India's increasingly affluent families will contribute to 35% growth in the baby milk market between 2017 and 2021, according to a forecast by GlobalData. The prediction comes as more companies have entered the sector, chipping away at Amul and Nestlé's 83% market share in 2017. Abbott India has increased its share considerably over recent years, mainly in more affluent urban areas. "The Baby Milk Market is expected to grow from USD 100 billion today to USD 200 billion within five years," said Ajay Gupta, managing director of Global Dairy Industry Research (GDRI).
India's increasingly affluent families will contribute to 35% growth in the baby milk market between 2017 and 2021, according to a forecast by GlobalData. The prediction comes as more companies have entered the sector, chipping away at Amul and Nestlé's 83% market share in 2017. "The Baby Milk Market is expected to grow from USD 100 billion today to USD 200 billion within five years," said Ajay Gupta, managing director of Global Dairy Industry Research (GDRI).