Baby Specialty Milk Formula Market : Global Demand Analysis & Opportunity Outlook 2024

Global Baby Specialty Milk Formula Market Overview

Specialty milk formula refers to a type of infant milk formula which caters to the need of feeding babies who is suffering from health related issues. Infant formula is meant to be feed to babies when mother is not available for breastfeeding. These infant milk formulas are gaining traction among users owing to their nutritious benefits and easily availability. The baby milk formula offers various advantages over the whole milk. The baby specialty milk formula consists of high concentration of whey protein, high amount of iron, Vitamin E & C, essential minerals and fatty acids. These nutrients are important for overall development of the infant. 

Market Size and Forecast

The global baby specialty milk formula market was valued at USD 1.6 Billion in 2016 and is expected to register a CAGR of 8.2% over the forecast period. Further, the market is estimated to garner about USD 3.4 Billion by the end of 2024. This significant growth can be attributed to various factors such as rising disposable income, increasing health concerns among parents and escalating woman workforce all across the globe.

In the regional platform, North America is the largest market in the term of market revenue share in overall baby specialty milk formula. The market of baby specialty milk formula is majorly driven on the back of the increasing infant healthcare concerns and rising disposable income in the region. Further, increase in the number of working mothers is likely to spur the demand for baby specialty milk formula market in the North-America region over the forecast period i.e. 2017-2024.

Asia-Pacific market of baby specialty milk formula market is estimated to be the fastest growing market across the globe. Growing birth rate in developing nations is expected to foster the demand for baby specialty milk formula market over the forecast period. China and India accounts for the highest percentage of market share in baby specialty milk formula in the Asia-Pacific region. In the Europe region, Western Europe is likely to dominate the specialty milk formula market and is projected to witness a robust growth over the forecast period.

Market Segmentation

Our in-depth analysis segmented the global baby specialty milk formula market in the following segments:

By Age Group

• New Born (0-3 months)
• Infant (3-12 months)
• Toddler (1-3 years)

By Distribution Channel

• Supermarket
• Pharmacy Store
• Online Store
• Specialty Outlets
• Others

By Region

Global mobile analytics market is further classified on the basis of region as follows:

• North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
• Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
• Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, South Korea & Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
• Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis

Growth Drivers and Challenges

Increasing health consciousness for infants and rising number of woman workforce are some of the key growth drivers which are substantially raising the demand for baby specialty milk formula all across the globe. Apart from this, increasing awareness about the specialty milk formula and its benefits in the developing region is expected to drive the market of baby specialty milk formula.

Increasing popularity of baby specialty milk formula due to the rising infant health concerns is envisioned to bolster the growth of specialty milk formula market over the forecast period. Rising participation of women in work is anticipated to be a key growth driver for the growth of global baby specialty milk formula market over the forecast period.

Heavy adoption of online store purchasing has been witnessed in recent years. Further, preference for purchasing baby foods through e-commerce channels is likely to boost the growth of baby specialty milk formula market all over the globe.

However, government initiative to spread awareness about breastfeeding is expected to restrain the growth of global baby specialty milk formula market.  Moreover, declining birth rate in undeveloped countries and high cost of production is anticipated to further restrain the market in future.

Key players

• Perrigo Nutritionals
  • Company Overview
  • Key Product Offerings
  • Business Strategy
  • SWOT Analysis
  • Financials
• Nestle SA
• Piermen B.V.
• Bebelan Lacta Ltd.
• Abbott Laboratories
• Danone Nutricia
• Mead Johnson & Company, LLC.
• Savencia Fromage & Dairy
• Abbott Laboratories
• AptaNutrition

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global baby specialty milk formula market is segmented as follows:

• By Age Group Market Size & Y-O-Y Growth Analysis
• By Distribution Channel Market Size & Y-O-Y Growth Analysis
• By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment