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Baby Infant Formula Market Size, Growth, Opportunities 2031
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Baby Infant Formula Market Size, Growth, Opportunities 2031

Segments - Baby Infant Formula Market by Types (Infant Milk Formula, Follow-on-Milk Formula, Specialty Baby Milk Formula, and Growing-up Milk Formula), Distribution Channels (Hypermarkets, Supermarkets, Pharmacy/Medical Store, Specialty Stores, Hard Discounter Stores, and Others), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Anuradha B. More
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Fact-checked by : Vaibhav Chandola
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Editor : Shruti Bhat

Upcoming | Report ID :FB-2821 | 4.6 Rating | 66 Reviews | 183 Pages | Format : PDF Excel PPT

Report Description


The Global Baby Infant Formula Market size was valued at USD 27.57 Billion in 2022 and is expected to surpass USD 55.57 Billion by 2031, expanding at a CAGR of 8.1% during the forecast period, 2023 – 2031. Baby infant formula is a manufactured food product designed for feeding infants who are mostly under the age of 12 months old, which is available both in powdered form or liquid form.

The powdered form of infant formula requires mixing with water before feeding it to the baby. This formula is represented for special dietary use solely as a food for infants due to its suitability as a substitute for human milk. It consists of various nutrients that are essential for the overall development and growth of infants, which makes it a popular choice among working mothers who are unable to breastfeed their infants on time.

Baby Infant Formula Market Outlook

One key aspect of the Infant formula is that it consists of various nutrients such as carbohydrates, proteins, vitamins, minerals, and others, which makes it a healthy choice for babies and at the same time it ensures their proper growth and development.

  • Rise in number of working women who are unable to breastfeed their infants all times and prefer to use alternative solutions for babies’ foods are key drivers of the market.

  • Growing concerns related to food safety of infants and rising awareness of the benefits regarding the use of balance diet of babies are expected to boost the market growth.

  • The COVID 19 pandemic had negatively impacted the market growth due to disruptions in the supply chains, owing to unavailability of labor, and economic crisis that forced to shut down many businesses. This is a key challenge that can hamper the market growth.

  • Recent trends such as the integration of crucial ingredients including probiotics and human milk oligosaccharides to the formula are expected to surge the market growth in the coming years.

  • Demand for plant-based and organic infant formulas are key factors offering lucrative growth opportunities of the market players.

Scope of Baby Infant Formula Market Report

The report on the global baby infant formula market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Baby Infant Formula Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Types (Infant Milk Formula, Follow-on-Milk Formula, Specialty Baby Milk Formula, and Growing-up Milk Formula), Distribution Channels (Hypermarkets, Supermarkets, Pharmacy/Medical Store, Specialty Stores, Hard Discounter Stores, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Abbott; Arla Foods Amba; Campbell Soups; Dana Dairy Group Ltd; Danone; D-Signstore; HiPP GmbH & Co. Vertrieb KG; Reckitt Benckiser (Mead Johnson & Company LLC); Nestle; and The Hain Celestial Group

Baby Infant Formula Market Segment Insights

Rising consumer demand drives the infant milk formula segment

Based on types, the global baby infant formula market is segmented into infant milk formula, follow-on-milk formula, specialty baby milk formula, and growing-up milk formula. The infant milk formula segment is projected to witness substantial growth in the market owing to the rising consumer preference towards the formula type.

The lack of acceptable alternatives in the market has encouraged manufacturers to develop nutrient dense infant milk formulas that keep the babies healthy and strong. The incorporation of innovative plant-based formulas that are organic in nature has significantly driven the segment growth. The follow-on milk formula segment, however, is estimated to register high CAGR during the forecast period.

This follow-on formula offers a very similar nutritional value to breast milk due to the presence of high calcium, iron, and other micronutrients in the formula. Infants with low iron levels require higher levels of iron, which is provided by the follow-on milk formula.

Baby Infant Formula Market Types

Speciality stores to gain momentum owing to wider range and variety of infant foods

On the basis of distribution channels, the market is classified as hypermarkets, supermarkets, pharmacy/medical stores, specialty stores, hard discounter stores, and others. The speciality stores segment is expected to hold significant market share on account of the wide variety of speciality products, baby foods, and breast milk substitutes that are all available on a single platform.

Additionally, customer services are available at speciality stores that help guide the customers to choose the type of infant formula, which is best for their babies. The hypermarkets segment is projected to account for a key market share due to increasing popularity of the stores due to the high concentration and availability of these stores at every locality that provide easy access for the consumers.

Asia Pacific to dominate the global market

In terms of regions, the global baby infant market is categorized as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the global market in the coming years due to the rise in the child birth rate in countries such as India and China. Moreover, the increase in number of working women who opt for infant formulas to feed their infants plays an important role for the regional market development.

Furthermore, the developments in the mother and child healthcare industry in the region has resulted in the launch of many innovative infant formulas that has substantially increased demand for the market. Surge in R&D projects undertaken by key players for the purpose of new product development and product innovations also drives the regional market.

Baby Infant Formula Market Regions

Segments

Types

  • Infant Milk Formula
  • Follow-on-Milk Formula
  • Specialty Baby Milk Formula
  • Growing-up Milk Formula

Distribution Channels

  • Hypermarkets
  • Supermarkets
  • Pharmacy/Medical Store
  • Specialty Stores
  • Hard Discounter Stores
  • Others

Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

Key Players

  • Abbott
  • Arla Foods Amba
  • Campbell Soups
  • Dana Dairy Group Lt
  • Danone
  • D-Signstore
  • HiPP GmbH & Co. Vertrieb KG
  • Reckitt Benckiser (Mead Johnson & Company LLC)
  • Nestle
  • The Hain Celestial Group

Competitive Landscape

Key players competing in the global baby infant formula market are Abbott; Arla Foods Amba; Campbell Soups; Dana Dairy Group Ltd; Danone; D-Signstore; HiPP GmbH & Co. Vertrieb KG; Reckitt Benckiser (Mead Johnson & Company LLC); Nestle; and The Hain Celestial Group. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence and increase their market share.

Baby Infant Formula Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Baby Infant Formula Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Baby Infant Formula Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Baby Infant Formula Market - Supply Chain
  4.5. Global Baby Infant Formula Market Forecast
     4.5.1. Baby Infant Formula Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Baby Infant Formula Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Baby Infant Formula Market Absolute $ Opportunity
5. Global Baby Infant Formula Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Baby Infant Formula Market Size and Volume Forecast by Types
     5.3.1. Infant Milk Formula
     5.3.2. Follow-on-Milk Formula
     5.3.3. Specialty Baby Milk Formula
     5.3.4. Growing-up Milk Formula
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Baby Infant Formula Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Baby Infant Formula Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Baby Infant Formula Demand Share Forecast, 2019-2026
7. North America Baby Infant Formula Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Baby Infant Formula Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Baby Infant Formula Market Size and Volume Forecast by Types
     7.4.1. Infant Milk Formula
     7.4.2. Follow-on-Milk Formula
     7.4.3. Specialty Baby Milk Formula
     7.4.4. Growing-up Milk Formula
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Baby Infant Formula Demand Share Forecast, 2019-2026
8. Latin America Baby Infant Formula Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Baby Infant Formula Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Baby Infant Formula Market Size and Volume Forecast by Types
     8.4.1. Infant Milk Formula
     8.4.2. Follow-on-Milk Formula
     8.4.3. Specialty Baby Milk Formula
     8.4.4. Growing-up Milk Formula
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Baby Infant Formula Demand Share Forecast, 2019-2026
9. Europe Baby Infant Formula Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Baby Infant Formula Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Baby Infant Formula Market Size and Volume Forecast by Types
     9.4.1. Infant Milk Formula
     9.4.2. Follow-on-Milk Formula
     9.4.3. Specialty Baby Milk Formula
     9.4.4. Growing-up Milk Formula
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Baby Infant Formula Demand Share Forecast, 2019-2026
10. Asia Pacific Baby Infant Formula Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Baby Infant Formula Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Baby Infant Formula Market Size and Volume Forecast by Types
     10.4.1. Infant Milk Formula
     10.4.2. Follow-on-Milk Formula
     10.4.3. Specialty Baby Milk Formula
     10.4.4. Growing-up Milk Formula
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Baby Infant Formula Demand Share Forecast, 2019-2026
11. Middle East & Africa Baby Infant Formula Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Baby Infant Formula Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Baby Infant Formula Market Size and Volume Forecast by Types
     11.4.1. Infant Milk Formula
     11.4.2. Follow-on-Milk Formula
     11.4.3. Specialty Baby Milk Formula
     11.4.4. Growing-up Milk Formula
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Baby Infant Formula Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Baby Infant Formula Market: Market Share Analysis
  12.2. Baby Infant Formula Distributors and Customers
  12.3. Baby Infant Formula Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Abbott
     12.4.2. Arla Foods Amba
     12.4.3. Campbell Soups
     12.4.4. Dana Dairy Group Lt
     12.4.5. Danone
     12.4.6. D-Signstore
     12.4.7. HiPP GmbH & Co. Vertrieb KG
     12.4.8. Reckitt Benckiser (Mead J

Methodology

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