Global Baby Food and Infant Formula Market Report and Forecast 2023-2028

Global Baby Food and Infant Formula Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global baby food and infant formula market reached a value of USD 63.03 billion in 2022. Aided by the growing recognition of tailored nutrition for infants and a robust inclination towards convenience-oriented parenting, the market is projected to further grow at a CAGR of 5.80% between 2023 and 2028 to reach a value of USD 88.65 billion by 2028.

Baby food and infant formula, essential components of modern childcare, are specifically crafted products that cater to the nutritional requisites of infants and toddlers. These products are designed to serve as supplementary or alternative nourishment sources, filling any potential dietary gaps and ensuring robust growth and development during the pivotal early years of life. Ranging from milk-based formulations to pureed foods, they are the cornerstone of ensuring balanced nutrition for many infants globally.

Central to the upswing in the baby food and infant formula market growth is the paradigm shift in parenting methodologies and increasing consumer confidence in commercial dietary solutions for infants. This confidence stems from rigorous quality controls, research-backed nutritional formulations, and transparent ingredient sourcing processes maintained by industry players. As parents, especially those in urban locales, grapple with time constraints and seek efficient solutions, these products emerge as trusted allies.

Furthermore, advancing maternal workforce participation rates globally have pivoted infant formula and prepared baby foods from luxury to necessity. Many working mothers, despite understanding the unparalleled benefits of breastfeeding, might face challenges in exclusively nursing their infants due to professional commitments. In such instances, premium infant formulas, positioned as proximate to breast milk composition, find heightened acceptance.

Adding momentum to the baby food and infant formula market expansion is the burgeoning awareness of infant nutritional needs and the significance of fostering a diversified palate from an early age. Today's parents are well-informed, often consulting paediatric nutritionists, to ascertain the best dietary path for their children. Armed with this knowledge, they are increasingly reaching out for fortified cereals, vegetable and fruit purees, and protein-rich preparations to ensure their child’s comprehensive growth.

On the technological front, innovations in food processing and preservation methodologies have paved the way for a wider spectrum of baby food products, many with extended shelf lives and enhanced nutrient retention. From freeze-drying techniques to cold-pressed methods, modern baby foods strive to offer the freshest flavours and utmost nutritional value.

Moreover, the baby food and infant formula market demand are likely to be influenced by the surging demand for organic and natural baby food solutions. Eco-conscious and health-centric parenting ideologies are rapidly gaining traction, leading to an amplified demand for products free from synthetic additives, pesticides, and genetically modified ingredients. This organic wave is not merely a fleeting trend but a testament to the deeper global shift towards sustainable and health-conscious consumption patterns.

Market Segmentation

The market can be divided based on type, distribution channel, and region.

Market Breakup by Type

• Milk Formula
• Dried Baby Food
• Prepared Baby Food
• Others

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Pharmacies
• Convenience Stores
• Others

Market Breakup by Region

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

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global baby food and infant formula market. Some of the major players explored in the report by Expert Market Research are as follows:

• Abbott Nutrition
• Nestlé S.A.
• Danone S.A.
• Mead Johnson & Company, LLC
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.