Global Human Milk Fortifier Market Analysis, Trends and Forecasts 2023-2024 & 2029: Expansion in Emerging Economies, Rising Consumer Online Buying Trends, New Ways of Feeding Fortifiers to Infants - ResearchAndMarkets.com

The "Global Human Milk Fortifier Market: Analysis by Form (Powder and Liquid), Distribution Channel (Offline and Online), Region Size, Trends and Forecast up to 2029" report has been added to ResearchAndMarkets.com's offering.

The global human milk fortifier market value in 2023 stood at US$300.28 million, and is likely to reach US$533.42 million by 2029. The market value is projected to grow at a CAGR of 10.05%, during the forecast period of 2024-2029.

Human milk fortifier market has experienced significant growth over the years primarily due to increasing incidence of preterm births worldwide. This increasing trend has created a significant demand for human milk fortifiers, as these infants require enhanced nutritional support to aid their development and growth. Additionally, increasing disposable income coupled with the growing awareness among parents about the benefits of human milk fortifiers for preterm infants has led to increased adoption.

The expansion of healthcare infrastructure, including neonatal intensive care units (NICUs), has created a favorable environment for the human milk fortifier market growth. Further as research continues to uncover the specific nutritional needs of individual premature and low birth weight infants, manufacturers are likely to develop more targeted fortifiers. Other significant trends include increasing adoption of organic and natural ingredients, rise of e-commerce, new ways of feeding fortifier etc.

The global human milk fortifier market is fragmented and competitive catering to domestic and international demand. Players operating in the global human milk fortifier market focus on providing high-quality products to fulfill customer demand. These players have a well-established customer base and dominate the market ranking with a high market share in the global human milk fortifier market.

The North America human milk fortifier market enjoyed the highest market share in 2023 as North America is known for its advanced healthcare infrastructure and high awareness levels. The region also has a strong presence of key market players like Abbott, etc. Additionally, supportive government initiatives, robust research and development activities, and a higher prevalence of preterm births requiring specialized nutritional support contribute to the market's growth.

While, Asia Pacific region has been experiencing fastest growth in the global human milk fortifier market due to higher prevalence of preterm births. Additionally, the region is witnessing rapid economic development and urbanization, leading to improved healthcare access and awareness about infant nutrition among a growing middle-class population.

Moreover, there has been increasing adoption of Western dietary patterns, rising disposable incomes, and a shift towards nuclear families, all of which contribute to higher demand for specialized infant nutrition products like human milk fortifiers. Additionally, governments in countries like China, India, and Japan are focusing on improving maternal and child healthcare outcomes, which includes promoting the use of fortified breast milk for premature infants and those with specific nutritional needs.

India is expected to register the fastest growth in the Asia Pacific's human milk fortifier market. India has a large population with a significant proportion of premature births and infants requiring specialized nutritional support. As awareness about the benefits of human milk fortifiers increases among healthcare professionals and parents, there is a growing acceptance and adoption of these products to improve infant health outcomes.

Market Segmentation Analysis

Powder segment acquired majority of share in the market in 2023 and is the fastest growing segment as well due to its longer shelf life, ease of storage, and convenience in transportation compared to liquid forms. Powdered HMFs offer greater flexibility in usage, allowing precise measurement and easy mixing with breast milk, which is particularly beneficial for healthcare providers in neonatal intensive care units (NICUs).

Additionally, the production and distribution costs for powdered forms are generally lower, making them a more cost-effective option for both manufacturers and consumers. These advantages have driven the widespread adoption and rapid growth of the powdered segment in the market.

Offline acquired majority of share in the market in 2023 due to the established trust and reliability associated with purchasing medical and nutritional products through traditional channels. Hospitals, pharmacies, and specialty stores provide direct access to HMF products, ensuring immediate availability and professional guidance, which is crucial for parents and healthcare providers.

Additionally, the offline channel benefits from longstanding relationships between manufacturers and healthcare institutions, facilitating bulk purchasing and consistent supply. While, the online segment is experiencing rapid growth in the global human milk fortifier market due to the convenience of e-commerce platforms. The widespread use of the internet and smartphones facilitates better product comparison, access to detailed product information, reviews, and home delivery services, making online shopping more appealing. Additionally, the COVID-19 pandemic accelerated the shift towards online purchasing due to social distancing measures and lockdowns, further driving the adoption of e-commerce for essential medical and nutritional products like human milk fortifiers.

Impact Analysis of COVID-19 and Way Forward

The COVID-19 pandemic had a negative impact on the human milk fortifier market. Initial lockdowns caused manufacturing and logistics delays, leading to HMF shortages. Hospitals reduced human milk bank orders due to financial and trust issues. Demand surged in neonatal intensive care units (NICUs) for fortified milk to support infants born to mothers with COVID-19. However, the economic downturn strained healthcare budgets and affected the purchasing power of parents, altering market dynamics.

In the post-COVID scenario, the human milk fortifier market has experienced gradual recovery as due to prompting shifts in distribution channels towards telehealth and e-commerce platforms. Innovations in product development, such as organic options and enhanced nutrient profiles, have catered to heightened demand for fortified nutrition. Economic recovery efforts and increased healthcare investments in emerging markets are bolstering market expansion, while manufacturers are addressing price sensitivity through diversified product offerings.

The trend towards local production aims to ensure supply chain stability amid global uncertainties, potentially fostering market consolidation through strategic partnerships and acquisitions.

Key Attributes:

Market Dynamics

Growth Drivers

• Rising Disposable Income
• Increasing Number of Preterm Births
• Growing Awareness and Advocacy
• Expansion of Neonatal Intensive Care Units (NICUs)
• Supportive Government Policies and Initiatives
• Lack of Nutrition in Breast Milk

Challenges

• Stringent Regulatory Requirements
• Limited Availability of Human Milk Donors and Ethical Concerns

Market Trends

• Rising Consumer Online Buying Trends
• Expansion in Emerging Economies
• Personalized Nutrition Trends
• New Ways of Feeding Fortifiers to Infants

Competitive Landscape

• Abbott
• Reckitt Benckiser Group PLC
• Nestle SA
• Prolacta Bioscience
• NeoLacta Lifesciences Pvt Ltd.
• Raptakos Brett & Co. Ltd.
• NeoKare Nutrition Ltd.
• Lead Care International
• Leo Nutriscience LLP
• HHPL Healthcare

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