Singapore Infant Formula Market Driven By Rising Consumer Awareness For Nutritious Formula Milk

 

The Singapore infant formula market is anticipated to witness high growth owing to rising consumer awareness for nutritious formula milk. Infant formula products include first infant formula, follow-on formula, and specialty baby formula which provide complete nutrition to infants. These products are widely accepted by parents as a safe alternative to breast milk. The need for infant formula arises mainly due to improper lactation in mothers and busy lifestyles restricting breastfeeding.

The Global Singapore infant formula market is estimated to be valued at US$ 1,005.4 Mn in 2024 and is expected to exhibit a CAGR of 9.4% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the Singapore infant formula market are Little Etoile, Bellamy's Organic, Nan Nestle, Similac, Enfamil, Friso Gold, Little Oak, Karihome, Hipp, and Dumex. These players are focusing on new product launches, acquisitions, and partnerships to expand their market share.

Various research and development activities are ongoing to introduce infant formulas addressing specific nutrition requirements. The market offers opportunities for organic, lactose-free, soy-based, and kosher certified specialty formulas.

Leading players are expanding their geographical footprint in countries across Asia Pacific through distributor partnerships. Increased penetration in rural areas and developing nations present lucrative prospects.

Market Drivers

Rising disposable incomes in Singapore coupled with growing dual-income households have increased the demand for convenient packaged infant foods. Working mothers prefer formula milk over breastfeeding due to ease of preparation.

Market Restraints

Stringent regulations pertaining to product quality, labeling, and advertising infant formulas are in place. Full compliance increases operational costs for manufacturers. Furthermore, negative publicity over product recalls dent consumer confidence in the market.

Segment Analysis

The Singapore infant formula market is divided into standard infant formula and follow-on formula. The standard infant formula segment currently dominates the market and accounts for over 60% of the total sales. This is because standard formula is recommended for infants between births to 6 months as their primary source of nutrition. Parents usually opt for international brands for standard formula since it closely mimics breast milk and provides complete nutrition.

Within follow-on formula, growing up milk for infants 6-12 months is the fastest growing sub-segment. This is because as babies transition towards solid foods at around 6 months, they still require nutrient-dense liquids to meet their nutritional needs. Popular brands offer follow-on formulas tailored for this age group with higher calories, proteins and vitamins.

Global Analysis

Regionally, Singapore dominates the ASEAN infant formula market. The presence of expatriate population along with nuclear families driving demand for convenience products are major factors for its leading position. Chinese mothers also trust Singapore brands due to perception of high quality and safety standards. Going forward, Vietnam and Indonesia are expected to witness highest growth in the region. This is supported by improving economic conditions, rising birth rates and increasing birthrates. Additionally, changing lifestyles and working women are making parents more receptive to formula feeding in Vietnam and Indonesia.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

 

Get more insights on this topic: https://www.newsanalyticspro.com/singapore-infant-formula-market-to-witness-high-growth-owing-to-rising-working-women-population/

 

Author Bio:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. (LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )

 

What Are The Key Data Covered In This Singapore Infant Formula Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Singapore Infant Formula's growth between 2024 and 2031.

:- Accurate calculation of the size of the Singapore Infant Formula and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Singapore Infant Formula Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Singapore Infant Formula vendors

FAQ’s

Q.1 What are the main factors influencing the Singapore Infant Formula?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Singapore Infant Formula companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Singapore Infant Formula’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

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