Standard Milk Formula Market, APAC Standard Milk Formula Market, Global Standard Milk Formula Market
Standard milk formula market in the Asia-Pacific is significantly influenced by transformations in the retail sector as a consequence of proliferation in online platforms. This has further paved potentially lucrative avenues for standard milk formula producers in the region, enabling them to market and sell their products to the tier II areas. Growing permeation of ecommerce and online sales platforms for consumer goods is a key factor upholding growth of the standard milk formula market in the APAC.
Manufacturers of standard milk formula in China have been leveraging the ecommerce platforms for enhancing their product sales, despite shrinking market shares of dairy producers owing to introduction of the country’s two-child policy and rising milk prices. Ecommerce boom has further resulted in collaboration of international and domestic manufacturers of standard milk formula with online platforms, which in turn has led toward an extended product selling. Product development strategies have extended beyond being in line with consumer preference, to brand promotions and logistics, which in turn has resulted in increased sales of standard milk formula, thereby mitigating impact of rising milk costs.
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A recent Fact.MR study offers analysis on the standard milk formula market in APAC, by bifurcating the region into Asia-Pacific excluding Japan (APEJ) and Japan. Majority share of the APAC standard milk formula market will remain concentrated in APEJ, with revenues projected to increase at an impressive 6.0% CAGR through 2027. On the contrary, revenue growth for standard milk formula market in Japan will remain sluggish over the period of forecast, 2018 to 2027.
The report also offers analysis on the standard milk formula market at a global level. The standard milk formula market across the globe is foreseen to record an average 4.7% CAGR through 2027, underpinned primarily by growing demand for premium infant nutrition products in parallel to increasing number of working women worldwide. Growth of the standard milk formula market will also remain influenced by key macroeconomic aspects that include gradual rise in disposable incomes of consumers in developing economies coupled with significant rise in birth rates in these nations.
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Bottles and jars will continue to remain preferred packaging methods for standard milk formula, owing to their relatively higher convenience in transportation and distribution. However, cans are witness a comparatively faster rise in sales owing to their cost-effectiveness, yet dominance of bottles and jars will prevail in terms of revenues. Highly competitive nature of the standard milk formula market has led the players to focus on product differentiation as a key sustenance and sales enhancement strategy. Blending imperative substances present in breast milk that include omega oils, probiotics and prebiotics, are being added to standard milk formula by manufacturers, along with compliance with clean-label trend to win consumer loyalty and boost their sales.
Preeminence of conventional standard milk formula is expected to be at risk, as they are derived from crops grown by using chemical fertilizers and pesticides. Organic standard milk formula is expected to witness a significant momentum, as they comprise of bacteria that facilitate infant’s developmental growth, devoid of side-effects.
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