GCC Baby Formula Market Report and Forecast 2024-2032

GCC Baby Formula Market Size

The GCC baby formula market reached a value of about USD 2.32 billion in 2023. The market is further expected to grow at a CAGR of 6.9% in the forecast period of 2024-2032 to reach a value of approximately USD 4.21 billion by 2032.

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Saudi Arabia to Grow at the Fastest Pace During the Forecast Period Fuelled by the Rapidly Expanding Retail Sector

Saudi Arabia is expected to dominate the GCC baby formula industry in the Middle East and Africa, owing to the rapidly developing retail sector and the growing western influence. In addition, the demand for baby formula is expected to grow in the region, owing to the growing awareness among the new parents regarding the health benefits of baby food in the overall development of the baby. Moreover, the growing penetration of leading market players in the region are expected to support the market growth. For instance, in 2018, Nestlé, a leading manufacturer of baby formula, announced its agreement to buy Pfizer’s infant nutrition business for USD 11.8 billion, in an endeavour to expand its distribution channel in the Middle East and Africa region.

Baby Formula Industry Segmentation

Infant formula or baby formula refers to the formulation especially developed to feed infants. It is often used and recommended as a substitute for breast milk. The U.S. Federal Food, Drug, and Cosmetic Act (FFDCA) defines infant formula as a food which can be utilised as a special dietary product solely for infants by reason of its simulation of human milk or its suitability as a complete or partial alternative for human milk.

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The baby formula industry, based on type, can be segregated into:

• First Infant Formula
• Follow-on Formula
• Growing-up Formula
• Speciality Baby Formula

Based on ingredient, the market is classified into:

• Oils and Fats
• Proteins
• Carbohydrates
• Prebiotics
• Vitamins and Minerals
• Others

On the basis of distribution channel, the market is categorised into:

• Supermarket and Hypermarket
• Pharmacy/Medical Stores
• Speciality Market
• Online
• Others

The EMR report looks into the regional markets of baby formula like Saudi Arabia, the United Arab Emirates, Kuwait, Oman, Qatar, and Bahrain.

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Growing Awareness about Infant Nutrition and the Booming Economy of Middle East to Propel the Baby Formula Industry Growth

The rapid economic growth and an increase in the number of working women in the region have contributed to the popularity of baby formula. Further, the market has picked up significant pace owing to the rising awareness among the new parents pertaining to the availability of baby formula as a substitute to breast milk, which can be attributed to its nutritional values and convenience. Moreover, the growing availability of baby formula across retail stores and e-commerce channels is further projected to support the market growth in the forecast years. Additionally, the increased availability of organic and minimally processed baby formula is also projected to support the market growth in the forecast period. However, high per unit cost and volatility in prices of raw materials might hamper the growth of the market.

Key Industry Players in the GCC Baby Formula Market

The report presents a detailed analysis of the following key players in the GCC baby formula market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Nestlé SA
• Danone S.A
• Abbott Laboratories
• Laboratorios Ordesa, S.L
• Arla Foods amba
• Almarai company
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report