Infant Formula Market Size, Share, Growth Analysis, By Type(Infant Milk, Follow- On – Milk), By Distribution Channel(Hypermarkets/ Supermarkets, Pharmacy, Speciality Stores), By Region - Industry Forecast 2024-2031

Infant Formula Market Driver

• Low breastfeeding rates and fertility rates show an early reliance on breast milk substitutes. Modernization and changing lifestyles are also responsible for the growing demand for infant formula. Demand for the product among parents is being fueled by its convenience and improved composition. The infant formula market growth is anticipated to be positively impacted by the rising investment made by the key players in the research & development of novel products. For instance, Nestle S.A. inaugurated a brand-new research facility in Ireland in January 2021. For the global market, the centre will concentrate on creating innovations in milk-based newborn and maternal nutrition products.

• There has been a remarkable increase in the young working mother population. This has worked as a key factor in propelling the growth of the infant nutrition market, as these working mothers are majorly dependent on processed infant nutrition products. Stress is also currently one of the most common problems working women face, which causes low milk production in them. These factors have encouraged the adoption of convenience-oriented lifestyles, making infant formula and baby foods more desirable.

• The increasing middle-class population in the emerging and developing countries has opened new horizons in the infant nutrition market, as the need for products compatible with a working mom’s schedule is growing. The growth of the middle class, rapid urbanization, and rising rates of female participation in the labor force in many developing markets have encouraged the adoption of convenience-oriented lifestyles, making prepared baby foods and baby formula more desirable.

Infant Formula Market Restraint

• Strict guidelines for the introduction of new items and challenging registration process are hampering infant formula market growth. Additionally, a barrier to the market expansion may be the lesser acceptance of premium or expensive products in some emerging regions (caused by low per capita income).