Asia-Pacific and MEA regions dominate the Tetra Packs Growing Up Milk market, accounting for over 60% of revenue during 2021-2031, driven by rising discretionary incomes and changing parental needs.
The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.
The report offers actionable and valuable market insights of Tetra Packs Growing Up Milk. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Tetra Packs Growing Up Milk Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Tetra Packs Growing Up Milk market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Tetra Packs Growing Up Milk
This newly published and insightful report sheds light on Market Insights of Tetra Packs Growing Up Milk, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Tetra Packs Growing Up Milk Market. According to a recent study published by Fact.MR,the growing up milk market will envisage an impressive 5.9% volume y-o-y growth in 2018 over 2017.
The study reveals that the growing needs of the ‘new-age’ parents to find a convenient way of meeting nutritional requirements of their toddlers is mainly providing a fillip to the growth of the growing up milk market. The study also finds new avenues of growth for growing up milk manufacturers in developing countries in the Asia Pacific and the Middle East & African region.
Some of the key findings of the Fact.MR market study include
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The Fact.MR study analyzes prominent parenting trends in various geographical regions to identify growth prospects of growing up milk market in various regions. It finds that the demand for growing up milk products is relatively higher in developing countries than that in developed countries.
Asia-Pacific and MEA Markets Hold a Revenue Share of around 60% in Growing Up Milk Market
The study reveals that Asia-Pacific and the Middle East & Africa are the most lucrative regional markets for growing up milk, and the trend is likely to continue to remain preeminent in the upcoming years. According to Fact.MR, high fertility rates and low mortality rates in developing countries create a positive environment for growth of growing up milk market in these regions.
The fertility rate in the Asia-Pacific has been relatively higher in the past few years. After the Chinese government dropped the one-child policy, the birth rate in China has increased back up again by 7.9% to reach 17.86 million during 2014-2015, according to the National Health and Family Planning Commission (NHFPC). Consumers are becoming more aware of the importance of child nutrition, which in combination with rising birth rate is creating a higher growth potential for growing up milk market players in the region.
Over 5.4 million children aged 0-5 years succumbed to death in 2017, and the risks of children dying are highest in the African region, according to the World Health Organization. Reducing preventable deaths of infants and toddlers in this region is one of the Sustainable Development Goals set by the United Nations General Assembly, which may provide an impetus to the adoption of nutritional supplement products such as growing up milk in the MEA region.
Manufacturers in the growing up milk market are focusing on developing a wide range of products that can fulfill the newly identified needs of consumers in these regions. To capitalize on the lucrative opportunities in local growing up milk markets in Asia-Pacific and the MEA region, manufacturers are adopting innovative manufacturing and packaging strategies while developing high-quality growing up milk products that can attract more on-the-go parents.
Consumers Choose Animal-based Growing Up Milk Over its Plant-based Variants
According to the Fact.MR study, animal-based growing up milk products account for a whopping 82% revenue share in the growing up milk market. Despite the growing popularity of plant-based dairy products among adult consumers, the Fact.MR study finds that consumers still trust animal-based growing up milk for their young children or toddlers.
According to a joint statement by Dietitians of Canada (DC), a national professional association for dietitians, and the Canadian Paediatric Society, a national association of pediatricians, plant-based alternatives of growing up milk must not be considered as the primary source of nutrition for toddlers. A majority of governing bodies and healthcare organizations recommend cow-milk or other alternatives of animal-based growing up milk products for toddlers.
Nevertheless, the number of vegan consumers has increased significantly across the world, which can influence the purchasing decisions of consumers in the growing up milk market in the coming future. Thereby, manufacturers and distributors in the growing up milk market are closely observing the changing preferences of modern parents to modify salient business strategies in the upcoming years.
Segmentation
In order to provide detailed information about the growing up milk market in the most comprehensible manner, the Fact.MR report divides the growing up milk market into its five broad sub-segments – source, form, packaging form, sales channels, and regions.
Based on the source, the growing up milk market is segmented into two main types –
According to the form, the growing up milk market is broadly segmented into
According to the packaging form, the growing up milk market is segmented into
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Key Question answered in the survey of Tetra Packs Growing Up Milk market report:
More Valuable Insights on Tetra Packs Growing Up Milk Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Tetra Packs Growing Up Milk, Sales and Demand of Tetra Packs Growing Up Milk, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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The article discusses the dominance of the Tetra Packs Growing Up Milk market in Asia-Pacific and MEA regions.
How has COVID-19 impacted the food industry and Tetra Packs market?
What role does discretionary income play in the market growth?
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