Infant Formula Market
Report ID: SQMIG35H2033
Report ID:
SQMIG35H2033 |
Region:
Global |
Published Date: December, 2024
Pages:
242
|Tables:
62
|Figures:
75
Infant Formula Market size was valued at USD 35237.5 Million in 2023 and is poised to grow from USD 38972.68 Million in 2024 to USD 86570.27 Million by 2032, growing at a CAGR of 10.6% during the forecast period (2025-2032).
Infant formulas are specially formulated drinks for young children, ideally under a year old. To guarantee the excellent quality of the product, numerous governmental bodies such as the Food Safety and Standards Authority of India (FSSAI), the World Health Organization (WHO), and others, have precise guidelines on the formulation of infant food. Consumers can be encouraged to buy new items without concern if strict standards regarding product quality are in place. For instance, the FSSAI issued new regulations in 2019 for infant milk substitutes for premature infants, lactose-free newborn milk substitutes, and infant formulae for particular medical uses. Unfortunately, not all mothers can breastfeed: there are a few medical conditions that aren’t compatible with breastfeeding. Also, situations such as inflexible work schedules or working away from home may prevent a mother from breastfeed her baby. They simply are not in a conducive environment to breastfeeding.
The demand for infant formula was stable throughout this pandemic condition, but the long-term consequences are difficult to predict at this time due to supply chain interruptions and a detrimental effect on the product's international trade. Due to growing concerns for their newborn's health due to high risk of infection, parents are flocking toward choosing high-end products, which strengthens the baby's immune. It is challenging to forecast market data for the upcoming years due to uncertainties related to the current state of the business. To strengthen their global footprint in the face of the pandemic, the market enterprises are collaborating and going digital. For example, The Kraft Heinz Company partnered with childcare websites in China, such as Babytree, in March 2020 to distribute over 4,000 cartons of the company's infant nutrition to families in need through the Shanghai Fosun Foundation.
US Infant Formula Market is poised to grow at a sustainable CAGR for the next forecast year.
To get more reports on the above market click here to Buy The Report
Global Infant Formula Market is segmented by type, ingredient, form, distribution channel and region. Based on type, the market is segmented into infant milk and specialty formula. Based on ingredient, the market is segmented into carbohydrates, proteins, fats and vitamins & minerals. Based on form, the market is segmented into powder, liquid concentrate and ready-to-feed. Based on distribution channel, the market is segmented into supermarkets, pharmacy, specialty stores, online retail stores and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Infant Formula Market Analysis by Type
Due to the dearth of suitable alternatives in the market, the infant milk formula segment has experienced high value-based sales and is one of the leading segments in emerging nations. Manufacturers are being inspired to create and launch novel products in the infant formula market due to lack of availability of convenient and nutrient-dense products. Growing consumer spending allows them to purchase a wide variety of infant milk formula products and baby milk for their babies. According to study of the global market, the additional milk sector is expected to experience the highest CAGR over the projection period. Due to its high protein, calcium, iron, and other micronutrient content, premiumized follow-on milk formula should be able to simulate the nutritive function of breast milk, which will increase the product's market share. The demand for follow-on milk is anticipated to rise at a more manageable rate as a result of newborns with low iron levels or poor weaning diets needing extra nourishment from their food.
Demand for infant formula in the supermarket/hypermarket channels has increased rapidly. Under one roof, these mass merchandisers provide customers with improved convenience, dedicated infant areas, bundling deals, schemes, and a simple shopping experience. Furthermore, it is anticipated that these distribution channels will serve as a "one-stop-shop" for infant formula. The other rapidly expanding distribution channels are specialty stores, which offer a variety of baby foods, specialist items, breast milk alternatives, and other infant care products on a single platform. Customers are drawn to shop at specialised stores due to convenience and wide variety of products they offer. The majority of customers prefer to purchase products while being advised by a knowledgeable nutritionist who works in such specialized businesses.
To get detailed analysis on other segments, Request For Free Sample Report
Asia-Pacific is the largest market for infant formulas. During the projection period, the regional market is anticipated to grow at a CAGR of 10.88 % by 2028. Strong demand resulting from high birth rates dominates the regional infant formula market. The local industry's strong incentives and increased reliance on imports, together with the rising consumer demand for more expensive, higher-quality goods, have also contributed to the infant formula market expansion in the region. China, which is one of the world's largest consumers of newborn and baby food products also contributes to the dominance of Asia-Pacific in the global infant formula market. Additionally, it is anticipated that China's decision to end its "one-child" policy and a rise in domestic birth rates will have a beneficial effect on market expansion. Due to an increase in the number of working women and growing knowledge of the advantages and nutritional worth of the goods, demand is expanding across the Middle East and Africa. Additionally, the greater familiarity with the western way of life and the underlying soundness of the economy are likely to have a favourable effect on product demand.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Infant Formula Market Driver
Infant Formula Market Restraint
Request Free Customization of this report to help us to meet your business objectives.
The global infant formula market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their company globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability.
Top Players in the Global Infant Formula Market
Infant Formula Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Infant Formula Market Analysis, offers a thorough analysis of the industry and focuses on important factors like top businesses and popular product uses. In addition, the research analyses significant industry breakthroughs and provides insights into the major market trends. The research includes a number of additional variables that have contributed to the market expansion in recent years in addition to those mentioned above.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 35237.5 Million |
Market size value in 2032 | USD 86570.27 Million |
Growth Rate | 10.6% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Million |
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:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Infant Formula 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 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.
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 Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Infant Formula 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.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Report ID: SQMIG35H2033
sales@skyquestt.com
USA +1 351-333-4748