Infant Milk Formula Market
Infant Milk Formula Market Study by Starting Milk Formula, Follow-on Milk Formula, Toddler Milk Formula Sold through Specialty Stores, Supermarkets, Online Retail, and Pharmacies from 2024 to 2034
Analysis of Infant Milk Formula Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Infant Milk Formula Market Outlook (2024 to 2034)
The global infant milk formula market is projected to increase from a valuation of US$ 6.3 billion in 2024 to US$ 22.35 billion by the end of 2034, expanding at a CAGR of 13.5% over the next decade (2024 to 2034).
Milk is a primary food option for infants. Formula milk, also known as baby formula, is typically derived from cow’s milk that has been processed to be more suitable for infants.
Milk formulas play a crucial role in an infant's diet, often serving as the sole source of nutrients for some babies. Infant milk formula contains several key components: whey and casein from cow’s milk as protein sources, a blend of vegetable oils for fat, lactose for carbohydrates, a variety of vitamins and minerals, and additional ingredients depending on the manufacturer. These qualities have brought formula milk into the spotlight, with more mothers relying on these products, thereby driving infant milk formula market growth.
Manufacturers offer a diverse range of formula milk options, including first infant formula, goat’s milk formula, hungrier baby formula, anti-reflux formula, and comfort formula. This extensive variety allows mothers the flexibility to choose products that best suit their preferences and their babies' needs. More mothers are starting to opt for these formulas to ensure the intake of important nutrients by their infants, leading to a constant rise in sales of infant milk formula.
Key Market Growth Drivers
- Some mothers may not be comfortable with the idea of breastfeeding. Thus, the only alternative available is milk formula. Milk formula contains all the important nutrients required for the baby to remain healthy.
- A family member or caretaker can feed the baby in the absence of the mother, which provides a competitive edge for milk formula producers.
- Formula milk bottles come in varying capacities. This allows the mothers to feed their babies the right amount.
- In many cases, breastfeeding is avoided when a mother is suffering from HIV or tuberculosis. For such mothers, milk formula is a go-to choice.
- Infants at risk for malnutrition or birth defects may benefit from infant milk formula, as it contains the necessary components to help combat these issues.
- Mothers who cannot produce sufficient milk often turn to infant milk formula as a suitable alternative, thereby boosting the market for manufacturers.
| Report Attribute | Detail |
|---|---|
| Infant Milk Formula Market Size (2024E) | US$ 6.3 Billion |
| Forecasted Market Value (2034F) | US$ 22.35 Billion |
| Global Market Growth Rate (2024 to 2034) | 13.5% CAGR |
| Canada Market Growth Rate (2024 to 2034) | 14% CAGR |
| China Market Value (2034F) | US$ 2.45 Billion |
| North America Market Share (2024E) | 23.9% |
| East Asia Market Share (2034F) | 23.1% |
| Key Companies Profiled | Wyeth; Feihe; Danone; Frise; Mead Johnson & Company; Abbott Laboratories; Synutra International Inc.; Yili Group; Kraft Heinz Company; Meiji Holdings Co. Ltd.; FrieslandCampina N.V. |
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Which Infant Milk Formula Market Trends Should Manufacturers Capitalize On?
“Rising Consumer Preference for Products with All-Natural and Plant-Based Ingredients”
The global market for baby nutrition is flourishing, with high potential for rapid expansion due to a surge in innovation with critical components such as probiotics and human milk oligosaccharides. Similarly, there has been a recent surge in demand for clean-label, plant-based, and organic products.
Demand for organic and clean-label newborn nourishment products is projected to rise as consumers turn away from chemical components and toward all-natural and plant-based alternatives. Furthermore, vitamin D fortification in baby formula is becoming more common, as it can help balance the bacteria population in the infant's gut.
- Nestlé introduced a new newborn formula in Hong Kong in November 2023 that features a patented combination of "all-around" nutrition that promotes bone growth while also improving infants' digestive and cognitive health.
“Growing Demand for Convenient Baby Nutrition Solutions Due to Busy Lifestyles”
Various variables, such as changing consumer lifestyles, rising purchasing power, and rising number of women in the workforce, have all had a favorable influence on the industry during the last few decades. Many people living in cities are unable to accurately manage or monitor their children's dietary needs.
A busy lifestyle is a key contributing factor to individuals finding it difficult to meet their newborns’ nutrition needs, which has a negative long-term impact on the baby's health. As a result, many millennial shoppers seek easy ways to satisfy their baby's nutritional needs. The ease offered by infant milk formula appeals to parents, driving product demand and contributing to the expansion of the infant milk formula market size.
- In October 2022, Abbott Laboratories, an American nutrition food manufacturing corporation, spent US$ 500 million to build a new manufacturing plant in the United States to create baby and toddler formula.
- Danone S.A., a French multinational food-products manufacturing corporation, developed a dairy and plant mix infant formula in August 2022 to address parents' demand for vegetarian and flexitarian alternatives for their newborns. The formula provides 60% plant-based protein and 40% dairy-based protein, which combines nutrients present in both plants and breast milk.
Which Restraints are Shrinking the Profit Margins of Infant Milk Formula Suppliers?
“Safety Concerns Associated with Infant Milk Formula and Stringent Regulations”
Rigorous laws and regulations governing the launch of new items, as well as the difficult procedure of registering and getting approval for new products, are projected to impede the infant milk formula market growth during forecast period.
- Reckitt Benckiser published a press statement in February 2023 announcing the recall of 145,000 cans of Enfamil ProSobee Simply Based Infant Formula due to the risk of cross-contamination with Cronobacter sakazakii. This lethal bacteria caused the infant formula catastrophe last year.
- UNICEF and WHO reported that exclusive breastfeeding climbed by 10 percentage points in 2023, reaching 48% globally. Newborn nutrition items incorporating artificial substances, such as newborn formulae, have experienced a relative slowdown.
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Country-wise Evaluation
The market in Japan is expected to expand at a remarkable CAGR of 14% from 2024 to 2034. In addition, the country is projected to occupy a significant infant milk formula market share of 29.4% by 2034 in the East Asia region.
Why Does Infant Milk Formula Appeal to Parents in Canada?
“Convenience and Flexibility of Infant Milk Formula Driving Sales Due to Time Constraints”
| Attribute | Canada |
|---|---|
| Market Value (2024E) | US$ 505.9 Million |
| Growth Rate (2024 to 2034) | 14% CAGR |
| Projected Value (2034F) | US$ 1.87 Billion |
Canada has a comparatively high proportion of working moms. Many working women struggle to breastfeed, primarily owing to time restrictions, poor workplace support, and other concerns. This has increased the need for regular milk formula as an alternative feeding option.
Cultural norms around newborn feeding methods in the United States and Canada have shifted. Formula feeding is now widely accepted and acknowledged as a viable option for parents who are unable or unwilling to breastfeed. This shift in public attitudes has helped boost the country's market growth.
Standard milk formula is convenient and flexible for parents, allowing them to share feeding responsibilities with partners, family members, or caregivers. This flexibility is especially enticing in a country like Canada, where individualism and independence are valued.
Which Trends in South Korea Have Influenced Demand for Formula Feeding?
“Increasing Participation of Mothers in Workforce”
| Attribute | South Korea |
|---|---|
| Market Value (2024E) | US$ 313.3 Million |
| Growth Rate (2024 to 2034) | 14.3% CAGR |
| Projected Value (2034F) | US$ 1.19 Billion |
South Korea has seen major lifestyle changes in the past few years, with more women entering the workforce. This trend has boosted the need for formula feeding as an alternative to breastfeeding, as working moms may find it difficult to breastfeed exclusively. South Korea's economic development and increased disposable income have led to the expansion of its middle class. With greater purchasing power, more families may afford formula feeding as a simple and dependable choice.
Category-wise Insights
Based on distribution channel, the online retail segment is evaluated to reach a market valuation of US$ 1.41 billion in 2024, holding a market share of 22.4%.
Which Product Type is Widely Preferred by Parents and Caregivers?
“Preference for Starting Milk Formula Due to its Digestive Benefits”
| Attribute | Starting Milk Formula |
|---|---|
| Segment Value (2024E) | US$ 2.49 Billion |
| Growth Rate (2024 to 2034) | 13.3% CAGR |
| Projected Value (2034F) | US$ 8.67 Billion |
Starting milk formula, commonly known as first infant formula, is becoming widely popular as it contains whey and casein, which are thought to be easier to digest than other types of formula. This makes starting milk formulas a top choice among all the baby formulas available in the market.
What are the Advantages Offered by Specialty Stores?
“Access to Specialized Expertise and Personalized Customer Service”
| Attribute | Specialty Stores |
|---|---|
| Segment Value (2024E) | US$ 2.13 Billion |
| Growth Rate (2024 to 2034) | 13.2% CAGR |
| Projected Value (2034F) | US$ 7.35 Billion |
Specialty stores offer several advantages, including access to specialized expertise, a wide range of high-quality products, personalized customer service, and an immersive shopping experience tailored to specific interests. All these components have made specialty stores desirable to shop from among parents and caregivers, thus boosting sales of baby formula through such stores.
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Market Rivalry
The market is made up of a few well-established companies as well as several small and medium-sized businesses. Key players in the infant milk formula industry rely on two main strategies: new product development and base growth. Companies are focusing on digitization, investments, and promotional initiatives to increase their market position.
- Nestlé SA, Perrigo Company Plc, and Danone S.A. are creating new products supplemented with vitamins D, A, E, and C.
Furthermore, parents prefer to buy safe and high-quality baby items, and the new organic formula variant presents a significant development opportunity for infant formula makers. Companies are adapting themselves to the evolving infant milk formula market trends such as organic infant formula and neonatal infant care.
Fact.MR provides detailed information about the price points of key infant milk formula producers positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.
Key Segments of Infant Milk Formula Market Research
-
By Product Type :
- Starting Milk Formula
- Follow-on Milk Formula
- Toddler Milk Formula
-
By Distribution Channel :
- Specialty Stores
- Supermarkets
- Online Retail
- Chemists/Pharmacies/Drugstores
- Others
-
By Region :
- North America
- Latin America
- Eastern Europe
- Western Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
- 1. Executive Summary
- 2. Industry Introduction, including Taxonomy and Market Definition
- 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
- 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
- 5. Pricing Analysis
- 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
- 6.1. Product Type
- 6.2. Distribution Channel
- 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Product Type
- 7.1. Starting Milk Formula
- 7.2. Follow-on Milk Formula
- 7.3. Toddler Milk Formula
- 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Distribution Channel
- 8.1. Specialty Stores
- 8.2. Supermarkets
- 8.3. Online Retail
- 8.4. Chemists/Pharmacies/Drugstores
- 8.5. Others
- 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region
- 9.1. North America
- 9.2. Latin America
- 9.3. Western Europe
- 9.4. Eastern Europe
- 9.5. East Asia
- 9.6. South Asia & Pacific
- 9.7. Middle East & Africa
- 10. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
- 11. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
- 12. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
- 13. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
- 14. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
- 15. South Asia & Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
- 16. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
- 17. Sales Forecast 2024 to 2034 by Product Type, Distribution Channel, and Region for 30 Countries
- 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
- 19. Company Profile
- 19.1. Wyeth
- 19.2. Feihe
- 19.3. Danone
- 19.4. Frise
- 19.5. Mead Johnson & Company
- 19.6. Abbott Laboratories
- 19.7. Synutra International Inc.
- 19.8. Yili Group
- 19.9. Kraft Heinz Company
- 19.10. Meiji Holdings Co. Ltd.
- 19.11. FrieslandCampina N.V.
- 20. Assumptions and Acronyms Used
- 21. Research Methodology
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List Of Table
Table 01: Global Market Value (US$ Mn) Analysis, by Product Type, 2019 to 2023
Table 02: Global Market Value (US$ Mn) Analysis, by Product Type, 2024 to 2034
Table 03: Global Market Value (US$ Mn) Opportunity Analysis, by Product Type, 2024 to 2034
Table 04: Global Market Value (US$ Mn) Analysis, by Distribution Channel, 2019 to 2023
Table 05: Global Market Value (US$ Mn) Analysis, by Distribution Channel, 2024 to 2034
Table 06: Global Market Value (US$ Mn) Opportunity Analysis, by Distribution Channel, 2024 to 2034
Table 07: Global Market Value (US$ Mn) Analysis, by Region, 2019 to 2023
Table 08: Global Market Value (US$ Mn) Analysis, by Region, 2024 to 2034
Table 09: Global Market Value (US$ Mn) Opportunity Analysis, by Region, 2024 to 2034
Table 10: North America Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 11: North America Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 12: North America Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 13: North America Market Value (US$ Mn) Analysis, by Product Type, 2019 to 2023
Table 14: North America Market Value (US$ Mn) Analysis, by Product Type, 2024 to 2034
Table 15: North America Market Value (US$ Mn) Opportunity Analysis, by Product Type, 2024 to 2034
Table 16: North America Market Value (US$ Mn) Analysis, by Distribution Channel, 2019 to 2023
Table 17: North America Market Value (US$ Mn) Analysis, by Distribution Channel, 2024 to 2034
Table 18: North America Market Value (US$ Mn) Opportunity Analysis, by Distribution Channel, 2024 to 2034
Table 19: Latin America Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 20: Latin America Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 21: Latin America Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 22: Latin America Market Value (US$ Mn) Analysis, by Product Type, 2019 to 2023
Table 23: Latin America Market Value (US$ Mn) Analysis, by Product Type, 2024 to 2034
Table 24: Latin America Market Value (US$ Mn) Opportunity Analysis, by Product Type, 2024 to 2034
Table 25: Latin America Market Value (US$ Mn) Analysis, by Distribution Channel, 2019 to 2023
Table 26: Latin America Market Value (US$ Mn) Analysis, by Distribution Channel, 2024 to 2034
Table 27: Latin America Market Value (US$ Mn) Opportunity Analysis, by Distribution Channel, 2024 to 2034
Table 28: Western Europe Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 29: Western Europe Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 30: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 31: Western Europe Market Value (US$ Mn) Analysis, by Product Type, 2019 to 2023
Table 32: Western Europe Market Value (US$ Mn) Analysis, by Product Type, 2024 to 2034
Table 33: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Product Type, 2024 to 2034
Table 34: Western Europe Market Value (US$ Mn) Analysis, by Distribution Channel, 2019 to 2023
Table 35: Western Europe Market Value (US$ Mn) Analysis, by Distribution Channel, 2024 to 2034
Table 36: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Distribution Channel, 2024 to 2034
Table 37: Eastern Europe Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 38: Eastern Europe Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 39: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 40: Eastern Europe Market Value (US$ Mn) Analysis, by Product Type, 2019 to 2023
Table 41: Eastern Europe Market Value (US$ Mn) Analysis, by Product Type, 2024 to 2034
Table 42: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Product Type, 2024 to 2034
Table 43: Eastern Europe Market Value (US$ Mn) Analysis, by Distribution Channel, 2019 to 2023
Table 44: Eastern Europe Market Value (US$ Mn) Analysis, by Distribution Channel, 2024 to 2034
Table 45: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Distribution Channel, 2024 to 2034
Table 46: East Asia Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 47: East Asia Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 48: East Asia Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 49: East Asia Market Value (US$ Mn) Analysis, by Product Type, 2019 to 2023
Table 50: East Asia Market Value (US$ Mn) Analysis, by Product Type, 2024 to 2034
Table 51: East Asia Market Value (US$ Mn) Opportunity Analysis, by Product Type, 2024 to 2034
Table 52: East Asia Market Value (US$ Mn) Analysis, by Distribution Channel, 2019 to 2023
Table 53: East Asia Market Value (US$ Mn) Analysis, by Distribution Channel, 2024 to 2034
Table 54: East Asia Market Value (US$ Mn) Opportunity Analysis, by Distribution Channel, 2024 to 2034
Table 55: South Asia & Pacific Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 56: South Asia & Pacific Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 57: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 58: South Asia & Pacific Market Value (US$ Mn) Analysis, by Product Type, 2019 to 2023
Table 59: South Asia & Pacific Market Value (US$ Mn) Analysis, by Product Type, 2024 to 2034
Table 60: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Product Type, 2024 to 2034
Table 61: South Asia & Pacific Market Value (US$ Mn) Analysis, by Distribution Channel, 2019 to 2023
Table 62: South Asia & Pacific Market Value (US$ Mn) Analysis, by Distribution Channel, 2024 to 2034
Table 63: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Distribution Channel, 2024 to 2034
Table 64: MEA Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 65: MEA Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 66: MEA Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 67: MEA Market Value (US$ Mn) Analysis, by Product Type, 2019 to 2023
Table 68: MEA Market Value (US$ Mn) Analysis, by Product Type, 2024 to 2034
Table 69: MEA Market Value (US$ Mn) Opportunity Analysis, by Product Type, 2024 to 2034
Table 70: MEA Market Value (US$ Mn) Analysis, by Distribution Channel, 2019 to 2023
Table 71: MEA Market Value (US$ Mn) Analysis, by Distribution Channel, 2024 to 2034
Table 72: MEA Market Value (US$ Mn) Opportunity Analysis, by Distribution Channel, 2024 to 2034
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List Of Figures
Figure 01: Global Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 02: Global Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 03: Global Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 04: Global Market Incremental $ Opportunity, 2024 to 2034
Figure 05: Global Market Share and BPS Analysis by Product Type, 2024 & 2034
Figure 06: Global Market Y-o-Y Growth Projections by Product Type, 2024 to 2034
Figure 07: Global Market Attractiveness Analysis by Product Type, 2024 to 2034
Figure 08: Global Market Share and BPS Analysis by Distribution Channel, 2024 & 2034
Figure 09: Global Market Y-o-Y Growth Projections by Distribution Channel, 2024 to 2034
Figure 10: Global Market Attractiveness Analysis by Distribution Channel, 2024 to 2034
Figure 11: Global Market Share and BPS Analysis by Region, 2024 & 2034
Figure 12: Global Market Y-o-Y Growth Projections by Region, 2024 to 2034
Figure 13: Global Market Attractiveness Analysis by Region, 2024 to 2034
Figure 14: North America Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 15: North America Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 16: North America Market Value Y-o-Y Growth and Forecast, 2034
Figure 17: North America Market Incremental $ Opportunity, 2024 to 2034
Figure 18: North America Market Share Analysis by Country, 2024 & 2034
Figure 19: North America Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 20: North America Market Attractiveness Analysis by Country, 2024 to 2034
Figure 21: North America Market Share and BPS Analysis by Product Type, 2024 & 2034
Figure 22: North America Market Y-o-Y Growth Projections by Product Type, 2024 to 2034
Figure 23: North America Market Attractiveness Analysis by Product Type, 2024 to 2034
Figure 24: North America Market Share and BPS Analysis by Distribution Channel, 2024 & 2034
Figure 25: North America Market Y-o-Y Growth Projections by Distribution Channel, 2024 to 2034
Figure 26: North America Market Attractiveness Analysis by Distribution Channel, 2024 to 2034
Figure 27: Latin America Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 28: Latin America Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 29: Latin America Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 30: Latin America Market Incremental $ Opportunity, 2024 to 2034
Figure 31: Latin America Market Share Analysis by Country, 2024 & 2034
Figure 32: Latin America Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 33: Latin America Market Attractiveness Analysis by Country, 2024 to 2034
Figure 34: Latin America Market Share and BPS Analysis by Product Type, 2024 & 2034
Figure 35: Latin America Market Y-o-Y Growth Projections by Product Type, 2024 to 2034
Figure 36: Latin America Market Attractiveness Analysis by Product Type, 2024 to 2034
Figure 37: Latin America Market Share and BPS Analysis by Distribution Channel, 2024 & 2034
Figure 38: Latin America Market Y-o-Y Growth Projections by Distribution Channel, 2024 to 2034
Figure 39: Latin America Market Attractiveness Analysis by Distribution Channel, 2024 to 2034
Figure 40: Western Europe Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 41: Western Europe Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 42: Western Europe Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 43: Western Europe Market Incremental $ Opportunity, 2024 to 2034
Figure 44: Western Europe Market Share Analysis by Country, 2024 & 2034
Figure 45: Western Europe Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 46: Western Europe Market Attractiveness Analysis by Country, 2024 to 2034
Figure 47: Western Europe Market Share and BPS Analysis by Product Type, 2024 & 2034
Figure 48: Western Europe Market Y-o-Y Growth Projections by Product Type, 2024 to 2034
Figure 49: Western Europe Market Attractiveness Analysis by Product Type, 2024 to 2034
Figure 50: Western Europe Market Share and BPS Analysis by Distribution Channel, 2024 & 2034
Figure 51: Western Europe Market Y-o-Y Growth Projections by Distribution Channel, 2024 to 2034
Figure 52: Western Europe Market Attractiveness Analysis by Distribution Channel, 2024 to 2034
Figure 53: Eastern Europe Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 54: Eastern Europe Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 55: Eastern Europe Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 56: Eastern Europe Market Incremental $ Opportunity, 2024 to 2034
Figure 57: Eastern Europe Market Share Analysis by Country, 2024 & 2034
Figure 58: Eastern Europe Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 59: Eastern Europe Market Attractiveness Analysis by Country, 2024 to 2034
Figure 60: Eastern Europe Market Share and BPS Analysis by Product Type, 2024 & 2034
Figure 61: Eastern Europe Market Y-o-Y Growth Projections by Product Type, 2024 to 2034
Figure 62: Eastern Europe Market Attractiveness Analysis by Product Type, 2024 to 2034
Figure 63: Eastern Europe Market Share and BPS Analysis by Distribution Channel, 2024 & 2034
Figure 64: Eastern Europe Market Y-o-Y Growth Projections by Distribution Channel, 2024 to 2034
Figure 65: Eastern Europe Market Attractiveness Analysis by Distribution Channel, 2024 to 2034
Figure 66: East Asia Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 67: East Asia Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 68: East Asia Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 69: East Asia Market Incremental $ Opportunity, 2024 to 2034
Figure 70: East Asia Market Share Analysis by Country, 2024 & 2034
Figure 71: East Asia Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 72: East Asia Market Attractiveness Analysis by Country, 2024 to 2034
Figure 73: East Asia Market Share and BPS Analysis by Product Type, 2024 & 2034
Figure 74: East Asia Market Y-o-Y Growth Projections by Product Type, 2024 to 2034
Figure 75: East Asia Market Attractiveness Analysis by Product Type, 2024 to 2034
Figure 76: East Asia Market Share and BPS Analysis by Distribution Channel, 2024 & 2034
Figure 77: East Asia Market Y-o-Y Growth Projections by Distribution Channel, 2024 to 2034
Figure 78: East Asia Market Attractiveness Analysis by Distribution Channel, 2024 to 2034
Figure 79: South Asia & Pacific Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 80: South Asia & Pacific Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 81: South Asia & Pacific Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 82: South Asia & Pacific Market Incremental $ Opportunity, 2024 to 2034
Figure 83: South Asia & Pacific Market Share Analysis by Country, 2024 & 2034
Figure 84: South Asia & Pacific Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 85: South Asia & Pacific Market Attractiveness Analysis by Country, 2024 to 2034
Figure 86: South Asia & Pacific Market Share and BPS Analysis by Product Type, 2024 & 2034
Figure 87: South Asia & Pacific Market Y-o-Y Growth Projections by Product Type, 2024 to 2034
Figure 88: South Asia & Pacific Market Attractiveness Analysis by Product Type, 2024 to 2034
Figure 89: South Asia & Pacific Market Share and BPS Analysis by Distribution Channel, 2024 & 2034
Figure 90: South Asia & Pacific Market Y-o-Y Growth Projections by Distribution Channel, 2024 to 2034
Figure 91: South Asia & Pacific Market Attractiveness Analysis by Distribution Channel, 2024 to 2034
Figure 92: MEA Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 93: MEA Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 94: MEA Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 95: MEA Market Incremental $ Opportunity, 2024 to 2034
Figure 96: MEA Market Share Analysis by Country, 2024 & 2034
Figure 97: MEA Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 98: MEA Market Attractiveness Analysis by Country, 2024 to 2034
Figure 99: MEA Market Share and BPS Analysis by Product Type, 2024 & 2034
Figure 100: MEA Market Y-o-Y Growth Projections by Product Type, 2024 to 2034
Figure 101: MEA Market Attractiveness Analysis by Product Type, 2024 to 2034
Figure 102: MEA Market Share and BPS Analysis by Distribution Channel, 2024 & 2034
Figure 103: MEA Market Y-o-Y Growth Projections by Distribution Channel, 2024 to 2034
Figure 104: MEA Market Attractiveness Analysis by Distribution Channel, 2024 to 2034
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
How big is the infant milk formula market in 2024?
The global market for infant milk formula is estimated at US$ 6.3 billion in 2024.
What is the estimated CAGR for the baby milk formula?
The global baby milk formula market is foreseen to advance at a CAGR of 13.5% between 2024 and 2034.
What portion of the North American market does Canada occupy?
Canada is projected to hold 34.5% share of the North American market by 2034.
What is the demand projection for infant milk formula for 2034?
Worldwide revenue from the sales of baby milk formula is projected to reach US$ 22.35 billion by 2034.
How fast is the market projected to expand in South Korea?
The market in South Korea is forecasted to expand at 14.3% CAGR through 2034.
Who are the leading manufacturers of infant milk formula?
Some of the leading market players are Wyeth, Feihe, Danone, Kraft Heinz Company, and Meiji Holdings Co. Ltd.
What are the estimated sales of infant milk formula from supermarkets?
The supermarkets segment is estimated to reach a value of US$ 1.76 billion in 2024.
Infant Milk Formula Market