Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Infant Formula Market Size
The global infant formula market attained a value of approximately USD 39.23 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 8.40%, reaching a value of around USD 81.08 billion by 2032.
| Global Infant Formula Market Report Summary | Market Value |
| Base Year | 2023 |
| Historical period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Market Size 2023: USD Billion | 39.23 |
| Market Size 2032: USD Billion | 81.08 |
| CAGR 2018-2023 | XX% |
| CAGR 2024-2032 | 8.4% |
| Market by Distribution Channel CAGR 2024-2032 - Online | 12.4% |
| Market by TypeCAGR 2024-2032 - Specialty Baby Milk | 9.6% |
| Market by Region CAGR 2024-2032 - Asia Pacific | 9.2% |
| Market by Country CAGR 2024-2032 -UK | 8.7% |
| Market by Country CAGR 2024-2032 -China | 9.1% |
| Market Share by Country - USA | 25.5% |
The increasing prevalence of challenges with breastfeeding and increasing awareness regarding the advantages and convenience of infant formula are driving the infant formula market growth. The increasing sale of premium packaged infant formula products for newborns, induced by the growing consciousness about the health of infants and their specific dietary requirements is further increasing the demand for infant formula. Specialised infant formulas are designed to meet the dietary requirements of infants and include the necessary vitamins and minerals crucial for infant development. These formulations are easy to digest and replicate the texture, taste, and nutritional profile of traditional breast milk, due to which they are being widely adopted by parents worldwide.
Infant Formula Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Looking for specific insights?
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 39.23 billion.
The market is projected to grow at a CAGR of 8.40% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 81.08 billion by 2032.
The major drivers of the market include the high vitamin and mineral content in ingredients, increasing prevalence of malnutrition among the kids, and rising number of working mothers.
The key market trends include the flourishing e-commerce industry, growing research and development activities by the major market players and increasing sales of immunity-boosting infant products.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Infant milk, follow-on-milk, speciality baby milk, and growing-up milk are the different types of infant formula in the market.
Carbohydrate, fat, protein, minerals, and vitamins, among others, are the significant ingredients of infant formula in the market.
Supermarkets and hypermarkets, pharmacies/medical stores, speciality stores, and online, among others, are the various distribution channels in the market for infant formula.
The biggest producers are Nestlé S.A, Danone S.A, Arla Foods amba, Royal FrieslandCampina, Reckitt Benckiser Group plc., Abbott Laboratories, The Kraft Heinz Company, Bellamy’s Australia Limited, Perrigo Company plc, and Synutra International, Inc., among others.
The Asia Pacific region will contribute notably towards the demand of infant formula market.
Purchase Full Report
Datasheet
- Selected Sections, One User
- Printing Not Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Single User License
One User
- All Sections, One User
- One Print Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Five User License
Five Users
- All Sections, Five Users
- Five Prints Allowed
- Email Delivery in PDF
- Free Limited Customisation
- Post Sales Analyst Support
50% Discount on Next Update
Corporate License
Unlimited Users
- All Sections, Unlimited Users
- Unlimited Prints Allowed
- Email Delivery in PDF + Excel
- Free Limited Customisation
- Post Sales Analyst Support
- 50% Discount on Next Update
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Strategic Solutions for Informed Decision-Making
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
- Our Insights Store:
-
Industry Statistics
-
Procurement Insights
-
Consumer Insights
Our Offices
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124