Breast Milk Substitutes Market Size By Substitute (Milk-based Formula, Soy-based Formula, Hypoallergenic Formula), By Formula (Powdered, Concentrated Liquid, Ready-to-use), By Distribution Channels (Pharmacies, Retail Stores), Regional Outlook, Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

Industry Statistics

Breast Milk Substitutes Market size surpassed USD 73 billion in 2022 and is poised to depict over 9.5% CAGR through 2023-2032, on account of the increasing labor participation of women.
 

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With the economic boom and ease in access to education, the working women population continues to rise. Several initiatives have also been launched to encourage women’s employment. For instance, Japan has introduced wide-ranging campaigns to boost the labor force contribution of women. Additionally, the government took key measures to ensure daycare subsidization, increase allowances for new parents, and provide paid parental leaves. Such initiatives will promote the adoption of suitable alternatives to breast milk among working women worldwide, to provide adequate nutrition to their babies without hassle.
 

Despite the favorable business landscape, stringent norms associated with the marketing of breast milk substitutes have been introduced. Childhood obesity has also emerged as a concerning factor of malnutrition that poses lifelong health risks. Moreover, the rising awareness of the health consequences of breast milk replacement may assert an adverse impact on product sales. However, the growing service sector and high cost of living will encourage the work participation of women and consequently create opportunities for industry growth over the estimated timeline.
 

Rising burden of atopic diseases to boost hypoallergenic formula consumption

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Breast milk substitutes market share from the hypoallergenic formula substitute segment is slated to register over 9% CAGR through 2032, due to the rising prevalence of food allergies, eczema, and asthma. This factor has shifted consumer preference toward hypoallergenic formulas to prevent atopic diseases among infants. This protein hydrolysate breast milk substitute is also recommended for consumers who are unable to tolerate soy and cow milk-based formulas, further promoting product usage.
 

Powdered infant formula to emerge as a preferred breast milk alternative

The industry value from the powdered formula segment is projected to cross USD 85 billion by 2032, given its long shelf life and cost-effectiveness as compared to ready-to-use and concentrated liquid counterparts. However, powdered milk formula may contain bacteria, making it risky for consumption by infants less than two months of age. Despite these potential risks, powdered infant formulas are recommended to avoid nutrition-related diseases in infants during their early growth stages, thus accelerating their sales worldwide.
 

Stringent formula marketing regulations drive breast milk alternative sales from pharmacies

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Breast milk substitutes market from the pharmacies distribution channel is expected to depict a 9.5% CAGR through 2023-2032. Stringent regulations regarding infant product distribution and breast milk substitute promotional measures are some of the prominent drivers for product sales from pharmacies. Varied policies have also been introduced to promote the use of infant formulas, further bolstering breast milk substitute demand across pharmacy chains.
 

High female employment participation rate to amplify breast milk substitute production in APAC

On the regional front, the Asia Pacific breast milk substitutes market size is anticipated to be worth over USD 81 billion by 2032. This is due to the increasing financial support from private and public organizations to boost awareness of breast milk substitutes. In Southeast Asia, the female employment participation rate is also higher than the global average, mainly due to cultural transformations over the past 40 years. These factors, alongside the strong focus of regional companies on capturing high market share, will contribute to breast milk alternative production across the region.
 

Innovative product launch strategies to reinforce the global industry landscape

The competitive landscape of the breast milk substitutes market comprises companies such as The Kraft Heinz Company, Hyproca, Fonterra Co-operative Group, Mead Johnson & Company, LLC (Reckitt Benckiser), Vitagermine SAS, Nestle, Danone Nutricia, Abbott Nutrition, and FrieslandCampina, among others. These companies are incorporating product launches and other strategies to expand their foothold across the industry.
 

For instance, in September 2022, Nestle introduced Nutrilearn Connect, an infant formula, in Hong Kong. This product was developed with a novel ingredient, myelin, to protect and insulate nerve fibers for cognitive and behavioral development of infants. This strategy was meant to offer growth opportunities and allow the company to establish a strong presence in the market.
 

Influence of COVID-19 outbreak on breast milk substitutes market trends

The coronavirus pandemic created a public health crisis and multiple social disruptions, thereby posing a negative impact on global industry verticals, including breast milk substitutes. However, the global birth rate has been surging significantly over recent years. Based on researchers at the University of Michigan Health Organization, the number of births will likely increase over the years ahead. This, along with the gradual ease of restrictions and normalization of supply chains, will generate opportunities for breast milk alternative producers to expand their businesses during the pandemic.
 

The breast milk substitutes market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

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By Substitute

• Milk-based formula
• Soy-based formula
• Hypoallergenic formula
• Others

By Formula

• Powdered
• Concentrated liquid
• Ready-to-use

By Distribution Channel

• Pharmacies
• Retail stores
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Others
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • Others