AMINO ACID BASED FORMULA MARKET REPORT OVERVIEW
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The global amino acid based formula market size was estimated at USD 753.53 million in 2021 and is projected to reach USD 1348.55 million by 2028, exhibiting a CAGR of 8.67% during the forecast period.
The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. Amino acid-based formula is also known as elemental formula and is a type of allergenic newborn formula derived from amino acids. It can be fed to new-born newborns who are intolerant to soy protein isolates, casein hydrolysates, and cow milk proteins. Amino acid formulas are advised for newborns with cow milk allergies. Manufacturers of infant formula have made various changes to the formula by adding components in accordance to scientific discoveries. Neocate, EleCare, and Nutramigen Puramino are the most popular product brands.
The amino acid-based formula market is expected to grow in the future due to rising urbanization, industrial activity, and the number of international organizations, dealers, and local distribution channels. Furthermore, factors such as an ageing population, comfortable climate, and accessible internet connectivity may provide multiple chances for the expansion of amino acid-based formula market expanding during the forecast period.
A new option to satisfy infant nutritional demands is being developed in response to an increase in food allergies to infant cow's milk protein. Increasing health concerns and the presence of big firms that supply sufficient nutrition without side effects are influencing the market’s progress. The global market for amino acid-based formula is being driven by the problem of lactating moms, the rising number of women working full-time following pregnancy, and the increase in business seekers involved in milk protein alternative production.
COVID-19 Impact: Halt on Manufacturing and Stringent Lockdown Regulations to Hinder Industry Growth
Because of the COVID-19 pandemic, health consciousness and awareness have grown even more than before, indicating an increase in demand for amino acid-based formula. As infants are more vulnerable to pandemic infection, a product that ensures sufficient protein intake and other nutrition is quite useful. Therefore, this factor is likely to expand amino formula products’ market. Since the epidemic has caused a closure of commercial activities and manufacturing, the current production situation is sluggish. Restrictions on various developments of the amino acid formula market are rising alongside of the number of COVID-19 disorders. As the global economy faces pandemic conditions, the impact on the global exchange and store network is becoming clear from the rapid debilitation of global speculation streams. Stringent laws imposed by governments around the world, preventative steps to mitigate the impact of the incident, have resulted in a major limitation in transportation, putting a damper on the impact globally.
"Increasing Number of Lactose-Intolerance Infants to Propel Market Development"
Lactose intolerance is a clinical phenomenon that can result in gastrointestinal pain, diarrhea, flatulence, and bloating after consuming lactose-containing foods. Lactose permeability is the underlying physiological problem, which is caused by a discrepancy between the proportion of lactose consumed and the enzymes’ capacity. These conditions necessitate medical attention and the use of lactose-free baby formula. Lactose intolerance is related to lower quality of life in children. As a result, health and nutrition companies focus on the creation of cow milk alternatives that can give infants the necessary and acceptable nourishment and protein. This was a brand-new approach to food and kid nutrition. For example, lactose intolerance affects around 65.0 percent of the human population, according to the United States National Library of Medicine. This disorder is most frequent in Finland, where it affects approximately 1 in every 60,000 babies and is rapidly rising.
AMINO ACID BASED FORMULA MARKET SEGMENTATION
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- By Type Analysis
By type, the market is segmented into lactose and lactose free
Profits from amino acid-based formulas’ sales with lactose content will continue to be much higher than those from lactose-free counterparts, regardless of product category. However, because of the rising prevalence of lactose intolerance among newborns, sales of lactose-free amino acid-based formulas will grow at a faster rate in terms of both value and volume. These factors are likely to propel market development.
- By Application Analysis
Based on application, the market is bifurcated into Birth to 3 Months, 4 to 7 Months, 8 to 12 Months, 12 Months & Above, and Others.
The amino acid-based formula market will continue to seek the largest revenues in the new born group, depending on usage. A major application area for the formula will be infants. These factors may propel industry growth.
"Increasing Number of Working Women to Create Demand"
Increased health concerns are driving the market, as are significant players that offer appropriate nutrition with no negative effects. The global market for amino acid-based formula is driven by increasing health concerns, and major companies who provide proper nourishment with no side effects. The difficulty of lactating mothers, the rise in the number of women returning to work after childbirth, and the rise in business aspirants interested in milk protein replacement innovation are all factors to consider. There has been a gradual reduction of the gender difference in employment reports and the labor force. According to the International Labor Organization (ILO), women's employment involvement reached nearly 50% in 2015, and this percentage is expected to continue to rise in the coming years. Women's busy lifestyles has significantly impacted birth rates and nursing. and shall have a considerable impact on demand for infant formulae, particularly amino formulations.
"Increasing Innovations to Enhance Market Expansion"
The majority of amino acid-based infant formulae have a slightly bitter taste, which, in turn, had a substantial impact on customer apprehension and newborn consumption rejection. As a result, infant formula producers are developing new formulations with a variety of flavors that will appeal to infants while easing stress from busy parents. Manufacturers have improved their products throughout the years by adding or changing components in response to scientific advances and trends. Furthermore, many companies use appealing packaging, such as ready-to-use plastic bottles with easy-to-grip forms, to make it easier for busy parents to care for their infants. These factors are likely to drive the amino acid-based formula market growth.
"Concerns Regarding Side Effects of the Product to Hinder Industry Development"
Consumers' negative perceptions of amino acids such as monosodium glutamate, which may produce undesirable reactions including allergic reactions, weakness, headaches, and palpitations, may impede the global food amino acids market's expansion. These factors may hamper the progress of the market.
AMINO ACID BASED FORMULA MARKET REGIONAL INSIGHTS
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"Increasing R&D Activities to Promote Growth in North America"
Regionally, the market is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is expected to dominate the amino acid-based formula market share because of primary advancements in amino acid formulas. To make it easier for busy parents to care for their children, Producers employ appealing packaging alternatives such as ready-to-use plastic bottles with easy-to-grip shapes to make child feeding easier for parents.
Asia Pacific is the second-largest shareholder because of the rising disposable income, purchasing power, and consumer desire for nutritional and healthful products. This factor bodes well for the region's food sector's growth and diversity. Because of the rising consumer spending power of China's economic development, there has been an increase in demand for high-quality processed foods, which has boosted demand for the product.
In Europe, huge lactose intolerant population in the region is responsible for capturing the majority of the market for lactose-free newborn formula. In Europe, Ireland produces over 80% of the base powder for infant formula. Lactose is replaced with glucose syrups in milk advertised as "lactose-free" throughout the region, and milk for special medical purposes should be used under medical supervision.
KEY INDUSTRY PLAYERS
"Increasing Investments in Research & Development Activities to Help Companies Grow"
Due to the existence of a significant number of regional and local companies from various countries, the market is fragmented. Mergers, expansions, acquisitions, and partnerships, new product development, are highlighted as strategic techniques used by prominent corporations to increase their brand exposure among customers. The prominent companies operating in the market invest heavily in research and development to improve their product's effectiveness and reduce side effects.
- February 2020: Else Nutrition, a manufacturer and supplier of clean-ingredients, plant-based nutrition products, introduced a 100 percent plant-based, organic toddler formula made with a proprietary almond, buckwheat, and tapioca composition.
List of Market Players Profiled
- Mead Johnson
This research gives an analytical depiction of the global amino acid-based formula market, current trends and future forecasts, to identify potential investment opportunities. The research includes a complete analysis of the global amino acid-based formula market share, information on key drivers, restraints, and opportunities. The research presents a comprehensive global amino acid-based formula market analysis based on competitive intensity and how the competition will evolve over the next few years.
|Market Size Value In||US$ 753.53 Million in 2021|
|Market Size Value By||US$ 1348.55 Million by 2028|
|Growth Rate||CAGR of 8.67% from 2021 to 2028|
|Historical Data Available||Yes|
|Segments Covered||Type & Application|
Frequently Asked Questions
What value is the amino acid-based formula market expected to touch by 2028?
Based on our research, the amino acid based formula market is expected to touch USD 1348.55 million in 2028.
What CAGR is the amino acid-based formula market expected to exhibit during the forecast period?
The amino acid-based formula market is expected to exhibit a CAGR of 8.67% during the forecast period.
Which are the driving factors of the amino acid-based formula market?
Increasing number of working women and innovations in the product are likely to drive the amino acid-based formula market growth.
Which are the top companies operating in the amino acid-based formula market?
Necocate, Abbott, Ausnutria, Nestle, Mead Johnson, Aptamil are the top companies operating in the amino acid-based formula market.