Infant Nutrition Market Size, Share & Trends Analysis Report By Product Type (Infant Milk Formula, Baby Food), By Form (Solid, Liquid), By Sales Channel, By Region, And Segment Forecasts, 2024 - 2030

Infant Nutrition Market Size, Share & Trends Analysis Report By Product Type (Infant Milk Formula, Baby Food), By Form (Solid, Liquid), By Sales Channel, By Region, And Segment Forecasts, 2024 - 2030

Infant Nutrition Market Growth & Trends

The global infant nutrition market size is expected to reach USD 611.1 million by 2030 and is projected to grow at a CAGR of 7.7% from 2024 to 2030, according to a new study by Grand View Research, Inc. The market's expansion is driven by factors such as a rising number of working mothers, increased spending on infant health, and a growing demand for organic baby food. The number of young working mothers has notably increased in recent years, significantly impacting the infant nutrition industry. According to March 2023 Office for National Statistics (ONS) UK labor report, 15.66 million women aged 16 and older were employed from October to December 2022, indicating a rise of 108,000 compared to the previous year. The percentage of women employed fell to 72.3% in February 2020 from a record high of 72.7% in December 2019.

The COVID-19 pandemic has had a significant impact on the infant nutrition industry, with lockdown measures affecting the lives of new and expectant mothers. The global food and beverage sector, including the baby formula market, experienced notable challenges. The market faced disruptions, impacting sales, and market participants invested heavily to ensure children's access to essential nutrients. The growing focus on health and wellness extends to infant nutrition, with parents seeking products promoting overall health, brain development, and immune system support. There are potential opportunities from the expanding middle-class population in emerging nations and the demand for solutions catering to the schedules of working mothers.

Despite challenges, such as stringent regulations and low fertility rates in some countries, market growth is driven by factors like the US FDA's increasing approval rate and major competitors' introduction of innovative products. For instance, Danone introduced the Dairy and Plants Blend baby formula in July 2022, providing flexitarian options, while Bunge Loders Croklaan launched a novel lipid ingredient for baby formula in January 2021.

Infant Nutrition Market Report Highlights

• Based on product type, the market is segmented into infant milk formula, baby food, follow-on milk, and others. The infant milk formula segment held the largest revenue share of 38.9% in 2023, while the baby food segment is anticipated to witness significant growth, driven by the introduction of innovative solutions
• Based on form, the market is categorized into solid and liquid segments. The solid form segment dominated in 2023, whereas the liquid form segment is projected to show substantial growth throughout the forecast period
• In terms of sales channel, the hypermarkets/supermarkets segment played a pivotal role, dominating the sales channel in 2023. On the other hand, online channels segment is anticipated to exhibit the fastest CAGR, driven by factors like a diverse product range and convenience
• In 2023, North America held the largest revenue share, while Asia Pacific is anticipated to witness the fastest CAGR, attributed to the increasing adoption of infant nutrition products due to a rising birth rate

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