The current situation and prospects of the maternal and infant industry can be analyzed in detail from multiple aspects such as market size, consumption trends, and policy environment.
Market size
In 2023, the market size of maternal and infant health products in China reached RMB 128 billion, a year-on-year increase of 15%. It is expected to reach RMB 160 billion by 2025, with a compound annual growth rate of 12%. At the same time, the scale of China’s maternal and infant market (consumption scale) reached RMB 4,050.5 billion in 2023, a year-on-year increase of 7.86%, and it is expected to maintain a stable growth trend in the future. The global maternal and infant products market is also growing. In 2023, the global maternal and infant care products market size was US$185.9 billion, and it is expected to reach US$308.4 billion by 2030, with a compound annual growth rate of 8%.
Consumption Trends
The consumption trend of maternal and infant health products in China shows the characteristics of high-end and personalized demand. Consumers are increasingly inclined to choose high-quality and high-safety products. The market share of high-end maternal and infant health products has reached 45%, an increase of 10 percentage points from 2020.
In addition, personalized and customized maternal and infant health products are gradually becoming popular, such as special formula milk and nutritional supplements for infants of different age groups. In the global market, with the improvement of consumption capacity and quality of life, the demand for healthy, high-end, intelligent and high-quality maternal and infant products is also increasing, driving the upgrading of market consumption.
Policy environment
In recent years, China has introduced a number of policies to support the development of the maternal and infant industry, including the three-child policy, “expanding domestic demand”, “releasing consumption potential” and other measures. These policies have provided a good environment for the development of the industry and promoted the growth of the market size. Although the birth rate continues to decline, policy support has enabled the maternal and infant market to maintain a certain growth momentum.
Competition landscape and major companies
In the Chinese market, Newmans is an important player. However, Newmans’ performance declined in the first half of 2024, mainly due to consumer stockpiling and high base effects caused by Japan’s discharge of radioactive wastewater in the second half of last year.
Despite this, Newman’s core product, algae oil DHA, still has a certain degree of recognition in the market, but its business is highly dependent on its supplier DSM Group and lacks independent production and R&D capabilities.
Post time: Dec-26-2024