USD 65.2 billion
Infant Formula Ingredients Market Size, Share, Growth Analysis, By Type (Infant Milk, Follow On Milk), By Ingredient (Carbohydrate, Fat), By Distribution Channel (Online, Offline), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG30I2311 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
64
|Figures:
75
Infant Formula Ingredients Market Insights
Infant Formula Ingredients Market size was valued at USD 0 Billion in 2023 and is poised to grow from USD 0 Billion in 2024 to USD 0 Billion by 2032, growing at a CAGR of 9.3% during the forecast period (2025-2032).
The global infant formula ingredients market has seen significant growth over the years due to the increasing demand for high-quality infant formula and growing awareness of the importance of the right infant formula. Factors driving the market include growing working population, urbanisation, and changing lifestyles, which have led to an increase in the number of women choosing infant formula as a substitute for breastfeeding.
Additionally, advances in research and development have resulted in the introduction of innovative and specialised ingredients that mimic the nutritional value of breast milk and growth of the fuel market. In addition, the growing middle-class population in developing regions and the number of working women in urban areas have increased the use of infant formula and increased the demand for infant formula ingredients. However, the global infant formula ingredients market also faces several challenges.
One of the biggest challenges is the strict regulatory framework for infant formulas. The market is subject to strict regulations to ensure the safety and quality of infant formula ingredients. Complying with these regulations and obtaining the necessary permits from regulatory authorities can be time-consuming and expensive for manufacturers. In addition, concerns about the safety and authenticity of certain ingredients used in infant formulas have increased consumer awareness and led to increased scrutiny of ingredient sourcing and processing. Maintaining transparency and adhering to strict quality control measures are crucial for companies to gain consumer trust in the market. In addition, cultural and social factors in some regions continue to favour breastfeeding, which limits the growth potential of the market in some regions. Manufacturers must meet these challenges while meeting the evolving nutritional needs of infants and develop innovative, safe and science-backed infant formula ingredients to support growth in the global infant formula ingredients market.
US Infant Formula Ingredients Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Cow milk
Fastest Growth
Cow milk
Growth Rate
9.3% CAGR
Global Infant Formula Ingredients Market ($ Bn)
Country Share for Asia-pacific Region (%)
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Infant Formula Ingredients Market Segmental Analysis
Global Infant Formula Ingredients Market is segmented by type, ingredient, distribution channel and region. Based on type, the market is segmented into infant milk, follow on milk, hydrolysates, specialty baby milk and growing-up milk. Based on ingredient, the market is segmented into carbohydrate, fat, protein, minerals, vitamins and others. Based on distribution channel, the market is segmented into Online, Offline (Hypermarkets & Supermarkets, Pharmacy/Medical Store, Specialty Stores, Others). Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Infant Formula Ingredients Market Analysis By Source
The global infant formula ingredients market can be segmented by source into four categories, namely, cow milk, protein hydrolysates, and others. Among these segments, cow milk emerges as the dominant category in the infant formula ingredients market. Cow milk-based ingredients are the most widely used in infant formula products due to their composition resembling that of breast milk in terms of essential nutrients such as proteins, fats, and carbohydrates. Cow milk-based ingredients are easily digestible for most infants and are a popular choice among manufacturers, making it the dominant source in the market.
On the other hand, protein hydrolysates represent the fastest-growing segment in the global infant formula ingredients market. Protein hydrolysates are derived from cow milk or soy and are broken down into smaller peptides, making them easier to digest for infants with allergies or sensitivities to whole proteins. The growing awareness of lactose intolerance and milk allergies among infants has driven the demand for protein hydrolysates-based infant formula products, leading to the segment's rapid growth.
Infant Formula Ingredients Market Analysis By Application
The global infant formula ingredients market can be segmented by application into four categories, namely, standard infant formula, growing-up milk, specialty formula, and follow-on formula. Among these segments, Standard Infant Formula emerges as the dominant category in the infant formula ingredients market. Standard Infant Formula is the most commonly used type of infant formula, typically recommended for infants up to six months of age as a complete breast milk substitute. This segment's dominance is attributed to the widespread adoption of standard infant formula products by parents and caregivers globally, driven by factors such as convenience, availability, and nutritional adequacy.
On the other hand, the fastest-growing segment in the global infant formula ingredients market is specialty formula. Specialty Formula refers to infant formula products designed to cater to specific nutritional needs or health conditions of infants. These formulas are formulated for infants with allergies, lactose intolerance, reflux issues, or other special dietary requirements. The increasing prevalence of allergies and digestive issues among infants, along with the rising awareness of specialised formula options, has fueled the demand for specialty formula products, making it the fastest-growing segment in the market.
Global Infant Formula Ingredients Market By Source
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Infant Formula Ingredients Market Regional Insights
Asia Pacific emerges as the dominant segment in the infant formula ingredients market. Asia Pacific's dominance can be attributed to the region's large population, rapid urbanisation, and increasing disposable incomes. The growing middle-class population in countries like China and India has resulted in higher demand for infant formula products, driving the need for quality infant formula ingredients. Additionally, government initiatives promoting child nutrition and the rising awareness of the importance of infant health have further fueled the market's growth in the region.
The fastest-growing region in the global infant formula ingredients market is Latin America. The market in Latin America is witnessing significant growth due to factors such as improving healthcare infrastructure, increasing per capita income, and growing awareness of the benefits of infant formula feeding. Moreover, urbanisation and changing lifestyles have led to an increase in the number of working mothers who opt for infant formula as an alternative to breastfeeding. As a result, there is a rising demand for high-quality infant formula products in the region, driving the need for advanced infant formula ingredients.
Global Infant Formula Ingredients Market By Region
- Largest
- Fastest
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Infant Formula Ingredients Market Dynamics
Infant Formula Ingredients Market Drivers
Rising Demand for Infant Formula Products
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Growing awareness of the importance of infant nutrition and a growing working population has led to an increase in demand for breast milk substitutes as a suitable replacement for breastfeeding. This increases the need for high-quality formula ingredients to ensure optimal infant nutrition.
Urbanisation and changing lifestyles
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Urbanisation and changing lifestyles, especially in developing economies, have led working women to choose infant formula. As more and more mothers return to work, the demand for convenient and nutritious infant formula has increased, as has the demand for infant formula ingredients.
Infant Formula Ingredients Market Restraints
Strict regulatory framework
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The infant formula industry is subject to strict regulations to ensure the safety and quality of infant formula and ingredients. Complying with these regulations and obtaining the necessary approvals can be time-consuming and expensive for manufacturers.
Breastfeeding promotion and cultural factors
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Efforts to promote breastfeeding as the primary method of infant nutrition, supported by initiatives from global health organisations, may hinder the growth of the infant formula market. The use of infant formula and ingredients may also be restricted by cultural beliefs that favour breastfeeding in certain areas.
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Infant Formula Ingredients Market Competitive Landscape
The global infant formula ingredients market features a competitive landscape with several key players offering a diverse range of ingredients catering to the specific nutritional needs of infants. These companies invest heavily in research and development to develop innovative and safe infant formula ingredients that closely mimic the composition of breast milk. The competitive landscape is characterised by a focus on product differentiation, quality, and adherence to stringent regulatory standards to ensure infant formula safety and nutritional adequacy. As the market continues to grow, companies are also forming strategic partnerships and collaborations to expand their market presence and leverage each other's expertise in ingredient development and sourcing. Moreover, with the increasing emphasis on sustainable and eco-friendly practices, companies are incorporating sustainable sourcing methods and environmentally friendly manufacturing processes to address the growing demand for organic and clean-label infant formula ingredients.
The competitive landscape is also influenced by consumer preferences for non-GMO and allergen-free ingredients, prompting companies to develop ingredients that meet these specific criteria. In this dynamic and evolving market, companies strive to stay ahead by continuously innovating and meeting the evolving nutritional needs and health concerns of infants. While the competitive landscape is dominated by established players, new entrants and startups are also entering the market with niche and specialised infant formula ingredients.
Infant Formula Ingredients Market Top Player’s Company Profile
- Fonterra Co-operative Group Limited
- AAK AB
- Royal FrieslandCampina N.V.
- Synlait Milk Ltd.
- Abbott Laboratories
- Reckitt Benckiser Group plc
- Danone S.A.
- Nestlé S.A.
- The a2 Milk Company
- Mead Johnson Nutrition Company
- Perrigo Company plc
- Bellamy's Organic
- Hain Celestial Group, Inc.
- Beingmate Baby & Child Food Co., Ltd.
- Yashili International Holdings Ltd.
- Biostime International Holdings Ltd.
- Arla Foods amba
- Hero Group
- Morinaga Milk Industry Co., Ltd.
- Meiji Holdings Co., Ltd.
Infant Formula Ingredients Market Recent Developments
-
In May 2023, DuPont Nutrition and Health announced the launch of a new line of infant formula prebiotics. These prebiotics are designed to improve the gut health of babies and develop a healthy immune system.
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In June 2023, Kerry Group announced the acquisition of Prolacta Bioscience, a leading producer of human lacto-oligosaccharides (HMO) for infant formula. This acquisition will allow Kerry to expand its product range and reach new markets.
Infant Formula Ingredients Key Market Trends
- Allergen-Free Ingredients: Infant formula ingredients that are free from common allergens, such as soy, gluten, and dairy, gained attention among parents and caregivers. Ingredients suitable for infants with allergies or sensitivities were in high demand, leading to increased research in this area.
- Customization and Personalization: The trend towards personalised nutrition extended to the infant formula market. Companies were exploring ways to offer customised infant formula ingredients to meet specific nutritional needs and address individual health concerns.
Infant Formula Ingredients Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global infant formula ingredients market analysis, Asia Pacific stands as the dominant region in the infant formula ingredients market, fueled by its large population and rising disposable incomes. On the other hand, Latin America represents the fastest-growing region, experiencing a surge in demand for infant formula products and ingredients due to increasing awareness and changing lifestyle patterns. The Global Infant Formula Ingredients Market has experienced significant growth and transformation, driven by a combination of factors such as the increasing demand for high-quality infant formula products, changing consumer preferences, and advancements in research and technology. The market has witnessed a shift towards premium and specialty ingredients, with a focus on ingredients that closely mimic the composition of breast milk and offer potential health benefits for infants. Clean-label and organic ingredients, as well as non-GMO options, have gained popularity as parents become more conscious of the source and safety of infant formula products. Technological advancements and research efforts have led to the introduction of innovative ingredients, including those that support gut health and immune system development in infants. Moreover, sustainable sourcing practices and environmental initiatives have become crucial considerations for ingredient manufacturers as consumers prioritise sustainability and environmental responsibility. The market's emphasis on customization and personalised nutrition reflects the increasing recognition of individual health needs and preferences. Regulatory compliance and safety remain paramount, shaping the industry's commitment to ensuring the highest quality and safety standards. As the global population continues to grow, and urbanisation progresses, the demand for infant formula ingredients is expected to remain robust. Manufacturers in the Global Infant Formula Ingredients Market are positioned to capitalise on these trends by continuously innovating, meeting changing consumer needs, and adhering to global regulatory standards to provide infants with the best possible nutrition.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 65.2 billion |
| Market size value in 2031 | USD 145.15 billion |
| Growth Rate | 9.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Infant Formula Ingredients Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Infant Formula Ingredients Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Infant Formula Ingredients Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Infant Formula Ingredients Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Infant Formula Ingredients Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Infant Formula Ingredients Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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