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Global Infant Nutrition Market size was valued at USD 64.82 billion in 2021 and is poised to grow from USD 87.12 billion in 2022 to USD 110.2 billion by 2030, growing at a CAGR of 5.8% in the forecast period (2023-2030).

The baby formula market has been heavily consolidated, with four global manufacturers controlling the industry. Among these companies are Danone, Nestlé, Abbott, and Mead Johnson. Nestlé has a market share of more than 20% in baby formula, followed by Danone, which has a market share of more than 10%. Abbott and Mead Johnson together control more than 10% of the market. 'Abbott Laboratories', 'Danone S.A.', 'Nestlé S.A.', 'Mead Johnson Nutrition Company', 'Reckitt Benckiser Group plc', 'The Kraft Heinz Company', 'The Hain Celestial Group, Inc.', 'The Honest Company', 'HiPP GmbH & Co. Vertrieb KG', 'Ausnutria Dairy Corporation Ltd.', 'Beingmate Baby & Child Food Co., Ltd.', 'FrieslandCampina', 'Feihe International Inc.', 'Hero Group', 'Royal FrieslandCampina N.V.', 'Arla Foods amba', 'Synutra International, Inc.', 'Pinnacle Foods Inc.', 'Plum, PBC', 'Danalac Infant Formula'

There are several important factors driving the baby formula market's growth. The growing number of working moms, driven by economic growth that creates employment that brings more women into the workforce, is a primary driver of growth for the infant formula business. Another factor is the growing number of middle-class homes that can purchase baby formula as a result of economic and demographic expansion. This is especially true in emerging markets. Another significant contributor is the number of babies born in general.

Plant-based consumption is increasing significantly, with almost one-third [37%] of EU consumers opting for a vegan, vegetarian, or flexitarian diet, and nearly 70% [69%] of parents increasingly preferring their children eat more plant-based meals. Until recently, there have been few options for parents who wish to transition away from breastfeeding and make healthier, more plant-based, and environmentally friendly meal choices.

Asia Pacific is the world's largest market for baby nourishment products. During the projection period, the regional market is expected to grow at a CAGR of more than 8% by 2028. The regional market is primarily driven by high birth rates, which create considerable demand. The strong impetus supplied to the local sector, as well as the increased reliance on imports, have further fuelled market expansion, as has growing demand for better, quality, and premium items. Another important factor for the region's supremacy is the presence of China, which is the world's largest consumer of newborn and baby food products. Furthermore, China's decision to end its "one-child" policy and an increase in the country's birth rate are expected to boost market development.

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Global Infant Nutrition Market

Product ID: SQSG30I2042