Infant Formula Market Updates

Infant Formula Market size was valued at USD 35237.5 Million in 2023 and is poised to grow from USD 38972.68 Million in 2024 to USD 86570.27 Million by 2032, growing at a CAGR of 10.6% during the forecast period (2025-2032).

The global infant formula market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their company globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability. 'Nestlé S.A. ', 'Danone S.A. ', 'Abbott Laboratories ', 'Reckitt Benckiser Group plc ', 'Royal FrieslandCampina N.V. ', 'Arla Foods amba ', 'Mead Johnson Nutrition Company ', 'The Kraft Heinz Company ', 'Perrigo Company plc ', 'Bellamy’s Organic ', 'Hain Celestial Group, Inc. ', 'Beingmate Baby & Child Food Co., Ltd. ', 'Synutra International, Inc. ', 'Meiji Holdings Co., Ltd. ', 'Yili Group ', 'Biostime Inc. ', 'Fonterra Co-operative Group Limited ', 'China Feihe Limited ', 'Ausnutria Dairy Corporation Ltd. ', 'Hipp GmbH & Co. Vertrieb KG'

Low breastfeeding rates and fertility rates show an early reliance on breast milk substitutes. Modernization and changing lifestyles are also responsible for the growing demand for infant formula. Demand for the product among parents is being fueled by its convenience and improved composition. The infant formula market growth is anticipated to be positively impacted by the rising investment made by the key players in the research & development of novel products. For instance, Nestle S.A. inaugurated a brand-new research facility in Ireland in January 2021. For the global market, the centre will concentrate on creating innovations in milk-based newborn and maternal nutrition products.

The baby nutrition market is flourishing globally, with promising prospects for rapid expansion in the industry amid a frenzy of innovation including essential substances like probiotics and human milk oligosaccharides. In recent years, a trend for clean label, plant-based, and organic products has emerged. The expansion of organic and clean-labeled newborn nutrition products is anticipated to be supported by the increased consumer trend away from chemical components and toward all-natural and plant-based ingredients.

Asia-Pacific is the largest market for infant formulas. During the projection period, the regional market is anticipated to grow at a CAGR of 10.88 % by 2028. Strong demand resulting from high birth rates dominates the regional infant formula market. The local industry's strong incentives and increased reliance on imports, together with the rising consumer demand for more expensive, higher-quality goods, have also contributed to the infant formula market expansion in the region. China, which is one of the world's largest consumers of newborn and baby food products also contributes to the dominance of Asia-Pacific in the global infant formula market. Additionally, it is anticipated that China's decision to end its "one-child" policy and a rise in domestic birth rates will have a beneficial effect on market expansion. Due to an increase in the number of working women and growing knowledge of the advantages and nutritional worth of the goods, demand is expanding across the Middle East and Africa. Additionally, the greater familiarity with the western way of life and the underlying soundness of the economy are likely to have a favourable effect on product demand.