The global amino acid-based formula market amassed revenue worth US$ 738.4 Mn in 2020. Fact.MR, a market research and competitive intelligence provider, has recently published a revised industry analysis, which estimates the market to rise at a CAGR of 7.4% and be valued at around US$ 1,363 Mn by 2031.
Even though amino acid-based formula accounts for around 2.5% of the overall amino acid market, which was worth around US$ 28.6 Bn in 2020, protein intake among infants across the globe is anticipated to rise steadily over the next ten years, boding well for amino acid-based formula industry expansion.
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According to Fact.MR analysis, from 2016 to 2020, consumption of amino acid-based formula increased at a CAGR of 6.1%, wherein, countries such as China, Japan, India, Germany, and the U.S. held significant shares in the global market.
Infants suffering from severe allergy to milk and various gastrointestinal conditions, including malabsorption syndrome and food protein-induced enterocolitis syndrome, need proper infant milk formula. Amino acid formula is a type of infant milk formula widely chosen across the globe. Although the taste of this milk formula is not preferred by infants, its exceptional benefits outweigh this minor drawback.
Not only as an infant milk formula but amino acid-based formula has also been used to fulfil the protein requirements of infants. Growing food and milk allergy in infants across the globe driving consumption of amino acid-based formula. It is anticipated that demand for amino acid-based formula is expected to rise in the next ten years as focus on the infant food industry in various regions of the world grows.
The amino acid-based formula market is primarily driven by growing concern regarding baby health, including the need for nutritional foods to combat skin diseases.
Promising demand dynamics such as suboptimal breastfeeding rates and fertility rates lead to early dependence on breast milk substitutes. Changes in lifestyles of people across the globe are also driving requirement for infant formula. Working women are highly in favour of infant formula because they get to spend less time with their babies during workdays.
As per the Global Breastfeeding Outlook, 2019 by the United Nations Children’s Fund (UNICEF) and World Health Organization (WHO), the rate of breastfeeding remains sub-potential as compared to standard recommendations across the globe.
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The report reveals that top manufacturers of Amino acid formula include Neocate, Abbott, Ausnutria, Nestle, Mead Johnson, and Aptamil. Key amino acid-based formula brands are focusing on increasing their market share in the Asia Pacific and European markets through joint ventures and entering into strategic partnerships with regional players and investment groups.
On the other hand, regional market players are focusing on forging long-term relationships with prominent distributor and pharmaceutical companies to sustain continuous revenue flow. In addition, global and domestic manufacturers are focusing on adopting an alternative way of selling, such as online channels, to gain more coverage in the marketplace.
For More Insights- https://www.einpresswire.com/article/556502949/growing-demand-for-sanitizers-during-pandemic-gives-traction-to-the-market-for-99-triethanolamine
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