Infant Formula Market Size, By Product (Standard, Follow-on, Toddler, Specialty), By Distribution Channel (Hypermarket, Supermarket, Convenience Stores, Online), Industry Analysis Report, Regional Outlook, End-user Development Potential, Price Trends, Com

Infant Formula Market Size, By Product (Standard, Follow-on, Toddler, Specialty), By Distribution Channel (Hypermarket, Supermarket, Convenience Stores, Online), Industry Analysis Report, Regional Outlook, End-user Development Potential, Price Trends, Competitive Market Share & Forecast, 2023 - 2032

The global infant formula market is slated to expand exponentially through 2032 owing to the burgeoning infant population. In addition, the high rate of employed women across the world is expected to foster market growth.

The increasing availability and rise in internet technology, innovations in financial transactions, as well as easy availability of information via online sources, are all pushing the worldwide e-commerce business, thus influencing the market outlook.

Several market conglomerates are relentlessly working toward developing new products and engaging in strategic initiatives such as mergers and acquisitions to score an edge over competitors. For instance, in October 2020, Nutricia acquired The Real Food Blends, LLC Company. The food processing business Real Food Blends creates and markets wholesome food meals for families and tube-fed individuals. This move will aid the company to attract new clients and generate more money.

The infant formula industry has been divided in terms of product, distribution channels, and region.

Based on product, the follow-on segment is expected to expand positively over the review timeline. For infants between the ages of 6 and 12 months, the follow-on formula is created to assist make up for the lack of iron availability, which is likely to proliferate the industry outlook.

On the other hand, the toddler segment is anticipated to attain more than $45 billion by 2032. Due to its high nutritional value, which will aid in newborns' full development, the segment is set to develop significantly over the forecast years.

With respect to distribution channels, the hypermarkets segment is poised to garner strong growth through the forthcoming timeframe. The distinctive mix of hypermarkets in the format of departmental stores is one of the primary aspects which is expected to foster segmental growth.

Meanwhile, the convenience store segment is set to witness high gains by the end of the research years credited to the availability of more convenience stores in any given neighborhood which makes it easier to fulfill the demand for infant formula easily.

From the regional perspective, the Europe infant formula market is estimated to amass more than $35 billion by 2032 given the burgeoning demand for infant formula products in the region on account of their nutritional value and environmentally friendly qualities.

Meanwhile, the Latin America infant formula industry is speculated to propel steadily over the forthcoming years. The LATAM region is seeing stable political and economic conditions, which is supporting the region's growing middle-class sector.