The Infant Formula Market by Component and Geography will be Foretasted and Analysis 2023 to 2033

In 2023, the infant formula market is anticipated to reach US$ 49.9 billion. It is anticipated to pick up speed at a strong 8.5% CAGR between 2023 and 2033. The market’s worth should soar to a massive US$ 114.1 billion in 2033 as a result.

The market is segmented based on product type, distribution channel, and region. On the basis of product type the market is segmented into starting milk formula, follow-on milk formula, toddlers milk formula, and special milk formula. Starting milk formula segment is expected to register maximum CAGR in the global infant formula market. Follow-on milk formula and toddlers milk formula segments are anticipated to collectively account for 42.2% in 2027.

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Global Infant Formula Market: Forecast Analysis

The global infant formula market is estimated to reach a valuation of more than US$ 66 Bn by end of 2027 from a valuation of about US$ 26.5 Bn in 2017, and is projected to grow at a value CAGR of 9.5% throughout the period of assessment.

Global Infant Formula Market: Dynamics Influencing Growth

Increase in premium infant nutrition products, growing demand for probiotic infant formula, increasing number of working men, higher birth rates in developing regions, growing packaging innovations in infant formula, increasing demand for organic infant formula, prevalence of online shopping sites, and increasing demand for eco-friendly packaging for infant formula products are expected to push the growth of the global infant formula market. However, use of GMOs in infant formula, pricing issues and increasing scandals in infant formula are posing hindrances to the growth of the global infant formula market.

Global Infant Formula Market: Segmental Snapshot

On the basis of distribution channel, the market is segmented into specialty outlets, supermarkets, online stores, pharmacy stores, and others. In 2016, the pharmacy stores segment accounted for highest revenue share and is expected to dominate the global market throughout the forecast period. The supermarkets segment is projected to grow at the fastest rate in the coming years.

This report assesses trends driving growth of each segment on the global level and offers potential takeaways that could prove substantially useful to infant formula manufacturers looking to enter the market. In this report, the global infant formula market has been segmented into seven major regions, namely North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA). This report assesses trends driving growth of each segment on the global level and offers potential takeaways that could prove substantially useful to infant formula manufacturers looking to enter the market. The APEJ market has been estimated to dominate the infant formula market, accounting for maximum revenue share of the market by 2017 end. Infant formula market in the APEJ region is estimated to touch a significant valuation thus dominating the global market. Collectively, APEJ and North America markets are expected to account for over 67.9% revenue share of the global infant formula market by 2017 end. Middle East & Africa is expected to exhibit significant CAGR of 10.0% over the forecast period.

By product type, starting milk formula segment is the largest with a high market value and is projected to grow at a high CAGR of 10% during the period of assessment (2017-2027).

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Global Infant Formula Market: Competitive Dashboard

Some of the key players in the global infant formula market include, Nestle S.A., Groupe Danone, Abbott Nutrition Manufacturing Inc., Mead Johnson Nutrition, The Kraft Heinz Company, Meiji Holdings Co. Ltd., Beingmate Baby & Child Food Co. Ltd., Synutra International, Inc., Pfizer Inc., FrieslandCampina, and others. In this report, we have discussed individual strategies followed by these companies in terms of enhancing their product portfolio, creating new marketing techniques, product offerings, mergers and acquisitions. The ‘Competitive Landscape’ is included to provide report audiences with a dashboard view and company share collectively that can support the readers to gain competitive advantage in the global infant formula market. Infant Formula Market by Category

By Product Type:

  • Starting Milk Formula
  • Follow-on Milk Formula
  • Toddlers Milk Formula
  • Special Milk Formula

By Distribution Channel:

  • Specialty Outlets
  • Supermarkets
  • Online Stores
  • Pharmacy Stores
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan
  • Japan
  • Middle East & Africa (MEA)

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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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