Global Infant Formula Market Size, Share, Trends & Analysis by Formula Type (Cow’s Milk Protein-Based, Soy-Based, Protein Hydrolysate), by Form (Powdered, Concentrated Liquid, Ready-to-Use), by Distribution Channel (Offline, Online) and Region, with Forecasts from 2024 to 2034.

  • Published: July, 2024
  • Pages: 159
  • Format:
  • Report ID: 16549656
  • Industry: Food & Beverages

Market Overview

 

The Global Infant Formula Market is projected to experience substantial growth over the next decade, driven by factors such as rising birth rates in emerging economies, increasing awareness of infant nutrition, and the growing number of working mothers. The market is expected to reach USD XX.XX billion by 2034, expanding at a CAGR of XX.XX% from a valuation of USD XXX.XX billion in 2024. Key drivers contributing to this growth include:

 

• Rising Birth Rates and Urbanization: Emerging economies are witnessing an increase in birth rates alongside rapid urbanization. As more families move to urban areas, the demand for convenient and nutritious infant feeding solutions grows, driving the market for infant formula.

 

• Increasing Awareness of Infant Nutrition: There is a growing awareness among parents about the importance of balanced nutrition for infants. Infant formula provides essential nutrients required for the healthy growth and development of babies, making it a preferred choice for many parents, particularly when breastfeeding is not an option.

 

• Growing Number of Working Mothers: The increasing participation of women in the workforce has led to a higher demand for infant formula. Working mothers often rely on infant formula as a convenient and reliable alternative to breastfeeding, ensuring their babies receive proper nutrition even in their absence.

 

• Technological Advancements in Infant Formula Production: Continuous advancements in the production and formulation of infant formula are enhancing the nutritional content and safety of these products. Innovations in ingredients, processing techniques, and packaging are contributing to the development of more advanced and effective infant formula products.

 

Definition and Scope of Infant Formula

 

Infant formula is a manufactured food designed and marketed for feeding to babies and infants under 12 months of age, typically prepared for bottle-feeding or cup-feeding from powder (mixed with water) or liquid (with or without additional water). The primary purpose of infant formula is to provide an alternative to breast milk, supplying essential nutrients necessary for the growth and development of infants.

 

Market Drivers

 

• Rising Demand for Organic Infant Formula: The growing preference for organic and natural products is extending to infant formula, with parents seeking high-quality, chemical-free options for their babies. Organic infant formula, made from organic ingredients and free from synthetic additives, is gaining popularity, contributing to market growth.

 

• Health Benefits and Nutritional Value: Infant formula is designed to mimic breast milk as closely as possible, providing essential nutrients, vitamins, and minerals that support infant growth and development. The health benefits and high nutritional value of infant formula are driving its demand among parents.

 

• Convenience and Longer Shelf Life: Infant formula offers convenience to parents, especially working mothers, due to its easy preparation and long shelf life. This convenience factor, coupled with the ability to store formula for extended periods, makes it an attractive option for many families.

 

Market Restraints

 

• Breastfeeding Advocacy: Despite the growth of the infant formula market, there is a strong advocacy for breastfeeding due to its numerous health benefits for both the baby and the mother. Organizations such as the World Health Organization (WHO) and the American Academy of Pediatrics (AAP) recommend exclusive breastfeeding for the first six months of life, which can pose a challenge to the infant formula market.

 

• Regulatory Challenges: The infant formula industry is highly regulated to ensure the safety and nutritional adequacy of products. Complying with stringent regulatory standards and obtaining necessary approvals can be time-consuming and costly, posing a challenge for market players.

 

• High Cost of Infant Formula: The cost of infant formula can be prohibitive for some families, especially in low-income regions. The high price of formula, particularly specialty formulas such as organic or hypoallergenic variants, can limit its adoption among certain demographic groups.

 

Opportunities

 

• Expansion in Emerging Markets: Emerging markets such as Asia-Pacific, Latin America, and Africa present significant growth opportunities for the infant formula market. Increasing disposable incomes, rising birth rates, and improving healthcare infrastructure in these regions are driving demand for infant formula products.

 

• Innovations in Product Formulation: The development of new and improved infant formula products, such as formulas fortified with probiotics, prebiotics, and other functional ingredients, offers growth opportunities. These innovations cater to the evolving needs of parents seeking enhanced nutritional benefits for their infants.

 

• E-commerce and Online Retailing: The rise of e-commerce and online retailing provides a lucrative platform for the distribution of infant formula products. The convenience of online shopping, coupled with the availability of a wide range of products, is driving sales through online channels.

 

• Collaborations and Partnerships: Collaborations between infant formula manufacturers, healthcare providers, and research institutions can facilitate the development of advanced products and expand market reach. Partnerships with healthcare professionals can also help in educating parents about the benefits of infant formula, driving its adoption.

 

Market Segmentation Analysis

 

• By Formula Type

    ○ Cow’s Milk Protein-Based

    ○ Soy-Based

    ○ Protein Hydrolysate

 

• By Form

    ○ Powdered

    ○ Concentrated Liquid

    ○ Ready-to-Use

 

• By Distribution Channel

    ○ Offline

    ○ Online

 

Regional Analysis

 

• North America: North America represents a mature market for infant formula, driven by high birth rates, strong healthcare infrastructure, and a high level of awareness regarding infant nutrition. The United States and Canada are key markets in this region, with a significant demand for organic and specialty formulas.

 

• Europe: Europe is characterized by stringent regulatory standards and a high demand for organic infant formula. Countries such as Germany, France, and the United Kingdom are key markets, with a focus on high-quality, nutritionally balanced products.

 

• Asia-Pacific: The Asia-Pacific region is anticipated to experience the highest growth, driven by increasing birth rates, rising disposable incomes, and growing urbanization. Countries such as China, India, and Japan are key markets, with a significant demand for both standard and specialty infant formulas.

 

• Rest of the World: Regions such as Latin America, the Middle East, and Africa present significant growth potential, driven by improving healthcare infrastructure, rising birth rates, and increasing awareness of infant nutrition. Countries in these regions are witnessing a growing demand for affordable and high-quality infant formula products.

 

Competitive Landscape

 

The Global Infant Formula Market is characterized by the presence of several prominent players, including:

 

Nestlé S.A.

Danone S.A.

Abbott Laboratories

Mead Johnson Nutrition Company (Reckitt Benckiser Group)

The Kraft Heinz Company

FrieslandCampina

Hain Celestial Group

Arla Foods Amba

Perrigo Company plc

Bellamy's Organic

Table of Contents:

 

1. Introduction

    1.1. Definition of Infant Formula

    1.2. Scope of the Report

    1.3. Research Methodology

 

2. Executive Summary

    2.1. Key Findings

    2.2. Market Snapshot

    2.3. Key Trends

 

3. Market Dynamics

    3.1. Market Drivers

        3.1.1. Rising Birth Rates in Developing Regions

        3.1.2. Increasing Awareness of Infant Nutrition

        3.1.3. Growing Number of Working Mothers

        3.1.4. Other Market Drivers

    3.2. Market Restraints

        3.2.1. High Cost of Premium Products

        3.2.2. Stringent Regulatory Standards

        3.2.3. Competition from Breastfeeding Advocacy

        3.2.4. Other Market Restraints

    3.3. Market Opportunities

        3.3.1. Emerging Markets in Developing Regions

        3.3.2. Innovation in Product Formulation

        3.3.3. Increasing Online Sales Channels

        3.3.4. Other Market Opportunities

 

4. Global Infant Formula Market Analysis

    4.1. Market Size and Forecast (2024-2034)

    4.2. Market Share Analysis by:

        4.2.1. Formula Type

            4.2.1.1. Cow’s Milk Protein-Based

            4.2.1.2. Soy-Based

            4.2.1.3. Protein Hydrolysate

            4.2.1.4. Others

        4.2.2. Form

            4.2.2.1. Powdered

            4.2.2.2. Concentrated Liquid

            4.2.2.3. Ready-to-Use

            4.2.2.4. Others

        4.2.3. Distribution Channel

            4.2.3.1. Offline

            4.2.3.2. Online

    4.3. Value Chain Analysis

    4.4. SWOT Analysis

    4.5. Porter's Five Forces Analysis

 

5. Regional Market Analysis

    5.1. North America

        5.1.1. Market Overview

        5.1.2. Market Size and Forecast

        5.1.3. Key Trends

        5.1.4. Competitive Landscape

    5.2. Europe

        5.2.1. Market Overview

        5.2.2. Market Size and Forecast

        5.2.3. Key Trends

        5.2.4. Competitive Landscape

    5.3. Asia Pacific

        5.3.1. Market Overview

        5.3.2. Market Size and Forecast

        5.3.3. Key Trends

        5.3.4. Competitive Landscape

    5.4. Latin America

        5.4.1. Market Overview

        5.4.2. Market Size and Forecast

        5.4.3. Key Trends

        5.4.4. Competitive Landscape

    5.5. Middle East & Africa

        5.5.1. Market Overview

        5.5.2. Market Size and Forecast

        5.5.3. Key Trends

        5.5.4. Competitive Landscape

 

6. Competitive Landscape

    6.1. Market Share Analysis of Key Players

    6.2. Company Profiles of Key Players

        6.2.1. Nestlé S.A.

        6.2.2. Danone S.A.

        6.2.3. Abbott Laboratories

        6.2.4. Mead Johnson Nutrition Company

        6.2.5. The Kraft Heinz Company

        6.2.6. Reckitt Benckiser Group plc

        6.2.7. Royal FrieslandCampina N.V.

        6.2.8. Hain Celestial Group, Inc.

        6.2.9. Bellamy's Organic

        6.2.10. Perrigo Company plc

    6.3. Recent Developments and Innovations

    6.4. Strategic Initiatives

 

7. Future Outlook and Market Forecast

    7.1. Market Growth Prospects

    7.2. Technological Trends and Innovations

    7.3. Investment Opportunities

    7.4. Strategic Recommendations

 

8. Key Insights and Reiteration of Main Findings

9. Future Prospects for the Global Infant Formula Market

 

List of Tables:

 

Table 1: Global Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 2: Global Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 3: Global Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 4: Global Infant Formula Market, By Region, 2024-2034 (USD Billion)

Table 5: North America Infant Formula Market, By Country, 2024-2034 (USD Billion)

Table 6: North America Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 7: North America Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 8: North America Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 9: United States Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 10: United States Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 11: United States Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 12: Canada Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 13: Canada Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 14: Canada Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 15: Mexico Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 16: Mexico Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 17: Mexico Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 18: Europe Infant Formula Market, By Country, 2024-2034 (USD Billion)

Table 19: Europe Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 20: Europe Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 21: Europe Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 22: Germany Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 23: Germany Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 24: Germany Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 25: U.K. Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 26: U.K. Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 27: U.K. Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 28: France Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 29: France Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 30: France Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 31: Italy Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 32: Italy Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 33: Italy Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 34: Spain Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 35: Spain Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 36: Spain Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 37: Rest of Europe Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 38: Rest of Europe Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 39: Rest of Europe Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 40: Asia-Pacific Infant Formula Market, By Country, 2024-2034 (USD Billion)

Table 41: Asia-Pacific Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 42: Asia-Pacific Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 43: Asia-Pacific Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 44: China Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 45: China Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 46: China Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 47: India Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 48: India Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 49: India Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 50: Japan Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 51: Japan Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 52: Japan Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 53: South Korea Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 54: South Korea Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 55: South Korea Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 56: Australia Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 57: Australia Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 58: Australia Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 59: Rest of Asia-Pacific Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 60: Rest of Asia-Pacific Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 61: Rest of Asia-Pacific Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 62: Middle East and Africa Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 63: Middle East and Africa Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 64: Middle East and Africa Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 65: South America Infant Formula Market, By Formula Type, 2024-2034 (USD Billion)

Table 66: South America Infant Formula Market, By Form, 2024-2034 (USD Billion)

Table 67: South America Infant Formula Market, By Distribution Channel, 2024-2034 (USD Billion)

Table 68: Global Infant Formula Market, Strategic Developments

Table 69: Global Infant Formula Market, Mergers and Acquisitions

Table 70: Global Infant Formula Market, New Product Launches

Table 71: Global Infant Formula Market, Collaborations and Partnerships

Table 72: Global Infant Formula Market, Investment Analysis

Table 73: Global Infant Formula Market, Technological Innovations

Table 74: Global Infant Formula Market, Future Trends and Opportunities

Table 75: Global Infant Formula Market, Key Insights and Recommendations

Table 76: Global Infant Formula Market, Competitive Landscape

Table 77: Global Infant Formula Market, Regional Analysis Summary

Table 78: Nestlé S.A.: Company Snapshot

Table 79: Nestlé S.A.: Operating Segments

Table 80: Nestlé S.A.: Product Portfolio

Table 81: Danone S.A.: Company Snapshot

Table 82: Danone S.A.: Operating Segments

Table 83: Danone S.A.: Product Portfolio

Table 84: Abbott Laboratories: Company Snapshot

Table 85: Abbott Laboratories: Operating Segments

Table 86: Abbott Laboratories: Product Portfolio

 

List of Figures:

 

Figure 1: Global Infant Formula Market: Market Segmentation

Figure 2: Global Infant Formula Market: Research Methodology

Figure 3: Breakdown of Primary Interviews

Figure 4: Top Down Approach

Figure 5: Bottom Up Approach

Figure 6: Data Triangulation

Figure 7: Global Infant Formula Market: Drivers, Restraints, Opportunities, and Challenges

Figure 8: Global Infant Formula Market: Porter's Five Forces Model Analysis

Figure 9: Global Infant Formula Market: Value Chain Analysis

Figure 10: Global Infant Formula Market Share Analysis, By Formula Type, 2024-2034

Figure 11: Global Infant Formula Market Share Analysis, By Form, 2024-2034

Figure 12: Global Infant Formula Market Share Analysis, By Distribution Channel, 2024-2034

Figure 13: Global Infant Formula Market Share Analysis, By Region, 2024-2034

Figure 14: North America Infant Formula Market Share Analysis, By Country, 2024-2034

Figure 15: North America Infant Formula Market Share Analysis, By Formula Type, 2024-2034

Figure 16: North America Infant Formula Market Share Analysis, By Form, 2024-2034

Figure 17: North America Infant Formula Market Share Analysis, By Distribution Channel, 2024-2034

Figure 18: Europe Infant Formula Market Share Analysis, By Country, 2024-2034

Figure 19: Europe Infant Formula Market Share Analysis, By Formula Type, 2024-2034

Figure 20: Europe Infant Formula Market Share Analysis, By Form, 2024-2034

Figure 21: Europe Infant Formula Market Share Analysis, By Distribution Channel, 2024-2034

Figure 22: Asia-Pacific Infant Formula Market Share Analysis, By Country, 2024-2034

Figure 23: Asia-Pacific Infant Formula Market Share Analysis, By Formula Type, 2024-2034

Figure 24: Asia-Pacific Infant Formula Market Share Analysis, By Form, 2024-2034

Figure 25: Asia-Pacific Infant Formula Market Share Analysis, By Distribution Channel, 2024-2034

Figure 26: Middle East and Africa Infant Formula Market Share Analysis, By Country, 2024-2034

Figure 27: Middle East and Africa Infant Formula Market Share Analysis, By Formula Type, 2024-2034

Figure 28: Middle East and Africa Infant Formula Market Share Analysis, By Form, 2024-2034

Figure 29: Middle East and Africa Infant Formula Market Share Analysis, By Distribution Channel, 2024-2034

Figure 30: South America Infant Formula Market Share Analysis, By Country, 2024-2034

Figure 31: South America Infant Formula Market Share Analysis, By Formula Type, 2024-2034

Figure 32: South America Infant Formula Market Share Analysis, By Form, 2024-2034

Figure 33: South America Infant Formula Market Share Analysis, By Distribution Channel, 2024-2034

Figure 34: Global Infant Formula Market: Competitive Benchmarking

Figure 35: Global Infant Formula Market: Vendor Share Analysis, 2024

Key Players: (this may not be a complete list and extra companies can be added upon request)

 

Nestlé S.A.

Danone S.A.

Abbott Laboratories

Mead Johnson Nutrition Company

The Kraft Heinz Company

Reckitt Benckiser Group plc

Royal FrieslandCampina N.V.

Hain Celestial Group, Inc.

Bellamy's Organic

Perrigo Company plc

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