Breast Milk Substitutes Market Analysis

Breast Milk Substitutes Market Analysis

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.
 

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.
 

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.
 

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.