The infant milk formula market in the MENA region is mainly driven by factors such as increasing number of working women and rising popularity of infant formula, coupled with the rapid economic growth witnessed in the region. However, factors such as rising per unit prices of infant formula and high volatile raw material prices, coupled with changing consumer preferences towards local brands that manufacture cost effective products, are some of the major factors expected to restrain the growth of the market during the forecast period.
The mena infant milk formula market is estimated to be valued at US$ 1,976.3 Mn by the end of 2015 and is anticipated to expand at a CAGR of 13.5% from 2015 to 2021, to account for US$ 4,219.3 Mn by 2021.
Request to view Sample Report @ www.persistencemarketresearch.com/samples/9001
The infant milk formula market is segmented on the basis of the region into GCC, North Africa and the Rest of Middle East. The GCC market is expected to be the highest contributor to the overall MENA market in terms of value share, followed by North Africa, by 2015 end. GCC is expected to be the fastest growing market over the forecast period (2015–2021). The growth of the GCC infant milk formula market is primarily attributed to the high presence of foreign infant milk formula manufacturers and rapid economic development in the region. Moreover, the rise in the number of drugstores is also expected to support the growth of the infant milk formula market in the MENA region. The GCC market is expected to account CAGR of 13.8% in terms of value over the forecast period. The rest of the Middle East market is expected to witness moderate growth over the forecast period, accounting for 14.1% value share of the overall market, and is expected to register a moderate CAGR of 13.5% in terms of value over the forecast period (2015–2021). An increasing number of working women and rapid economic development are the major factors expected to drive the growth of the infant milk formula market in the region.
The report provides detailed information about various market trends and offers analysis and insights into the potential of the infant milk formula market in the MENA region. Furthermore, the infant milk formula market is segmented on the basis of type into starting milk formula, follow-on milk formula, and toddlers milk formula. The starting milk formula segment is expected to be the highest contributor to the MENA market in terms of value share, followed by the follow on milk formula segment by 2015 end. The starting milk formula segment is expected to be the fastest-growing segment of the overall market over the forecast period (2015–2021). The segment is expected to expand at a CAGR of 13.9% over the forecast period in terms of revenue. The follow-on milk formula segment is expected to witness moderate growth over the forecast period. The segment is expected to register a moderate CAGR of 13.3% in terms of value over the forecast period (2015–2021).
Request to view Table of Content @ www.persistencemarketresearch.com/market-research/mena-in…
Key players operating in the infant milk formula market that is covered in the report 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.
To Buy Full Report for a Single User @ www.persistencemarketresearch.com/checkout/9001
The MENA infant milk formula market is segmented as follows:
o Kingdom of Saudi Arabia (KSA)
o United Arab Emirates (UAE)
• North Africa
• Rest of Middle East
By product type
• Starting milk formula
• Follow-on milk formula
• Toddlers milk formula
By distribution channel
• Specialty store
• Online retail
Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
PMR stands committed to bringing more accuracy and speed to clients’ business decisions. From ready-to-purchase market research reports to customized research solutions, PMR’s engagement models are highly flexible without compromising on its deep-seated research values.
Persistence Market Research
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
This release was published on openPR.