Consumer health trends are fueling a surge in infant nutrition
NEW YORK, February 4, 2021 /PRNewswire/ — Global Infant Nutrition Market Expected to Grow at a CAGR of 7.7% to Incredible High $61.6 billion by 2026. One of the major demographic factors contributing to this rapid growth is the rapidly growing population of young working mothers around the world who depend on the convenience of infant formula. According to the Taibah University Journal of Medical Sciences, many young working mothers do not have time to breastfeed frequently and for a long time, which creates an intense demand for nutritious alternatives. Additionally, markets in developed countries have become more focused on healthcare in recent years. These factors contribute to huge opportunities for companies in the infant nutrition sector, such as Other nutrition (TSXV: BABY) (OTCQX: BABYF), Kraft Heinz Co. (NASDAQ: KHC), Abbott Laboratories (NYSE:ABT), Danone (OTCQX: DANOY) and Walmart Inc. (NYSE: WMT).
Else Nutrition expands its market presence
As the infant nutrition market explodes, an Israel-based food and nutrition company Other Nutrition (TSXV: BABY) (OTCQX: BABYF) capitalizes on the rise of plant-based foods and the increased focus on consumer health. Other Food has developed a 100% plant-based, soy-free and non-GMO infant nutritional formula that meets the highest nutritional standards and industry standards to qualify as a private label product. At a time when nutritional products parents can trust are in greater demand than ever, Other Food brings to market a highly disruptive product supported by leading American pediatricians and nutritionists.
These last months, Other has made significant progress in the distribution of its infant nutrition products in the North American market. The company successfully launched its products online through its online store and through Amazon in 2020 and Other products are now available from a rapidly growing list of major US retailers. At December 23the company announcement which begins in February 2021, its products are said to be available at major US health food retailer Sprouts Farmers Market. Early January, Other announcement plant-based food e-commerce retailer PlantX would stock Other products under PlantX’s new baby products section on its e-commerce platform. At February 2, Other announcement that it had signed an agreement with Thrive Market, an American online retailer of wellness, nutrition and healthier food products, providing the company with another valuable distribution channel.
At January 27, Other announcement that its products had been chosen for the highly publicized KeHE Distributor’s Elevate program. This highly selective program curates unique brands and promotes them in the US market to maximize their growth and success, and better meet market demands. This selection represents a significant feather in else ceiling and could open many doors for the company.
“We are thrilled to have our products chosen for this unique program. KeHE offers best-in-class distribution and through the Elevate program we will be able to increase our brand awareness and visibility on the US channels served by KeHE. “, Other Nutrition CEO and co-founder Hamutal Yitzhak said in the company’s statement.
Infant nutrition companies are updating their offerings amid market surge
Abbott Laboratories (NYSE:ABT)manufacturers of Similac infant formula, published a profit and revenue report February 1st showing better than expected growth in 2020 amid challenging pandemic-related market factors. Among other key metrics, the company recorded 5% sales growth in the pediatric nutrition segment, driven by increased market share of Abbott’s Similac infant formula brand.
Danone (OTCQX: DANOY)manufacturer of Aptamil, Karicare, Laboratoire Gallia and Nutrilon brand formulas, announcement last year that the company would launch a tracking service that helps users track the supply chain of its products. Danone hopes this approach will help foster greater transparency and consumer confidence in its products.
Rather than focusing on the infant formula market, Kraft Heinz Co (NASDAQ: KHC) offers a range of products for infants from under 6 months to over 12 months under its Heinz By Nature brand. Kraft-Heinz revamped its baby nutrition line last summer with an increased focus on all-natural, plant-based offerings.
Walmart Inc. (NYSE: WMT) Store brand Parent’s Choice infant formula is one of the best-selling infant formula brands in United States market for its lower cost compared to its competitors. Recently, Walmart underwent a major overhaul of its Parent’s Choice brand, adding about 120 new products and improving another 100.
The infant nutrition market is booming, but it is also ripe for disruption from innovative and nutritious products that capitalize on ongoing trends in the food industry. That’s why there’s a huge opportunity for innovative infant nutrition companies like Other nutrition.
For more information on Other nutritionClick here.
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