Used for feeding infants below 12 months, infant milk formula is a healthy product for infants, as it contains all the required nutrients for a baby. Containing lactose and casein, infant milk formula is good for the healthy growth of an infant. The healthy nutrient content of the product, coupled with the rise in the number of working women, has resulted in the growth of the infant milk formula market in the MENA or the Middle East and North Africa region. An increase in the disposable income as well as the growing economic development of the Middle East and North Africa regions are responsible for expanding the mena infant milk formula market.
The market for infant milk formula in the MENA region, which was valued at US$1.9 bn in 2015, is estimated to reach US$4.2 bn by 2021, exhibiting a CAGR of 13.5% from 2015 to 2021. The infant milk formula market in the GCC region is expected to contribute the highest to the overall MENA market. Growth in the infant milk formula market in the GCC is attributed to the growth in the number of drugstores and the increasing presence of the infant milk formula market. The GCC market is expected to exhibit a CAGR of 13.8% in terms of value in the period from 2015 to 2021. The rest of the Middle East infant milk formula market is anticipated to exhibit a modest CAGR of 13.5% in terms of value over the period from 2015 to 2021.
The infant milk formula market is segmented on the basis of three criteria, namely product, distribution channel, and region. Starting milk formula, follow-on milk formula, and toddler’s milk formula are the three types of products into which the infant milk formula market is segmented. Among these, the starting milk formula accounted for 51% of the total revenue in 2015, due to the increasing income of consumers in the MENA region. However, the rising prices of starting milk formula, change in the preference of consumers, and high prices of raw material could hamper the growth of the market.
Specialty stores, online retailers, drug stores or pharmacies, and supermarkets are the major distribution channels in the infant milk formula market. Of these, drug stores or chemists are expected to rule the market in terms of revenue, accounting for a share of 73.4% in the overall market by 2021, and online retailers are expected to expand at the highest CAGR of 16.2% in terms of value.
Geographically, the market for infant milk formula is divided into GCC, North Africa, and rest of the Middle East.
Some of the key vendors in the MENA infant milk formula market are Almarai, Behdashtkar, Nutridar Company Plc, Lacto Misr, , Ausnutria Hyproca B.V., Abbott Laboratories, Saudi Centre Group, Groupe Danone, RIRI Baby Food Co., Aspen Pharmacare Holdings Limited, and Nestlé S.A.
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