Baby Specialty Milk Formula Market Size & Share, by Age Group {New Born (0-3 months), Infant (3-12 months), Toddler (1-3 years)}; Distribution Channel (Supermarket, Pharmacy, Online, Specialty Outlets) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 327
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Baby Specialty Milk Formula Market size is poised to cross USD 90 Billion by the end of 2033, growing at a CAGR of 5% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of baby specialty milk formula was over USD 40 Billion. The growth of the market can be attributed primarily to the increasing birth rates worldwide. It was observed that in 2021, approximately 3,650,200 babies were born in the United States, an increase of 1% compared to 2020.

The term specialty milk formula refers to a type of infant milk formula designed to feed babies with health issues. The purpose of infant formula is to feed babies when their mothers are not available to breastfeed. Users are becoming increasingly interested in these infant milk formulas owing to their nutritional benefits and ease of accessibility. Compared to whole milk, baby milk formula has several advantages. Baby specialty milk formula contains high levels of whey protein, iron, Vitamin E, and C, as well as essential minerals and fatty acids. Providing these nutrients to an infant is crucial to their overall development. Moreover, growing health concerns among parents about their children, increased awareness of specialty milk formulas, and decreasing breastfeeding rates are anticipated to fuel baby specialty milk formula market growth in coming years. For instance, approximately 78 million babies are not breastfed within their first hour of life, which increases their risk of death and disease, as well as their likelihood of continuing breastfeeding.


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Baby Specialty Milk Formula Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Prevalence Of Gestational Diabetes Worldwide-According to the Centers for Disease Control and Prevention, gestational diabetes affects 2% to 10% of pregnancies in the United States every year. 
  • A baby born to a woman who has gestational diabetes may have a greater likelihood of becoming obese or diabetic in the future. A growing number of women suffering from such diseases are adopting specialty milk formulas for their newborns and infants. Thus the rising cases of gestational diabetes are estimated to drive global baby specialty milk formula market growth over the forecast period.
  • High Level Of Expenditures On Infant Health Care - According to estimates, within the first year of life of the sample of infants, nearly USD 300,200 was spent on healthcare services
  • Huge Number Of Children Suffering From Diseases- For instance, pneumonia, malaria and diarrhea accounted for nearly 28% of global deaths among children under the age of five in the year 2019.
  • Rise in Personal Disposable Income- During July 2022, the Bureau of Economic Analysis reported an increase in personal disposable income of USD 37.6 billion (0.2%), while personal income increased by USD 47.0 billion
  • Increasing World Population - It was observed that the world's population is estimated to grow by 2 billion people over the next 30 years, to 9.6 billion in 2050 and potentially 10 billion by 2100.

Challenges

  • Government Initiative To Spread Awareness About Breastfeeding 
  • Declining Fertility Rate In Undeveloped Countries 
  • High Cost Of Production 

Baby Specialty Milk Formula Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

5%

Base Year Market Size (2022)

USD 40 Billion

Forecast Year Market Size (2033)

USD 90 Billion

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Baby Specialty Milk Formula Segmentation

Age Group {New Born (0-3 months), Infant (3-12 months), Toddler (1-3 years)}

The global baby specialty milk formula market is segmented and analyzed for demand and supply by age group into a newborn (0-3 months), infant (3-12 months), and toddler (1-3 years). Among these segments, the newborn (0-3 months) segment is anticipated to capture the largest market size in the global baby specialty milk formula market owing to an increasing number of newborn babies. According to estimates, there are about 380,000 births per day around the world, or approximately 138 million births per year. Moreover, a breastfeeding difficulty among women with some form of the disease, coupled with increasing awareness of newborn health and care is projected to drive segment growth over the forecast period.

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

         By Age Group

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

         By Distribution Channel

  • Supermarket
  • Pharmacy
  • Online
  • Specialty Outlets
  • Others

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Baby Specialty Milk Formula Industry - Regional Synopsis

Regionally, the global baby specialty milk formula market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033 backed by the increasing number of working mothers coupled with the rising number of women returning to work after giving birth. It was observed that 1 in 4 mothers return to work in the United States within 10-15 days following childbirth. Moreover, concerns about infant healthcare, increasing income levels, and high women employment rate are factors anticipated to drive baby specialty milk formula market growth in the region during the forecast period.

Research Nester
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Companies Dominating the Baby Specialty Milk Formula Landscape

top-features-companies
    • Danone S.A.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Perrigo Nutritionals
    • Nestle SA
    • Piermen B.V.
    • Bebelan Lacta Ltd.
    • Mead Johnson & Company, LLC.
    • Savencia Fromage & Dairy
    • Abbott Laboratories
    • Else Nutrition 
    • Arla Foods Ingredients Group P/S

In-the-news

In The News

  • As a result of parent demand for vegetarian, flexitarian and plant-based diet-compliant baby formulas, Danone S A launched the brand new Dairy & Plants Blend. 
  • In order to develop innovative products and technologies for South East Asia, Nestlé SA expanded its R&D facilities in Singapore 

Author Credits:  Anil Kumar, Ipsheeta Dash


  • Report ID: 327
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing disposable income, high women employment rate in developed countries and decreasing breastfeeding rates are the major factors driving the growth of the baby specialty milk formula market.

The market is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2023-2033.

Government initiative to spread awareness about breastfeeding and high production cost are the challenges affecting the market growth.

The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Danone S.A., Perrigo Nutritionals, Nestle SA, Piermen B.V., Bebelan Lacta Ltd., Mead Johnson & Company, LLC., Savencia Fromage & Dairy, Abbott Laboratories, Else Nutrition, Arla and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by age group, distribution channel and, by region.

The new born segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Baby Specialty Milk Formula Market Report Scope
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