The supplements and infant milk formula for travel retail market size has grown rapidly in recent years. It will grow from $2.47 billion in 2023 to $2.77 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth in the historic period can be attributed to an increase in the number of families traveling with infants, an increase in the aging population, increased demand for specialty supplements, and growing awareness.
The supplements and infant milk formula for travel retail market size is expected to see rapid growth in the next few years. It will grow to $4.46 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to increased health and nutrition education programs, an increasing number of working mothers, and growing demand for health and wellness products. Major trends in the forecast period include an increasing focus on eco-friendly and sustainable formulas, convenient packaging, collaborations and partnerships, and digital integration.
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Scope Of Supplements And Infant Milk Formula For Travel Retail Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Supplements And Infant Milk Formula For Travel Retail Market Overview
Market Drivers –
An increasing infant population is expected to propel the growth of supplements and infant milk formulas in the travel retail market going forward. Infant population typically refers to the demographic group of children under one year old within a given population or region. The rise in birth rates and improved healthcare have led to higher infant survival rates. Supplements and infant milk formula provide the infant population with essential nutrients crucial for growth and development. For instance, in April 2024, according to Bliss.Org, a UK-based charity for infants, the percentage of preterm live births rose from 7.4% in 2020 to 7.6% in 2021. Additionally, in January 2023, according to the Office for National Statistics, a UK-based governmental organization, the percentage of preterm live births saw a slight rise from 7.4% in 2020 to 7.5% in 2021Therefore, the increasing infant population is driving the growth of supplements and infant milk formulas in the travel retail market.
Market Trends –
Major companies operating in the supplements and infant milk formula for travel retail market are developing baby formula products with dairy and plant blends to cater to evolving consumer preferences and sustainability concerns. Dairy and plants blend baby formula, an infant formula that integrates dairy-based ingredients with plant-based components, aiming to provide a comprehensive nutritional profile suitable for infants. For instance, in July 2022, Danone S.A., a French-based food-products company, launched a dairy and plant blend infant formula that combines dairy and plant-based ingredients to provide complete infant nutrition while catering to the growing demand from parents for more plant-based feeding options. The formula, which contains 60% non-GMO soy protein and 40% dairy protein from casein and whey, also includes lactose, omega-3 DHA, and prebiotics. It is a nutritionally complete and gentle introduction to plant-based flavors for babies. The dairy and plants blend has a 30% lower carbon footprint due to plant-based ingredients and fully recyclable packaging.
The supplements and infant milk formula for travel retail market covered in this report is segmented –
1) By Type: Supplements, Adult, Infant Milk Formula
2) By Product Form: Powder, Liquid, Ready-To-Feed
3) By Distribution Channel: Supermarkets Or Hypermarkets, Convenience Stores, Pharmacies Or Drugstore, Online Retail, Other Distribution Channel
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Regional Insights –
Europe was the largest region in the supplements and infant milk formula for travel retail market in 2023. The regions covered in the supplements and infant milk formula for travel retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the supplements and infant milk formula for travel retail market are Nestlé S.A., Pfizer Inc., Bayer AG , Abbott Laboratories, Danone S.A., Reckitt Benckiser Group plc, Amway Corporation, Glanbia plc, Herbalife Nutrition Ltd., Nature’s Bounty Co., GNC Holdings Inc., Blackmores Limited, Swisse Wellness Group Pty Ltd, Vitabiotics Ltd., Hero Nutritionals LLC, Weider Global Nutrition, Elevit, Similac, Nutricia, Pediasure
Table of Contents
1. Executive Summary
2. Supplements And Infant Milk Formula For Travel Retail Market Report Structure
3. Supplements And Infant Milk Formula For Travel Retail Market Trends And Strategies
4. Supplements And Infant Milk Formula For Travel Retail Market – Macro Economic Scenario
5. Supplements And Infant Milk Formula For Travel Retail Market Size And Growth
…..
27. Supplements And Infant Milk Formula For Travel Retail Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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