Baby Food and Infant Formula Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Baby Food and Infant Formula Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global baby food and infant formula market size reached US$ 48.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 67.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.52% during 2023-2028.

Baby food refers to a soft mash of fruits, vegetables and cereals, which is prepared for children between the age of four months to two years. On the other hand, infant formula is manufactured and targeted for babies that are under the age of 12 months. It is considered to be an ideal substitute for breast-milk, owing to the presence of essential nutrients that play a vital role in the infants’ growth. As babies lack developed muscles and teeth for chewing adequately, baby food and infant formula act as the primary source of nutrients for them. Over the years, parents have shifted to packaged foods owing to the convenience and better nutrition offered by these products.

Parents nowadays are becoming more aware of the impact of right nutrition on the child’s overall growth and development. As a result, they are shifting toward baby food and infant formula products that are rich in proteins, vitamins, minerals and carbohydrates. These products are mostly available in the powdered form, which can be mixed with water or milk. Apart from this, due to the increasing consciousness among consumers, manufacturers are introducing organic, premium and minimally-processed baby food and infant formula variants to increase their sales. Furthermore, the burgeoning e-commerce sector is also boosting the sales of these products since it enhances the consumers’ convenience as compared to the conventional retail formats.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global baby food and infant formula market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type and distribution channel.

Breakup by Type:

Milk Formula
Dried Baby Food
Prepared Baby Food
Other Baby Food

Milk formula, also known as infant formula, represents the most preferred product type.

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Pharmacies
Convenience Stores
Others

Supermarkets and hypermarkets account for majority of the total global market.

Regional Insights:

Asia Pacific
North America
Europe
Latin America
Middle East and Africa

Asia Pacific currently represents the largest market, owing to a large population in the region.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are:

Abbott Nutrition
Nestlé S.A.
Danone S.A.
Mead Johnson & Company, LLC
Kraft Heinz Company

Key Questions Answered in This Report

1. What is the expected growth rate of the global baby food and infant formula market during 2023-2028?
2. What are the key factors driving the global baby food and infant formula market?
3. What has been the impact of COVID-19 on the global baby food and infant formula market?
4. What is the breakup of the global baby food and infant formula market based on the type?
5. What is the breakup of the global baby food and infant formula market based on the distribution channel?
6. What are the key regions in the global baby food and infant formula market?
7. Who are the key companies/players in the global baby food and infant formula market?