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NEW YORK, Feb. 4, 2021 /PRNewswire/ -- The global
infant nutrition market is projected to grow at a CAGR of 7.7
percent to reach an incredible $61.6
billion by 2026. One of the major demographic factors
contributing to this rapid growth is a fast growing population of
young working mothers around the world relying on the convenience
of infant nutrition formulas. According to the Journal of Taibah
University Medical Sciences, many young mothers participating in
the workforce lack the time for frequent and lengthy breastfeeding,
creating intense demand for nutritious formula alternatives.
Furthermore, markets in developed countries have seen an increased
focus on health in recent years. These factors are contributing to
huge opportunities for companies in the infant nutrition space,
such as Else 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 Market Footprint
As the infant nutrition market surges, Isreal-based food and
nutrition company Else Nutrition (TSXV:BABY) (OTCQX:BABYF)
is capitalizing on the rise of plant-based foods and increased
focus on consumer health. Else Nutrition has developed a 100
percent plant-based, non-soy, and GMO-free infant nutrition formula
that meets the highest standard for nutrition and industry
standards to be considered a clean label product. At a time when
nutrition products that parents can trust are in higher demand than
ever, Else Nutrition is bringing to market a highly
disruptive product that is backed by leading US pediatricians and
nutritionists.
In recent months, Else has made significant headway
distributing its infant nutrition products in the North American
market. The company successfully launched its products online
through its e-store and via Amazon in 2020 and Else products
are now being made available at a rapidly growing list of major US
retailers. On December 23, the
company announced that beginning in February
2021, its products would be available at major US health
food retailer Sprouts Farmers Market. In early January, Else
announced that plant-based food ecommerce retailer PlantX would be
stocking Else products as part of PlantX's newly created
baby products section on its ecommerce platform. On February 2, Else announced that it had
signed an agreement with Thrive Market, a US-based online retailer
of wellness, nutrition, and better-for-you food products, providing
the company with yet another valuable distribution channel.
On January 27, Else
announced that its products had been chosen for the high-profile
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 to better serve market
demands. This selection represents a significant feather in
Else's cap and could open numerous doors for the
company.
"We are thrilled to have our products chosen for this unique
program. KeHE offers best in class distribution and via the Elevate
program we will be able to increase our brand awareness and
visibility across the U.S. channels served by KeHE," Else
Nutrition CEO and Co-Founder Hamutal
Yitzhak said in the company's release.
Infant Nutrition Companies Update Offerings Amid Market
Surge
Abbott Laboratories (NYSE:ABT), makers of Similac baby
formula, released an earnings and revenue report on February 1 showing better-than-expected growth in
2020 amid challenging pandemic-related market factors. Among other
key indicators, the company posted 5 percent sales growth in the
pediatric nutrition segment led by the increased market share of
Abbott's Similac infant formula brand.
Danone (OTCQX:DANOY), maker of Aptamil, Karicare,
Laboratoire Gallia, and Nutrilon brand formulas, announced last
year that the company would be launching a tracking service that
helps users follow the supply chain of its products. Danone hopes
that this approach will help foster greater transparency and
consumer trust in its products.
Rather than focusing on the infant formula market, Kraft
Heinz Co (NASDAQ:KHC) offers a range of products for infants
aged from under six months to over twelve months under its Heinz By
Nature brand. Kraft Heinz revamped its baby nutrition line last
summer with a greater focus on all-natural, plant-based
offerings.
Walmart Inc's (NYSE:WMT) store brand Parent's Choice
infant formula is one of the top selling infant formula brands in
the United States market for its
lower cost compared to its competitors. Recently, Walmart has been
undergoing a significant overhaul of its Parent's Choice brand,
adding about 120 new products and improving another 100.
The infant nutrition market is surging, but it is also ripe for
disruption from innovative and nutritious products that capitalize
on ongoing trends in the food industry. This is why there is a huge
opportunity for innovative infant nutrition companies like Else
Nutrition.
For more information on Else Nutrition, click
here.
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