Infant formula refers to manufactured food, typically designed to be similar to that of human mother’s milk. These products are designed for babies of upto three years of age. The formula is available in powder, concentrated liquid or ready-to-feed forms. This makes infant formula convenient and easy to feed for both mother as well as baby. Infant formula can be used in various cases including inability of baby to breastfeed, mother’s health, undernourished baby and also personal preferences. Steadily rising birth rate across the world is one of the most significant factors driving the infant formula market growth. Rising female workforce worldwide is another major factor governing the market growth. Parents now seek for trustworthy products that are convenient for use as well as nutritious.

Due to increasing demand for brand-named and convenient baby care products, the infant formula market is estimated to register strong growth in the coming years. Another significant factor fueling the overall market growth is the ongoing advancement across infant formula products. Manufacturers are now inclined towards offering organic products that ensure optimum nutrition and no damage to infant health. However, stringent regulations and disagreement on infant formula over breastfeeding is a major challenge for the market. Various global health organizations recommend breastfeeding over these products at least for the first six months. Infant formula is suggested only in instances wherein breastfeeding is not possible for baby/mother.

The report titled “Global Infant Formula Market- Growth, Share, Opportunities and Competitive Analysis, 2016 – 2023” offers strategic insights into the global infant formula market along with the market size and estimates for the duration 2014 to 2023. The said research study covers in-depth analysis of multiple market segments based on product types and cross-sectional study across different geographies and sub-geographical regions. The study covers the comparative analysis of different segments for the years 2015 & 2023. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities.

In order to help strategic decision makers, the report also includes competitive profiling of the leading infant formula product vendors, their SCOT (Strength, Challenges, Opportunities and Weaknesses) analysis, market positioning and key developments. Some of the major players profiled in the report are Nestle SA, Kraft Heinz Company, Danone SA, Hero Group, Bristol-Myers Squibb Company, Perrigo Company Plc. and Mead Johnson & Company, LLC among others. Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive markets within the baby care products industry
• Market fuelers, market impediments, and their impact on the market growth
• In-depth competitive environment analysis
• Trailing 2-Year market size data (2014 – 2015)
• SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global infant formula market, offering market size and estimates for the period from 2016 to 2023, keeping in mind the above mentioned factors.

The global infant formula market is dominated by the cow milk protein-based infant formula. The segment contributed to more than forty percent of the total revenue generated worldwide, as of 2015. Cow milk protein-based infant formula is among the oldest types and hence highly popular worldwide. Other formula products such as soy-based and hypoallergenic formula are used only cases where babies are unable to consume cow milk-based formula or it is against religious beliefs. Thus, the prominence of cow milk protein-based formula is estimated to remain high throughout the forecast period.

Due to high nutritional value and acceptance of cow milk infant formula, the segment growth is estimated to remain strong throughout the forecast period. Apart from cow milk infant formula, hypoallergenic and specialized infant formula segments are projected to register remarkable growth in the market during the forecast period. Soy-based infant formula segment is predicted to register steady growth.

North America and Europe collectively contribute to the largest share, in terms of revenue and adoption, of the global infant formula market. Infant formula has witnessed strong adoption in North America and specifically Western Europe countries. Presence of major companies such as Nestle SA, H. J. Heinz Company, Danone SA and others in the regions is another major factor responsible for robust market growth here.

The Asia Pacific is estimated to witness the highest growth in the overall infant formula market during the forecast period. With the rising discretionary income, female workforce and awareness regarding healthcare, people here are increasingly shifting towards brand-named baby care products. In China, birth rate is projected to rise significantly in the coming years. This may portray China as a potential market for infant formula in the coming years.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Infant Formula market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Infant Formula market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Infant Formula market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Infant Formula market?
• Which is the largest regional market for Infant Formula market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Infant Formula market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Infant Formula market worldwide?