The Global Dairy-Free Infant Formula Market is estimated to exhibit a CAGR of 9.60% during the forecast period of 2021-2028. The growing number of lactose intolerant patients is escalating the growth of dairy-free infant formula market. The dairy-free infant formula market will reach at an estimated value of USD 21.86 billion by 2028.
On the other hand, high cost associated with the product and concerns associated with the changed nutritional quality or absence of nutrients are the factors expected to obstruct the dairy-free infant formula market growth. Limited knowledge about the long term effects of the formula and the issue with the bitter taste is projected to challenge the dairy-free infant formula market.
According to Data Bridge Market Research, the dairy-free infant formula market will exhibit a significant rise in its market value. The increasing prevalence of lactose intolerance among new born babies and the rise in the population of working women act as the major factors driving the growth of dairy-free infant formula market. The rising need for substitutes to support nutritional demand, increasing issues with newborn babies’ inability to digest sugar elements and surge in the number of research and development activities in order to improve the nutritional quality of the product accelerates the dairy-free infant formula market growth. The growth shift in consumer preference towards premium and high-quality products for the better nutrition of infants, the products being certified by the government with quality check and growth in awareness regarding harmful effects of chemically synthesized products further influence the dairy-free infant formula market.
Currently, Europe dominates the global dairy-free infant formula market in terms of market share and market revenue owing to the high number of lactose intolerant population, large production of free dairy products and presence of key players in the region.
Now the question is which are the other regions that the dairy-free infant formula market is targeting? Data Bridge Market Research has estimated a large growth in Central and South America owing to the growing population of lactose intolerant new-borns and increasing disposable income especially in developing nations.
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The global dairy-free infant formula market is segmented on the basis of countries into U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Key Market Competitors Covered in Dairy-Free Infant Formula Market report
Above are the key players covered in the report, to know about more and exhaustive list of dairy-free infant formula market companies contact us, https://www.databridgemarketresearch.com/toc/?dbmr=global-dairy-free-infant-formula-market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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Global Dairy-Free Infant Formula Market – Industry Trends and Forecast to 2028