Increasing numbers of working parents is the key contributor to the expanding growing-up milk market, which is set to see an impressive 5.9 per cent volume growth for 2018.
New research from Fact.MR has shown a rise in discretionary income resulted in a larger consumer base accessing ready-to-serve toddler nutrition products, such as growing-up milk products.
Asia-Pacific and the Middle East and Africa (MEA) are the most lucrative regional markets for growing up milk, with a revenue share of around 60 per cent. High fertility rates and low mortality rates in developing countries have helped the growing-up milk market in these regions.
The fertility rate in the Asia-Pacific region has been relatively higher in the past few years. The birth rate in China has increased since the Chinese government dropped the one-child policy and consumers are becoming more aware of the importance of child nutrition.
Reducing preventable deaths of infants and toddlers in Africa is one of the Sustainable Development Goals set by the United Nations General Assembly, which could be a factor in the adoption of nutritional supplement products in the MEA region.
Manufacturers are adopting innovative strategies in the development of growing-up milk products to attract more on-the-go parents.
While the World Health Organization does not recommend growing-up milk products, manufacturers marketing and branding strategies are convincing parents that the products can help children to transition from breastfeeding to adult food.
Animal-based growing up milk products are proving to be more popular than plant-based versions, with 82 per cent revenue share in the market. Although plant-based dairy products are growing in popularity among adult consumers, animal-based is the preferred choice for their young children or toddlers.
The increasing number of vegan consumers will likely influence these purchasing decisions in the future.