Breast Milk Fortifier Market was valued at USD 0.6 Billion in 2022 and is projected to reach USD 1.0 Billion by 2030, growing at a CAGR of 7.2% from 2024 to 2030.
The breast milk fortifier market has experienced significant growth from 2018 to 2022, driven by increasing awareness of neonatal nutrition and advancements in healthcare. This upward trend is expected to continue, with projections indicating substantial demand from 2023 to 2033.
Between 2018 and 2022, the market saw a steady rise, attributed to heightened recognition of the benefits of fortifying breast milk for preterm infants. The global human milk fortifier market was valued at approximately US$274.67 million in 2022. Factors such as improved healthcare infrastructure and increased research into infant nutrition contributed to this growth.
Looking ahead, the market is poised for further expansion. Projections suggest that by 2030, the market could reach US$566.35 million, growing at a compound annual growth rate (CAGR) of 9.6% from 2023 to 2030. This anticipated growth is driven by several key factors:
Rising Preterm Birth Rates: An increase in preterm births globally necessitates enhanced nutritional support, boosting the demand for breast milk fortifiers.
Technological Advancements: Innovations in fortifier formulations and delivery methods improve efficacy and convenience, making them more appealing to healthcare providers and parents.
Growing Awareness: Increased understanding of the importance of neonatal nutrition among parents and healthcare professionals leads to higher adoption rates of fortifiers.
Expansion in Emerging Economies: Developing countries are witnessing improved healthcare access and rising disposable incomes, contributing to market growth.
However, challenges such as stringent government regulations and ethical concerns regarding the commercialization of human milk products may pose constraints. It's crucial for industry stakeholders to navigate these challenges carefully to maintain growth momentum.
In my experience, the increasing focus on neonatal health has led to more parents and healthcare providers considering breast milk fortifiers as a viable option to ensure optimal infant development. The convenience and nutritional benefits offered by these products have made them an integral part of neonatal care strategies.
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Abbott
Mead Johnson
Nutricia
Nestle
Leo Nutriscience
SMA HCP
NeoKare HCP
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Breast Milk Fortifier Market
Online Store
Offline Store
Based on Types the Market is categorized into Below types that held the largest Breast Milk Fortifier market share In 2023.
Liquid
Powder
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Breast Milk Fortifier Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Breast Milk Fortifier Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Breast Milk Fortifier Market, By Type
6. Global Breast Milk Fortifier Market, By Application
7. Global Breast Milk Fortifier Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Breast Milk Fortifier Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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