The infant formula ingredient market is primarily driven by the increasing demand for infant feed products in the households to provide infants with the essential nutrients. According to the World Health Organization (WHO), every year in sub-Saharan Africa, 1.16 million babies die in the first month of life, making the region with the highest infant mortality rate. As a result, providing life-saving care to these infants and pregnant mothers is vital in the region due to which multiple organizations and associations are willing to take the initiatives to provide better health essential packages and facilities in the region. For instance, according to the African Development Bank Group (AfDB group), the proportion of underweight children has decreased considerably from 34 percent in 1990 to 24 percent in 2012 and is further seeing a decline. Increasing disposal incomes in the African region will also create upswings for market growth.
COVID -19 Impact
The impact of the novel coronavirus outbreak is visible in all sectors globally. It has led to widespread disruption in the supply chain leading to an increase in inventory and few buyers. Furthermore, the sealing of borders and limited transportation is changing the very meaning of globalization. Disruption of trade has boosted the raw material prices that are likely to further impact the market growth of the infant formula ingredient market in the coming months.
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Global Infant Formula Ingredient Market: Segmentation
Global Infant Formula Ingredient Market: Regions Covered
Central and South America, and the Caribbean
The Middle East
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now