Baby Infant Formula Market By Type (Infant milk, Follow on milk, Specialty baby milk, Growing-up milk), By Ingredient (Carbohydrate, Fat, Protein, Minerals, Vitamins, Others), By Distribution Channel (Online, Offline): Global Opportunity Analysis and Indu

Baby Infant Formula Market By Type (Infant milk, Follow on milk, Specialty baby milk, Growing-up milk), By Ingredient (Carbohydrate, Fat, Protein, Minerals, Vitamins, Others), By Distribution Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2022-2031

The global baby infant formula market was valued at $25.5 billion in 2021, and is projected to reach $56.6 billion by 2031, growing at a CAGR of 8.1% from 2022 to 2031.Baby infant formula comprises infant milk, follow-on-milk, specialty baby milk, and growing-up milk designed for the infants’ and toddlers’ consumption. Infant milk contains the necessary nutrients, minerals, and vitamins for normal development of the baby. Physicians recommend infant formula as an alternative to breastmilk, as it can be fed anywhere and at any time, which makes it convenient for working mothers. Many working mothers return to their jobs shortly after giving birth. Thus, infant formula can be fed at convenience and provides a healthy and nutritious alternative.

The baby infant formula market is projected to be fueled by increase in consumer shift toward clean-label and plant-based products. The baby infant formula market is flourishing globally, with promising prospects for rapid expansion in the industry amid a frenzy of innovation including essential substances such as probiotics and human milk oligosaccharides. The expansion of organic and clean-labeled newborn nutrition products is anticipated to be supported by the increased consumer trend away from chemical components and toward all-natural & plant-based ingredients.

The Asia-Pacific baby infant formula market had a major share in 2021 and is projected to grow significantly during the forecast period, owing to the living standards in China, India, South Korea, and other countries. Rise in disposable income has led to higher spending on infant nutrition. Rapid increase in female participation in labor force in India, coupled with high infant population, is anticipated to provide opportunities to the infant formula manufacturers, thereby boosting the market growth.

Moreover, in the present scenario, consumers have become more health conscious and prefer minimally processed foods and natural drinks for their babies. Parents are on a constant look out for foods that are healthy for consumption by their children. Thus, baby infant formula free from ingredients such as added sugar, sodium, and preservatives is expected to present new opportunities for manufacturers.

In addition, infant formula serves as an ideal substitute for mother’s milk; however, it lacks antibodies and the complexity of nutrients found in mother’s milk. Moreover, it is less digestible as compared to breast milk and might contain allergens. Thus, development in technology of infant milk production results in the emergence of new products with high density of nutrition that match the nutrient complexity of breast milk, which is expected to provide lucrative opportunities for the growth of the global market.

However, according to the World Bank, more than 80% of the global population resides in the developing countries, while global birth rates have steadily decreased across all regions and economic levels have remained highest over the past 55 years in developing countries. According to the World Bank, in 2021, the global birth rate was 17.873 per 1,000 people, a 1.13% decline from 2020. This decline in the global birth rate is expected to result in sluggish market growth.  

The baby infant formula market is segmented on the basis of type, ingredient, distribution channel, and region. By type, the market is classified into infant milk, follow on milk, specialty baby milk, and growing up milk. By ingredient, the market is divided into carbohydrate, fat, protein, minerals, and vitamins. By distribution channel, the market is categorized into online and offline. The offline segment is further segregated into hypermarkets & supermarkets, pharmacy/medical store, specialty stores, and hard discounter store. Region wise, it is analyzed across North America (U.S., Canada, Mexico), Europe (UK, Germany, France, Italy, Spain, Turkey, Russia, and rest of Europe), Asia-Pacific (China, India, South Korea, Japan, Philippines, Indonesia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, UAE, and rest of LAMEA). 

The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have been also focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the baby infant formula market include Abbott Laboratories, Arla Foods amba, Campbell Soups, Dana Dairy Group Ltd, Danone, D-Signstore, HiPP GmbH & Co. Vertrieb KG, Reckitt Benckiser (Mead Johnson & Company LLC), The Hain Celestial Group, Inc., The Kraft Heinz Company, Reckitt Benckiser Group plc, Royal FrieslandCampina N.V., bellamy's organic, Nestle S.A., and yili group.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the baby infant formula market analysis from 2021 to 2031 to identify the prevailing baby infant formula market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the baby infant formula market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global baby infant formula market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Distribution Channel

Online
Offline
Offline Sub type
Hypermarkets and Supermarkets
Pharmacy/Medical Store
Specialty Stores
Hard Discounter Store

By Type

Infant milk
Follow on milk
Specialty baby milk
Growing-up milk

By Ingredient

Carbohydrate
Fat
Protein
Minerals
Vitamins
Others

By Region

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Turkey
Russia
Rest of Europe
Asia-Pacific
China
India
South Korea
Japan
Philippines
Indonesia
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
South Africa
Saudi Arabia
UAE
Rest of LAMEA
Key Market Players
Abbott Laboratories
Royal FrieslandCampina N.V.
Campbell Soup Company
The Hain Celestial Group, Inc.
Dana Dairy Group
Reckitt Benckiser Group PLC
Arla Foods amba
Nestle S.A.
Danone S.A.
The Kraft Heinz Company

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