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

Global Infant Formula Market size was valued at USD 31868.8 million in 2019 and is poised to grow from USD 35237.5 million in 2023 to USD 78273.3 million by 2031, growing at a CAGR of 10.6% in the forecast period (2024-2031).

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.