Global Rice Based Infant Formula Market is projected to register a healthy CAGR of 5.4% in the forecast period 2019 to 2026. The new market report contains data for historic years 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026. Access Full Report at https://databridgemarketresearch.com/reports/global-rice-based-infant-formula-market
Drivers: Global Rice Based Infant Formula Market
RISING POPULATION OF WORKING MOTHERS: Now days, the number of working women is increasing rapidly across the world. Many women are participating in labor force as a support system to balance the family obligations along with career ambitions. The increasing population of working mothers is acting as a key driver in the growth of rice based infant formula products owing to their busy schedules.
- As per the U.S. Department of Labour, in 2015 the rate of labor force participation of working mothers with children under the age of 3 years was about 61.4%.
- According to International Labour Organization, about 586 million women in 2015 were contributing or own-account family workers.
Owing to the rising number of working women, their hectic schedules, lack of time and their changing lifestyle, they are depending on the nutritional supplements like rice based infant formulas for feeding their children which helps in boosting the rice based infant formula market growth. GROWING INFANT POPULATION: The number of infant population is increasing across the world. As the infant population is growing the need for infant formulated food products is also increasing. Food plays a vital role in the health of people. The birth rate is considered as a key factor in determining the population growth rate. It mainly depends on two factors such as the population age and the level of fertility. The crude birth rate refers to the number of the live births which occurs among the population during a year of a specific geographical area, per 1,000 total population of mid-year during the same year of the specified geographical area.
- According to the Centers for Disease Control and Prevention, in 2017 the numbers of births registered in the U.S. were 3,855,500. Owing to the huge number of births, the need for the infant formula also increases which accelerates the growth of the rice based infant formula market.
Infant formula products are the best solution for the growth of infants. It helps in supporting the immune system, developing healthy bacteria in the gut that boosts the immune system. The above mentioned statistics are showing the growing birth rate, which is in turn boosting the demand of rice based infant formula products. Restraint: REGULATORY SCENARIO: In majority of the countries there are food regulatory authorities, which require a mandatory assessment for the infant formula. The regulation for any food ingredient or functional food varies in different countries according to the regulatory authorities. Every manufacturer of infant formula products must have to comply with certain regulations in order to launch their products. Various stringent regulations are imposed on the infant formula products by various associations and organizations such as: According to the European Commission, various new regulations on the food for the specific groups of follow-on formulae and infant formulae were imposed from 20th July, 2016:
- The Commission requires adopting specific compositional and the information rules for the follow-on and infant formulae through delegated act, which will replace the Directive 2006/141/EC. The Commission delegated Regulation (EU) 2016/127 was adopted on 25th September 2015 and will begin to apply on 22nd February 2020. The rules of Directive 2006/141/EC will remain applicable till that date. The new delegated Regulation:
- Modifies the rules regarding the labelling for ensuring the consistency with the horizontal rules of Regulation (EU) No 1169/2011 on the provisions of food information to the consumers considering the specificities of products.
- Helps in facilitating the monitoring activities of the national competent authorities by needing the operators for notifying them regarding the placing of many follow-on formulas on the market (in addition to the infant formula, for which the obligations already existed).
Strict regulations in different countries is restricting the manufacturers to launch new products and creating barrier to enter into new market. Opportunity: INCREASING AWARENESS REGARDING IMPORTANCE OF NUTRITION FOR INFANTS: Nutrition for the developing children acts as a key factor for the fortified foods and baby food. Achieving good nutrition which helps in supporting the developmental requirements of the infants begins from conception. The expectant mothers need increased levels of the macronutrients and other essential micronutrients like vitamin K2, choline and folic acid. The Cornell University offered free training course known as Programming for Infant and Young Child Feeding which aimed for enhancing the competencies and also build the capacity of the UNICEF staff and the counterparts who are included in the Infant and Young Child Feeding programmes in the low and middle income countries.
- In 2014, United Nations Children's Fund (UNICEF- UK) published a ‘guide to infant formula’ and responsive bottle-feeding. The guide aims to create awareness regarding type and benefits of infant formulas.
- In 2012, the UNICEF supported the Save the Children Jordan (SCJ) for establishing a programme which aimed at improving and maintaining the infant and young child feeding practices among the population in the country which is affected by Syrian crisis.
Moreover, many commercial food products on which the adults rely are quietly inadequate for the specific needs of a child. This is why fortified and baby focused foods that are highly advantageous for ensuring none of these essential nutrients are omitted. Thus, the increasing awareness regarding the importance of nutrition for infant’s acts as an opportunity to the rice based infant formula market thereby increasing the demand for rice based food products. Challenge: HIGH CONTENT OF TOXIC CHEMICALS IN RICE BASED INFANT FORMULA: The demand for infant formula products are increasing rapidly as many consumers are using powdered formulas instead of breastfeeding. The formula typically acts as a sole source of the nutrition for infants which pose as a unique challenge to the infant food manufacturers. The rice based infant formula products, snacks, toddler drinks and many other baby food products contain different chemicals such as arsenic, lead, acrylamide and cadmium. These chemicals which are found in the rice based food products act as a problem for the babies for their developing brain and also cadmium and arsenic are also carcinogens. As per the Clean Label Project, 80% of the rice based infant formula products contains arsenic, which is a toxin that the World Health Organisation relates with a slew of the health issues like diabetes, cancer and cardiovascular disease. The inorganic arsenic is significantly more toxic as compared to organic arsenic. Unfortunately, inorganic arsenic is considered as the form which is most prevalent in the rice and therefore the infant formula products are inorganic arsenic. Thus, the arsenic content is higher in the rice based infant formula products as compared to other toxic chemicals which may have an adverse effect on the health of the infants. Therefore, higher content of toxic chemicals act as a challenging factor for the growth of rice based infant formula market. Market Trends: Global rice based infant formula market is segmented into five notable segments which are type, product type, form, infant age and distribution channel. On the basis of type, the market is segmented into unformulated and formulated. The formulated segment is further sub-segmented into vegetables, fruits and cereal. The vegetables segment is further sub-segmented into sweet potato, spinach, pumpkin and others. The fruits segment is further sub-segmented into apple, banana, orange, strawberry and others. The cereal segment is further sub-segmented into wheat, oat, barley, corn and others. In 2019, formulated segment is projected to lead with 68.89% shares and is growing with the highest CAGR of 5.6% in the forecast period of 2019 to 2026. On the basis of product type, the market is segmented standard formula, toddler formula, follow-on formula and special formula. In 2019, standard formula segment is projected to lead with 47.03% shares and is growing with the highest CAGR of 5.8% in the forecast period of 2019 to 2026. On the basis of form, the market is segmented into Non-GMO and GMO. In 2019, Non-GMO segment is projected to lead with 85.10% shares and is growing with the highest CAGR of 5.6% in the forecast period of 2019 to 2026. On the basis of infant age, the market is segmented into 0-6 months, 6-12 months and 1-3 years. In 2019, 6-12 months segment is projected to lead with 58.21% shares and is growing with the highest CAGR of 5.6% in the forecast period of 2019 to 2026. On the basis of distribution channel, the market is segmented into store-based retailer and non-store retailer. The store-based retailer segment is further sub-segmented into grocery stores, supermarkets/hypermarkets, convenience stores, specialty stores and wholesalers. The non-store retailer segment is further sub-segmented into online and vending. In 2019, store-based retailer segment is projected to lead with 66. 49% shares and is growing with the highest CAGR of 5.7% in the forecast period of 2019 to 2026.
Major Players: Global Rice Based Infant Formula Market
Some of the major players operating in the global rice based infant formula market are Scientific Brain Nutraceutical Pvt. Ltd., Bellamy's Organic, Abbott, Nestlé, Bayer, BIMBOSAN AG, BALACTAN NUTRITION S.L., Parent's Choice Infant Formula, Danone, SAVENCIA SA, Mead Johnson & Company, LLC. and others.
