A rise in spending capabilities in developing economies will spur the product demand.
In 2020, during the COVID-19 pandemic, there have been unprecedented variations in the North America sales of infant formula and food products due to rapid changes in consumer purchase patterns. The American Academy of Pediatrics (AAP) also recommended that during the COVID-19 pandemic, people should buy no more than ten days to 2 weeks supply of formula to ensure the availability of formulas to everyone. The increasing COVID-19 pandemic and lockdown measures resulted in a rapid change in circumstances for pregnant women, new mothers, and infants. The global F&B (Food and Beverages)
The North America Soy-Based Infant Formula market is segregated on the basis of product type, age group, and geography. Whole-fat soy based infant formula is most suitable for the infants of age above 6 months, as it contains the fat required for growth. Soy is nature’s nutritional treasure, especially for individuals who cannot tolerate cow’s milk. It contains important nutrients like cow’s milk including protein, calcium, B vitamins, iron and zinc. Soy formulas can help treat gas, fussiness, and dairy-related allergies in babies. According to the American Academy of Pediatrics, if your child is lactose intolerant, has a genuine milk allergy or digestive problem, or is raised in a vegan or vegetarian household, you should choose soy formulas over cow’s milk-based formulas.
Based on geography, the market is categorized into U.S., Canada and Mexico. Among these, North America region is estimated to hold the significant market share during the forecast period. Amongst North American countries, the U.S. holds a significant market share in the overall market during the forecast period. Moreover, key players are focusing on organic contents by removing the GMOs, synthetic pesticides, and fertilizers in the feeds of cows. Thus, the milk used in the infant formula is certified as organic. Therefore, a shift in preference toward organic food & drink is anticipated to offer remunerative opportunities to expand the U.S. organic infant formula market during the forecast period. All formulas must comply with strict regulations ensuring safety and adequate nutrition in the U.S. For example, soy formulas contain isoflavones, which may have estrogenic effects
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.
Starting from $2700
Starting from $2700
Starting from $2700
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