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Infant Formula Market : Global Demand Analysis & Opportunity Outlook 2021

Published On : December, 2018 REP-ID-63 Category: FMCG & Food

Infants aged 0-12 months need breast milk or a formula which can provide them all nutritional values present in breast milk. Infant formula is one such medium to meet all alimentary needs of infants and is highly preferred by medical professionals now-a-days. 

Global infant formula market is envisioned to expand at a robust compound annual growth rate (CAGR) of 10.3% over the period of 2016-2021. Regionally, the global infant formula market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and North Africa (MENA) and Rest of World (Row).

Market Size and Forecast

Asia-Pacific region is anticipated to hold the highest demand of infant formula market over the forecast period of 2015-2021. The market in the region is likely to spark from rapidly surging infant population and increasing per capita income in countries such as India and China.

Infant Formula market

After Asia-Pacific, North America is expected to hold a significant growth in infant formula market from 2015-2021. The market in the region is likely to get bolstered from increasing birth rate (which increased by 1.1% during 2013-2014 for women aged 15-44 years)

Marking its presence in the global infant food market, Europe infant formula market is likely to augment at a rapid pace driven by rising technological innovations related to infant formula in the region.

Market Segmentation

By Form

  • Powders
  • Concentrated Liquids
  • Ready-to-Use

By Type

  • Standard cow's milk-based formula
  • Soy-based formula
  • Hypoallergenic formulas
  • Lactose-free formula

By Distribution Channel

  • Specialty outlets
  • Online stores
  • Supermarkets
  • Others

By Product Type

  • Infant Milk Formula
  • Growing-up Milk Formula
  • Follow-on Milk Formula
  • Specialty Baby Milk Formula

Growth Drivers and challenges

Rising infant health awareness coupled with increasing disposable income is likely to spark the growth of global infant formula market over the forecast period i.e. 2015-2021.

In addition to that, surge in total number of working mothers, expansion of birth rate and technological innovations are also expected to bolster the global infant formula market in future.

However, high cost of infant formula products and lack of awareness about right food products for infants is anticipated to restrain development of the global infant formula market in future.

Key Players

Global infant formula market includes some of the top players such as Nestle, Pfizer Inc., Mead Johnson Nutrition, Groupe Danone, Abbott Laboratories, Hain Celestial Group, Inc. ( Earth’s Best), Nature’s One, Inc., Vermont Organics Infant Formula, Friso and The Hero Group

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