Breast Milk Substitutes Market Size By Substitute Type (Milk-based Formula, Soy-based Formula, Hypoallergenic Formula), By Formula Type (Powdered, Concentrated Liquid, Ready-to-use), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Jun 2019  |  Report ID: GMI3373  |  Authors: Sumant Ugalmugale, Rupali Swain

Report Format: PDF   |   Pages: 130   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Breast Milk Substitutes Market size was valued at over USD 60 billion in 2018 and is expected to witness 10% CAGR from 2019 to 2025.
 

U.S. Breast Milk Substitutes Market, By Substitute Type, 2018 & 2025 (USD Million)

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Increasing number of working women in developed and developing countries will be the major factor driving breast milk substitutes market growth. Rising initiatives to drive women education and empowerment is stimulating increase in the working-class women, especially across the low and middle income nations. Busy work schedules do not favor breastfeeding and may act as hindrance to the baby’s growth. Hence, numerous women prefer infant formula to achieve sub-optimal development and growth of the baby, that will highly impact breast milk substitutes market growth over the forthcoming years.
 

Booming number of births in countries including India and China will positively influence breast milk substitutes industry size over the upcoming period. As per a recent study, the number of births in India were 25.2 million and 17.0 million in China in the year 2015. Such high number of infants will spur the demand for breast milk substitutes in the coming years. Moreover, varying trends in breastfeeding during the three years of the infant’s development, will positively impact breast milk substitutes market growth in the future years.
 

However, stringent regulations and guidelines regarding marketing of breast milk substitutes globally will act as a barrier for breast milk substitutes industry expansion over the forecast timeframe.
 

Breast Milk Substitutes Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 60 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 10% 2025 Value Projection: 119 Billion (USD)
Pages: 130 Tables, Charts & Figures: 171
Geographies covered (15): U.S., Canada, UK, Germany, France, Spain, Italy, China, India, Japan, Australia, Brazil, Mexico, South Africa, Saudi Arabia
Segments covered: Substitute Type, Formula Type and Region
Companies covered (9): Fonterra Co-operative Group, The Kraft Heinz Company, Mead Johnson & Company, LLC (Reckitt Benckiser), Nestle, Vitagermine SAS, Abbott Nutrition, Danone Nutricia, FrieslandCampina, Hyproca
Growth Drivers:
  • Increasing number of working-class women
  • Rising awareness and acceptance of infant formula especially in developing countries
  • Increasing spending by companies to market breast milk substitutes
  • Higher birth rate in developing countries coupled with rise in number of premium infant nutrition products
Pitfalls & Challenges:
  • Stringent regulation for marketing of breast milk substitutes

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Breast Milk Substitutes Market, By Substitute Type

Milk-based substitutes market accounted for more than 71% market share in 2018. Consumption of milk-based substitutes has increased over the period as cow/goat milk supplements breast milk’s nutritional qualities to the babies. Cow milk is fortified with vitamin D and calcium, benefiting whole body growth along with bone development of the baby. Additionally, milk-based infant formula contains vitamins, minerals, vegetable oils and iron for the infant growth. Thus, milk-based substitutes being the most commonly adopted substitute type will dominate the industry throughout the forecast years.
 

Hypoallergenic formula market accounted for USD 1.9 billion market size in 2018. Hypoallergenic breast milk substitutes are basically protein hydrolysate formulas recommended for infants unable to tolerate cow milk or soy-based formulae. According to the American Academy of Pediatrics, prevalence of milk protein allergy among infants is about 2 to 3%. Hypoallergenic formula contains hydrolyzed proteins that may partially or extensively hydrolyze into smaller sizes than found in cow milk or soymilk, thus helping the infants with allergies. Hence, rising prevalence of eczema, food allergy and asthma should boost segmental growth over the coming years.
 

Breast Milk Substitutes Market, By Formula Type

Powdered breast milk substitutes is forecasted to progress at robust 10.2% CAGR over the projected years. Powdered formulas are commonly used breast milk substitutes due to ease of preparation and high cost-effectivity in comparison with other types of breast milk substitute formula. In addition, leading market players including Nestle, Abbott Nutrition and Danone among few others are majorly involved in manufacturing of powdered formulae. Aforementioned factors will expand the adoption rate of powdered breast milk substitutes over the estimation period.
 

Ready-to-use breast milk substitutes accounted for substantial revenue share of over 39% in 2018. This formula type offers high sterility, safety and is a convenient option for the working-class women. Ready-to-use breast milk substitutes offer favorable time-effectivity; however, it is expensive than other breast milk substitutes, that may hamper its preference. Moreover, such breast milk substitutes can be used for infants with high risk of infection, thus expanding the segmental share.
 

Breast Milk Substitutes Market, By Distribution Channel

Retail stores held significant market value of over USD 28 billion in 2018. Rapid expansion in retail stores in developing nations will highly impact the segmental share. Availability and purchase of breast milk substitutes is convenient in retail stores and most of these substitutes do not require prescription. Availability of breast milk substitutes at less expensive prices will further drive the demand for these products in retail stores, thereby augmenting the segmental growth.
 

Others distribution channel segment including e-commerce platforms, baby stores and few other channels is estimated to grow at robust 10.0% CAGR over the forecast timeframe. Increasing internet penetration in the developing economies is boosting convenience as well as preference for products sales through online channels. Moreover, emergence of specialty and convenience stores such as Mom and baby stores coupled with distribution of breast milk substitutes through special supplemental nutrition programs will offer lucrative segmental growth in the forthcoming years.
 

 India Breast Milk Substitutes Market, By Distribution Channel, 2018 (USD Million)
India Breast Milk Substitutes Market, By Distribution Channel, 2018 (USD Million)

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Breast Milk Substitutes Market, By Region

China breast milk substitutes market accounted for more than 24% market share in 2018 of the global breast milk substitutes industry. Poor regulations and lack of proper legislation for breastfeeding are the primary factors for high sales of breast milk substitutes in the country. Also, China is focusing on reducing child mortality rates by promoting good infant and young child feeding practices in the rural areas. Low breastfeeding rates will further influence the product demand, thereby offering lucrative growth potential to China breast milk substitutes industry.
 

Mexico breast milk substitutes market is forecasted to progress at momentous pace of 10.3% CAGR during the projected timeframe. Lower rates of breastfeeding by mothers in the country will be a major contributor for driving the demand for breast milk substitutes. According to the World Health Organization, breastfeeding rate is very low in Mexico. In addition, rising spending on marketing of breast milk substitutes will further accelerate Mexico breast milk substitutes business growth over the coming years.
 

Asia Pacific Breast Milk Substitutes Market, By Country, 2025 (USD Million)
Asia Pacific Breast Milk Substitutes Market, By Country, 2025 (USD Million)

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Competitive Market Share

Nestle, Danone, Abbott Nutrition, Mead Johnson (Reckitt Benckiser) and Kraft Heinz among others are some of the key industry players operating in the global breast milk substitutes market. These players are implementing several strategies to gain competitive advantage over its competitors, such as marketing strategies, acquisitions and partnerships. For instance, in February 2017, Mead Johnson announced its acquisition by the Reckitt Benckiser Group that allowed expansion of Reckitt Benckiser’s product portfolio by including Mead Johnson’s Enfa and Nutramigen product lines.
 

Breast Milk Substitutes Industry Background

Before late 1860s, breastfeeding was the prime source of optimum child development and nourishment. Later, several years after the introduction of breast milk substitutes in the late 1860s, the rate of breastfeeding fell down rapidly between 1930s and 1970s. Aggressive marketing efforts, especially in countries having high birth rate served as a lucrative growth opportunity for manufacturing firms, further leading to growth in adoption of breast milk substitutes. However, increasing breast milk substitute-related infections, malnutrition, pneumonia and ultimately mortalities due to contamination of these products resulted into numerous initiatives to control marketing of breast milk substitutes and preserve breastfeeding. Non-governmental organizations such as World Health organization, UNICEF and others developed a Code to limit promotion of breast milk substitutes and other food that replaces breastfeeding. Realization of harmful effects of breast milk substitutes and awareness about the benefits of breastfeeding slowed down breast milk substitutes business growth eventually. However, even after several amendments in the legislation and restrictions on marketing of products by the major companies, breast milk substitutes market still continues to evolve owing to increasing number of working-class women and shift in perception of infant formula as modern formula milk in few countries. Furthermore, increase in prevalence of allergies related to breastmilk, intense marketing activities and investments by firms coupled with rising disposable income will provide momentous potential for breast milk substitutes industry growth in the foreseeable future.
 


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