Infant Formula Market: Global Size, Share, Trends, Growth and Forecast, 2022-2032
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- Status : Published
- Published on: July 2022
- Report ID: KDMI-211
- Available Format: PDF/Excel/DOC
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Infant Formula Market Overview
The infant formula market refers to the market for food products that are specially formulated and marketed for babies and young children who are not breastfeeding or who require supplemental feeding. Infant formula is typically made from cow's milk, soy protein, or other sources of protein, and is fortified with vitamins and minerals to provide the necessary nutrition for the baby's growth and development.
The global infant formula market has experienced steady growth over the years, driven by factors such as rising birth rates, increasing working mothers, and the convenience and nutrition provided by infant formula. The market is also influenced by changing consumer preferences, including a growing demand for organic and natural products.
Geographically, the Asia-Pacific region is the largest and fastest-growing market for infant formula, driven by the growing middle class, rising disposable incomes, and increasing awareness about the benefits of infant formula. China, in particular, is a major market for infant formula due to its large population and one-child policy.
In recent years, the infant formula market has faced some challenges, such as concerns about product safety, regulatory issues, and negative publicity surrounding certain products. However, manufacturers have responded by investing in research and development, improving product quality, and expanding their product lines to meet changing consumer needs.
Overall, the infant formula market is expected to continue to grow in the coming years, driven by factors such as increasing urbanization, rising disposable incomes, and growing awareness about the importance of early childhood nutrition.
Infant formulas are used to fulfill all the nutritional needs of a baby during the first 4 to 6 months of life. There are different formulas available for infants younger than 12 months old including milk-based formulas, soy-based formulas, and other special formulas. Infant formulas are given to an infant in conditions where the baby is not breastfeeding due to some reasons such as the baby is sucking inefficiently, inadequate supply of maternal breast milk, and others.
Market Drivers & Restraints
The proportion of mothers in employment has risen to a record level, as women are increasingly choosing to return to work after having children. However, employed parents are trying every possible method to ensure their child’s safety and health. Formula-feeding offers a practical alternative for mothers who are not able to breastfeed their babies due to work schedules. Infant formulas are witnessing notable demand from the employed parents as these formulas are aiding these parents in keeping their newborn safe and healthy.
Region-wise, North America grabbed lion shares in the market as the working women employment ratio is significantly high in this region. More than half the infant formula used in the United States is provided to mothers at no cost through the federal government's Special Supplemental Nutrition Program for Women, Infants, and Children, commonly known as WIC. Owing to such governmental support and high awareness level, North America is poised to remain the strongest market of infant formula in the coming years. Even in ROW, the women participation in the labor force has increased and has also backed the growth of infant nutrition market.
Some babies are born with several health issues, which make it necessary for them to consume formulas. For example, some infants do not have enough natural reserves of iron, some are very weak and are unable to breastfeed, some babies are born premature, these situations make their parents opt for formulas in order to fulfill their nutritional requirements. There are many types of infant formulas are available in the market in different forms such as powder, liquid, and ready-to-use, for various nutritional requirements. However, declining birth rate and strict regulations associated with gaining approval for manufacturing of infant formula and food are major barriers in the growth of the infant formula market.
The research offers a comprehensive analysis of infant formula market with respect to following sub-markets:
By Product Type
- Infant Milk Formula
- Growing-up Milk Formula
- Follow-on Milk Formula
- Specialty Baby Milk Formula
- Concentrated Liquids
By Distribution Channel
- Specialty outlets
- Online stores
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as:
- Nestle, Pfizer Inc.
- The Honest Company, Inc.
- Groupe Danone
- Abbott Laboratories
- Hain Celestial Group, Inc.
- Nature’s One, Inc.
- Vermont Organics Infant Formula
- Dutch Lady
- Other Major & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development expansion and other market activities.
The study also provides company’s positioning and market share in infant formula market.
Timeline Considered for Analysis:
- 2021: Base Year
- 2022: Estimated Year
- 2022 to 2027: Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global infant formula market by the following segments:
- Product Type
- Distribution Channel
Geographic Market Analysis:
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Infant Formula Industry Report:
- What is the overall market size in 2021? What will be the market growth during the forecast period i.e. 2022-2027?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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