Infant Formula Market Size - By Product (Standard, Follow-on, Toddler, Specialty), Distribution Channel (Hypermarket, Supermarket, Convenience Stores, Online) & Forecast, 2024-2032

Infant Formula Market Size

Infant Formula Market size was valued at USD 43.1 billion in 2023 and is anticipated to grow at over 10.4% CAGR from 2024 to 2032. The rising incidence of premature births and metabolic disorders among babies will drive the industry expansion.
 

Over recent years, the occurrence of premature birth has been surging. Based on data from the March of Dimes Organization, close to 380,000 babies are born prematurely per year in the U.S., which is critical in high-resource countries. These factors will promote bottle feeding of infant formula to suit the nutritional needs of preterm babies. Despite the favorable business environments, the introduction of stringent regulations pertaining to infant food products may act as a factor limiting industry development to some extent. 
 

Infant Formula Market Trends

Governments across the world are enforcing stricter regulations regarding the marketing, composition, and safety of infant formulas. The strong compliance with these regulations is essential for market players. Consumers are also increasingly concerned about sustainability and clean labeling. To that end, several brands are responding by ensuring that their products have transparent ingredient lists and use sustainable packaging.
 

Infant Formula Market Analysis

The standard product segment is slated to exceed USD 23.7 billion by 2032, owing to the increasing instances of malnutrition among babies aged 0 to 6 months. Since the first 6 months are critical for the health of infants, formulas are specially manufactured to satisfy their nutritional requirements. Standard formulas also help in managing infant diets, through the delivery of essential nutrients required to thrive and develop. Initiatives, such as the demand for standard infant formula to manage malnutrition, address feeding concerns, and limit the lifelong consequences of stunted growth in infants will also drive segment growth.
 

Infant formula market share from the supermarkets distribution channel segment is anticipated to register over 10.3% CAGR through 2032. Supermarkets have emerged as an ideal sales channel for infant nutrition products since they give customers access to formulas at discounted prices. Furthermore, the delivery of a seamless shopping experience has also increased footfall in supermarket chains. However, the ongoing supply disruptions due to safety recalls may hamper the demand for infant formulas from supermarkets to a certain extent.
 

Asia Pacific infant formula market value is projected to cross USD 40 billion by 2032, driven by rising birth rates, increasing disposable incomes, and a growing preference for convenient and nutritionally balanced feeding options among working parents. Urbanization and lifestyle changes have led to higher demand for premium and specialized infant formulas tailored for specific nutritional needs. The expanding middle class population and increased awareness of infant nutrition have fueled the popularity of high-quality and organic formulas in the region.
 

Infant Formula Market Share

Companies are focusing on strategies, such as mergers and acquisitions to expand their customer base and reinforce their presence in the global market.
 

Infant Formula Market Companies

Top companies operating in the infant formula industry include:

• Nestlé SA
• HiPP Bellamy's Organic
• Hero Group
• Perrigo
• BUB`S Australia
• Arla Group
• Nutricia
• Abbot Laboratories
• Mead Johnson Nutrition
   

Infant Formula Industry News

• In May 2024, Wyeth introduced first infant formula in China containing two types of HMOs, pioneering advancements in HMO innovation.
   

The market research report of infant formula includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2021 to 2032 for the following segments:

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Market, By Product

• Standard
• Follow-on
• Toddler
• Specialty

Market, By Distribution Channels

• Hypermarkets
• Supermarkets
• Convenience stores
• Online
• Others

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

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA