South America Soy-Based Infant Formula Market Forecast (2024 – 2032)

South America Soy-Based Infant Formula Market Size & Growth:

The South 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 4.16% during the forecast period. The soy-based infant formula market in Brazil is mainly attributed to the increasing number of women with low breastmilk production, rising awareness regarding plant-based infant formula, and rapid urbanization. The birth rates are increasing across the South American region; the consumers are willing to spend on infant formula & food products of high quality. Due to rising disposable income, the consumers are not hesitant to go for organic infant formula. In Brazil, 95% of the mothers initiate breastfeeding, but the duration of EBF is still low. A recent survey in Brazil revealed that the median duration of EBF was 1.4 months.

In Latin America, an average of 38% of infants are exclusively breastfed until their fifth month of age. Also, feeding practices during that stage are not homogenous in the region. While in Central America, the recommendation is followed for nearly 33.2% of babies, this figure drops to close to 26% in the Caribbean. As babies grow into their sixth to eight months of age, the international organization advises introducing solid, semi-solid, or soft foods into the children’s diet. Although more than eight out of 10 Latin American parents follow this advice, only 62% fulfil the recommended minimum diet diversity of four or more food groups a day.

Introduction:

Soy-based infant formula is the most appropriate choice for vegan families. Soy formula consists of high concentrations of plant-based estrogen-like compounds. It is the primary food source for babies in the first six months of life; it’s essential to understand the effects of exposure to such compounds during a critical period in development. Many believe that soy formula use in infancy reduces colic, allergies, and the risk of disease later in life, but there is no sufficient evidence to prove it.

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

In 2020, during the COVID-19 pandemic, there have been unprecedented variations in the South America 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 South America infant formula market.

South America Soy-Based Infant Formula Market Segments Share:

The South America Soy-Based Infant Formula market is segregated on the basis of product type, age group, and geography. In 2021, the current infant mortality rate for Argentina is 9.461 deaths per 1000 live births, which is a 2.61% decline from 2020. Nearly 32.0% of infants aged 0 to 5 months are exclusively breastfed.

The market for baby foods in Argentina is estimated to grow during the forecast period due to increasing demand from parents to feed their babies with healthier food with high nutritional value. They opt for natural ingredients and no additives containing food with a major attraction on organic baby food products. Consumers are purchasing baby food products to promote the health of their babies by feeding products that combine a balanced nutritional profile and convenience.

Companies are focusing on acquisitions and relationship programs to enhance market share and boost sales. According to a recent study, the per capita income in the next decade is expected to increase twice as fast in developing countries relative to developed countries. This has significant implications for the growth of the infant nutrition market.

South America Soy-Based Infant Formula Market Trends:

• The key trends observed in the Chile infant formula sector are growing awareness on adequate nutrition, rising population of women professionals, food safety concern and rising urbanization. In South America, Colombia has the highest average price of formula (around $20 per kg, compared to $17 in Mexico, and just $8 in Argentina) suggesting the existence of a premium market.

South America 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 South America 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.