NEW
YORK, June 14, 2024 /PRNewswire/ -- The
global plant-based protein products market size for
infants is estimated to grow by USD
611.18 million from 2024-2028, according to Technavio. The
market is estimated to grow at a CAGR of 7.66% during the forecast
period. Rise in number of working women is driving market
growth, with a trend towards growing popularity of
organic baby food products. However, declining birth rate
poses a challenge. Key market players include Abbott Laboratories,
Archer Daniels Midland Co., Batory Foods, Cargill Inc., COSUCRA,
DuPont de Nemours Inc., Emsland Starke GmbH, Glanbia plc, Ingredion
Inc., Kerry Group Plc, Koninklijke DSM NV, Nestle SA, Plantible
Foods Inc., Puris, Roquette Freres SA, Royal Avebe, Sofina SA, The Hain Celestial Group
Inc., The Scoular Co., and Wilmar International Ltd..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Distribution Channel
(Offline and Online), Product (Soy-based protein products and Other
plant-based protein products), and Geography (North America,
Europe, APAC, South America, and Middle East and Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
Abbott Laboratories,
Archer Daniels Midland Co., Batory Foods, Cargill Inc., COSUCRA,
DuPont de Nemours Inc., Emsland Starke GmbH, Glanbia plc, Ingredion
Inc., Kerry Group Plc, Koninklijke DSM NV, Nestle SA, Plantible
Foods Inc., Puris, Roquette Freres SA, Royal Avebe, Sofina SA, The
Hain Celestial Group Inc., The Scoular Co., and Wilmar
International Ltd.
|
Key Market Trends Fueling Growth
Organic baby food products, free from chemicals, pesticides,
preservatives, hormones, and antibiotics, are gaining popularity
among parents due to health concerns. The manufacturing of these
products adheres to strict regulations, using organic cereals grown
without chemical fertilizers and livestock fed organic feed. This
trend towards organic baby food will significantly contribute to
the growth of the global plant-based protein products market for
infants.
The plant-based protein market for infant products is
experiencing significant growth. Companies are concentrating on
producing textured and palatable plant-based protein sources, such
as soy, pea, and rice proteins. These products are gaining
popularity due to their dietary benefits and ethical
considerations. Consumers are looking for alternatives to
animal-derived milk formulas, and plant-based options meet this
demand. The use of chickpeas, lentils, and beans in infant formulas
is also increasing.
Additionally, the preference for convenient and easy-to-prepare
plant-based products is driving innovation in the market. The trend
towards sustainable and eco-friendly practices is also influencing
the development of plant-based protein products for
infants.
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Market Challenges
- The global plant-based protein products market for infants
faces hindrance due to declining birth rates in developed nations.
This trend is observed in countries like the US, Canada, Germany, Italy, Spain,
Belgium, and Sweden. The rise in live-in relationships and
high child-rearing costs are major reasons for the decrease in
birth rates. Consequently, this demographic shift is expected to
negatively impact the market growth during the forecast
period.
- The plant-based protein market for infant products faces
several challenges. Nutrients like essential amino acids and iron
are crucial for infant growth. Balanced diets are necessary to
ensure proper development. However, plant-based sources like soy,
pea, and rice may lack certain essential amino acids. To address
this, companies use fortification or blend different plant
sources.
- Another challenge is texture and acceptance. Infants have
unique nutritional needs and texture preferences. Creating
palatable and nutritious plant-based protein products for infants
is a complex task. Additionally, consumer education and awareness
about the benefits of plant-based protein sources for infants is
essential.
- Sustainability and ethical considerations also play a role in
the market. Overall, the plant-based protein market for infants
requires innovative solutions to meet the nutritional needs while
addressing taste, texture, and consumer awareness.
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challenges - Download a Sample Report
Segment Overview
- Distribution Channel
- Product
- 2.1 Soy-based protein products
- 2.2 Other plant-based protein products
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Offline- The offline distribution channel for
plant-based protein products for infants comprises hypermarkets,
supermarkets, and grocery and convenience stores. Organized
retailing, specifically hypermarkets and supermarkets, simplifies
purchasing for consumers with a diverse product range. Global
expansion of these retailers enhances vendor product visibility and
demand.
Consumers can select products based on price and quality, with
convenience stores being region-specific and popular due to
proximity. The ease of product availability and accessible outlets
contribute to the growth of this offline segment during the
forecast period.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The plant-based protein market for infant products is
experiencing significant growth due to shifting consumer
preferences and attitudes towards health, sustainability, and
ethical considerations. Parents are increasingly seeking out
plant-based options for their infants, with tofu, legumes, and pea
protein being popular choices. These sources of protein are not
only free from saturated fat and cholesterol but also rich in fiber
and essential nutrients, contributing to a balanced diet.
Environmental sustainability is another key factor driving the
demand for plant-based protein products. Animal agriculture is a
significant contributor to greenhouse gas emissions, depletion of
natural resources, and ecological footprint. As consumers become
more eco-conscious, they are opting for plant-based alternatives
that align with their values.
Additionally, ethical considerations, such as animal welfare and
ethical treatment, are becoming increasingly important to
consumers. Plant-based protein sources offer a solution that does
not involve the exploitation of animals, making them an attractive
option for parents looking to make ethical choices for their
infants.
Food technology is also playing a role in the growth of the
plant-based protein market for infants, with innovations in
processing and formulation making these products more accessible
and appealing to consumers. Overall, the market for plant-based
protein products for infants is expected to continue growing as
consumers prioritize health, sustainability, and ethical
considerations in their purchasing decisions.
Market Research Overview
The plant-based protein market for infant products is witnessing
significant growth due to increasing consumer awareness and
preference for sustainable and ethical food options. These products
cater to the nutritional needs of infants, providing essential
amino acids and minerals.
Plant-based sources such as soy, pea, rice, and hemp are
commonly used to produce these proteins. Legumes, nuts, and seeds
are also utilized to create textured and palatable infant formulas.
The market is driven by factors such as rising demand for
lactose-free alternatives, ethical and environmental concerns, and
the convenience of plant-based options.
Consumers are increasingly seeking out brands that offer
organic, non-GMO, and allergen-free options, further fueling market
growth. The future of plant-based protein products for infants
looks promising, with continued innovation and product development
expected to meet the evolving needs of consumers.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- Product
-
- Soy-based Protein Products
- Other Plant-based Protein Products
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio