Market Overview:
The global follow on formula milk market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing awareness about the benefits of follow on formula milk, rising disposable income, and growing demand for premium products. In terms of type, the ready-to-feed milk segment is expected to lead the global follow on formula milk market during the forecast period. This can be attributed to its convenience and easy availability. In terms of application, supermarkets are expected to lead the global follow on formula milk market during the forecast period owing to their large customer base and widespread presence across regions.
Product Definition:
The definition of Follow On Formula Milk is a type of formula milk that is designed for babies who are over six months old and who are not being breastfed. Follow On Formula Milk contains more nutrients than other types of formula milk, including iron, calcium and vitamins A, C and D. The importance of Follow On Formula Milk is that it provides babies with the nutrients they need to grow and develop properly.
Ready-to-feed Milk:
Ready-to-feed (RTF) milk is a semi-solid form of milk that has been pasteurized and then concentrated to provide higher protein content for infants. It contains all the essential nutrients required for the proper growth and development of an infant. The product is available in different forms such as powder, liquid, and ready to drink cups.
Milk Powder:
Milk powder is a by-product obtained during the production of milk. It contains protein, carbohydrates, vitamins and minerals along with some enzymes and hormones. The major function of this product is to provide moisture content to the milk which makes it easier for consumption for infant as well as adult human beings.
The global market size was valued at USD 2 billion in 2014.
Application Insights:
The others application segment accounted for the largest share of more than 50.0% in 2017. The demand is expected to be driven by supermarkets and convenience stores as they offer a wider range of products including infant nutrition, family food, snacks & cereals and other beverages under one roof. Moreover, online stores are also anticipated to emerge as promising growth destinations due to their ability to offer various product categories including ready-to-eat meals and follow on formula milk at doorsteps without human intervention or presence in the open market place.
Regional Analysis:
North America dominated the global follow on formula milk market in 2017. The region is expected to witness a CAGR of XX% over the forecast period owing to increasing demand for convenience food coupled with rising awareness about infant nutrition in U.S and Canada.
Europe also held a significant share of global industry revenue in 2017 owing mainlyto presence of major companies such as Danone S.A., Nestl© S.A., General Mills Inc.
Growth Factors:
- Increasing awareness about the benefits of Follow On Formula Milk among parents and caregivers.
- Rising disposable income of consumers, which enables them to spend more on baby food products.
- Growing trend of premiumization, with consumers preferring high-quality and innovative baby food products.
- Proliferation of e-commerce platforms, which offer a wide range of baby food products at competitive prices.
Scope Of The Report
Report Attributes
Report Details
Report Title
Follow On Formula Milk Market Research Report
By Type
Ready-to-feed Milk, Milk Powder
By Application
Supermarket, Convenience Store, Online Store, Others
By Companies
Hain Celestial, HiPP GmbH, Abbott, Reckitt Benckiser, Nestle, Dana Dairy, Danone, Arla Foods
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
239
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Follow On Formula Milk Market Report Segments:
The global Follow On Formula Milk market is segmented on the basis of:
Types
Ready-to-feed Milk, Milk Powder
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Supermarket, Convenience Store, Online Store, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Hain Celestial
- HiPP GmbH
- Abbott
- Reckitt Benckiser
- Nestle
- Dana Dairy
- Danone
- Arla Foods
Highlights of The Follow On Formula Milk Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Ready-to-feed Milk
- Milk Powder
- By Application:
- Supermarket
- Convenience Store
- Online Store
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Follow On Formula Milk Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Follow On Formula Milk is a milk substitute that is made from soybeans, corn, and wheat. It is designed to be used in place of cow's milk for people who are lactose intolerant or have allergies to dairy products.
Some of the major players in the follow on formula milk market are Hain Celestial, HiPP GmbH, Abbott, Reckitt Benckiser, Nestle, Dana Dairy, Danone, Arla Foods.
The follow on formula milk market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Follow On Formula Milk Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Follow On Formula Milk Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Follow On Formula Milk Market - Supply Chain
4.5. Global Follow On Formula Milk Market Forecast
4.5.1. Follow On Formula Milk Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Follow On Formula Milk Market Size (000 Units) and Y-o-Y Growth
4.5.3. Follow On Formula Milk Market Absolute $ Opportunity
5. Global Follow On Formula Milk Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Follow On Formula Milk Market Size and Volume Forecast by Type
5.3.1. Ready-to-feed Milk
5.3.2. Milk Powder
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Follow On Formula Milk Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Follow On Formula Milk Market Size and Volume Forecast by Application
6.3.1. Supermarket
6.3.2. Convenience Store
6.3.3. Online Store
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Follow On Formula Milk Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Follow On Formula Milk Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Follow On Formula Milk Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Follow On Formula Milk Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Follow On Formula Milk Demand Share Forecast, 2019-2026
9. North America Follow On Formula Milk Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Follow On Formula Milk Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Follow On Formula Milk Market Size and Volume Forecast by Application
9.4.1. Supermarket
9.4.2. Convenience Store
9.4.3. Online Store
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Follow On Formula Milk Market Size and Volume Forecast by Type
9.7.1. Ready-to-feed Milk
9.7.2. Milk Powder
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Follow On Formula Milk Demand Share Forecast, 2019-2026
10. Latin America Follow On Formula Milk Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Follow On Formula Milk Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Follow On Formula Milk Market Size and Volume Forecast by Application
10.4.1. Supermarket
10.4.2. Convenience Store
10.4.3. Online Store
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Follow On Formula Milk Market Size and Volume Forecast by Type
10.7.1. Ready-to-feed Milk
10.7.2. Milk Powder
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Follow On Formula Milk Demand Share Forecast, 2019-2026
11. Europe Follow On Formula Milk Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Follow On Formula Milk Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Follow On Formula Milk Market Size and Volume Forecast by Application
11.4.1. Supermarket
11.4.2. Convenience Store
11.4.3. Online Store
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Follow On Formula Milk Market Size and Volume Forecast by Type
11.7.1. Ready-to-feed Milk
11.7.2. Milk Powder
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Follow On Formula Milk Demand Share, 2019-2026
12. Asia Pacific Follow On Formula Milk Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Follow On Formula Milk Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Follow On Formula Milk Market Size and Volume Forecast by Application
12.4.1. Supermarket
12.4.2. Convenience Store
12.4.3. Online Store
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Follow On Formula Milk Market Size and Volume Forecast by Type
12.7.1. Ready-to-feed Milk
12.7.2. Milk Powder
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Follow On Formula Milk Demand Share, 2019-2026
13. Middle East & Africa Follow On Formula Milk Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Follow On Formula Milk Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Follow On Formula Milk Market Size and Volume Forecast by Application
13.4.1. Supermarket
13.4.2. Convenience Store
13.4.3. Online Store
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Follow On Formula Milk Market Size and Volume Forecast by Type
13.7.1. Ready-to-feed Milk
13.7.2. Milk Powder
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Follow On Formula Milk Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Follow On Formula Milk Market: Market Share Analysis
14.2. Follow On Formula Milk Distributors and Customers
14.3. Follow On Formula Milk Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Hain Celestial
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. HiPP GmbH
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Abbott
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Reckitt Benckiser
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Nestle
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Dana Dairy
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Danone
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Arla Foods
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
