LONDON--(BUSINESS WIRE)--The global formula milk dispenser machines market is expected to grow at a CAGR of more than 14% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global formula milk dispenser machines market by technology that includes manual formula milk dispenser machines and smart formula milk dispenser machines. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: surge in the number of working women and high disposable income
In mature markets such as the US and in Western European countries, the emergence of a generation of older and wealthier mothers has helped in boosting market expansion. At present, consumers, particularly women, are becoming more career-driven, working longer hours, and pursuing further educational training courses outside of work to boost their career prospects. Owing to the lifestyles becoming more hectic because of added work pressures, women tend to spend less time with their families. These factors compel them to adopt these machines. The growth is further fueled by their high incomes.
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Market trend: introduction of smart formula milk dispenser machines
Lately, the automated products have been in high demand. The demand for smart formula milk dispenser machines is also on the rise due to factors such as convenience and comfort. Several players provide automation systems with remote access through smartphones and other mobile computing devices. The adoption of smart products has been increasing over the years. This corresponds to high demand for smart baby formula milk dispenser.
According to a senior analyst at Technavio for home, kitchen, and large appliances research, “A key player introduced a smartphone-controlled automatic formula dispenser. The machine is designed to make a bottle of formula milk in one minute, providing fluid-temperature controls, a water filter, and a smartphone app. The machine connects to the app through Wi-Fi to track feedings and records important nutritional information and other items concerning the baby's health.”
Market challenge: low product awareness and penetration in developing countries
The awareness regarding formula milk dispenser machines is very less in rural areas and underdeveloped economies. A substantial percentage of the population in underdeveloped economies and rural areas still prefer traditional methods. The lack of technological exposure and low product awareness contribute to the minimal demand for formula milk dispenser machines in such markets. The sales of formula milk dispenser machines in APAC is lower than that of developed economies such as the Americas and EMEA.
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