(MENAFN- EIN Presswire) Mena Infant Milk Formula Market
The MENA infant milk formula market is anticipated to grow from US$ 1,744.3 Mn to US$ 4,219.3 Mn, at a CAGR of 13.5% in terms of revenue forecast period, 2022
NEW YORK, NY, UNITED STATES, November 24, 2022 /einpresswire.com / -- From US$ 1,744.3 Mn in 2014 to US$ 4,219.3 Mn in 2021, 'mena infant milk formula market' is projected to increase at a CAGR of 13.5% in terms of revenue (2015–2021). Growing consumer awareness of the need for appropriate nutrition for a newborn and the growing popularity of infant milk formula in the MENA region are two factors that are expected to support the segment's growth over the forecast period.
All vital nutrients and energy needed by infants for healthy growth and development are included in infant milk formula. The most popular newborn milk formula includes lactose, vegetable oils, whey and casein proteins, as well as additional components.
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MENA Infant Milk Formula Market: The OEMs
Key players in the MENA Infant milk formula market include Groupe Danone, Aspen Pharmacare Holdings Limited, Almarai, Nestlé S.A., Behdashtkar, Lacto Misr, Nutridar Company Plc, Ausnutria Hyproca B.V., Saudi Centre Group, Abbott Laboratories, RIRI Baby Food Co.
In 2014, the online retail segment was valued at US$ 33.7 Mn and is expected to reach US$ 39.1 Mn by the end of 2015. The segment is expected to register the highest CAGR of 16.2% over the forecast period, followed by the supermarkets segment in terms of value. Online retail business is rapidly growing in the MENA region. There are various brands of infant milk formula that are available through online portals.
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The MENA infant milk market is segmented as follows:
By product type
•Starting milk formula
•Follow-on milk formula
•Toddlers milk formula
By distribution channel
•Specialty store
•Supermarkets
•Online retail
•Chemist/pharmacies/drugstore
•Others
By region
•GCC
•Bahrain
•Kuwait
•Oman
•Qatar
•Kingdom of Saudi Arabia (KSA)
•United Arab Emirates (UAE)
•North Africa
•Algeria
•Egypt
•Morocco
•Tunisia
•Rest of Middle East
•Iraq
•Jordan
•Lebanon
•Yemen
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Regarding Online Retail
The value of the online retail market was $33.7 million in 2014, and by the end of 2015, it is anticipated to rise to $39.1 million. In terms of value, the category is anticipated to grow at the greatest CAGR of 16.2% over the projection period, followed by the supermarkets segment. The MENA area is experiencing significant growth in online retail. Infant milk formula comes in a variety of brands and can be purchased online.
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