BABY FOOD AND INFANT FORMULA MARKET REPORT OVERVIEW
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global baby food and infant formula market size was USD 68090 million in 2019 and market to touch USD 110907.48 million by 2032 at CAGR 3.8% during the forecast period.
Baby food and breast milk substitute is a soft fruit, vegetable and cereal puree suitable for children from four months to two years. Because it contains essential nutrients that help babies grow, it is believed to be an ideal substitute for breast milk. Because babies lack the muscles and teeth needed for proper chewing, baby food and formula are their main sources of nutrition. Over the years, parents have switched to packaged foods for convenience and better nutrition.
The infant formula industry is expected to be fueled by the high nutritional content of infant formula. The infant formula segment accounted for the largest share of the global infant formula market. Breastfeeding is not always possible for mothers who work outside the home; therefore, breast milk substitute is a suitable alternative for the baby, because its composition is similar to that of breast milk. Infant formula contains nucleotides, which are important for metabolic processes such as energy metabolism and enzymatic reactions. In addition, doctors recommend the use of infant formula as a substitute for breast milk due to its high nutritional value, which is accelerating the growth of the market.
COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
Due to the lack of baby food and infant formula, many parents faced unprecedented difficulties after the start of the COVID-19 pandemic. According to an online survey of more than 300 American child care providers by the Department of Psychological Sciences, the pandemic has had a negative impact on the baby food market. Lack of product knowledge and high prices made it difficult for the industry to expand during the pandemic. However, with the gradual relaxation of restrictions, distribution routes of baby food have become more flexible and sales of the product have gradually returned to pre-pandemic levels, especially in developing countries.
LATEST TRENDS
"High Demand For Organic Baby Products And Rapid Growth Through Online Channels Drive Market Growth"
Organic and natural products are popular and a big trend in the baby food and formula market. According to an article published in the Hindu magazine in 2018, non-organic baby products contain many synthetic ingredients that can cause health problems. As a result, parents are increasingly choosing organic and natural products to provide their baby with nutritious food that is both sustainable and safe. Additionally, customer preferences are shifting to online channels, especially in the current covid-19 pandemic scenario, leading to increased sales of baby food and infant formula through online channels to avoid churn.
BABY FOOD AND INFANT FORMULA MARKET SEGMENTATION
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- By Type
Based on type the global market can be categorized into Standard cow's milk-based formulas, Soy-based formulas, Hypoallergenic formulas, Lactose-free formulas.
Standard cow's milk-based formulas is based on cow's milk suitable for most full-term and premature babies.
Lactose-free infant formula is designed for babies who have trouble digesting the milk sugar lactose.
Many hypoallergenic baby formulas are still made from cow's milk and are not the same as lactose-free infant formulas, but the proteins have been extensively hydrolyzed. This process pre-digests the milk proteins in the cluster and makes the protein particles very small so that they do not cause allergies.
The soy product replaces human breast milk. It is a commercial product based on soybean proteins. Soybean formula uses processed soybeans as a protein source and comes in powder or liquid form. In general, lactose-soy infant formula contains various sugars.
- By Application
Based on application the global market can be categorized into 0-6 Months, 6-12 Months, >12 Months.
A baby up to 2 months is called a newborn, up to one year old baby.
Baby up to 6 months to 1 year, they are often called toddlers.
DRIVING FACTORS
"Increase In The Number Of Working Women Augment The Market Growth"
As the number of working women is increasing and there is a rapid shift towards ready-made foods, the demand for baby food and infant formula is increasing, which is driving the baby food and infant formula market. Modern home arrangements are changing, and most adults do not have time to take care of the home, especially cooking and cooking. Therefore, the demand for prepared or packaged foods is higher. In addition, working women, especially new mothers, prefer convenience foods for their children because it saves time.
"Growing Demand For Organic Baby Food Will Foster The Market Growth "
The growing demand for organic baby food will boost global baby food and infant formula market growth. Growing demand for organic baby food is driving the expansion of the global baby food and infant formula market. Parents consider organic food to be healthier and free from hazardous substances, which will increase sales during the forecast period. In addition, parents are more aware of the negative effects of toxic chemicals and preservatives on their babies health, they choose organic products for baby food. Baby food is believed to be free of chemicals, pesticides, preservatives, hormones and antibiotics. That is why they have received a lot of attention in recent years.
RESTRAINING FACTORS
"Short Shelf Life And Adulteration Of Baby Food And Food Hamper The Food Offered In The Market"
Shelf-life concerns are expected to hamper the growth of the market. During the forecast period, lack of proper regulatory framework will pose a challenge to the baby food and infant formula market. However, food safety concerns are hindering the growth of the breast milk substitute market. Infant formula is a sensitive food because it replaces breast milk and is included in the diet of babies for their proper development. Cases related to the adulteration of infant formula have been reported around the world. In China, a case of melamine poisoning of breast milk formulas was discovered where the milk was adulterated with the chemical, resulting in the death of six babies and the illness of thousands of babies. Thus, the safety issues of infant formula are the biggest obstacle to the growth of the market.
BABY FOOD AND INFANT FORMULA MARKET REGIONAL INSIGHTS
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"Asia Pacific to Dominate the Market due to Rising Birth Rates"
The market is primarily segmented into Europe, Latin America, Asia Pacific, North America and Middle East and Africa.
In 2022, the Asia-Pacific region accounted for the largest baby food and infant formula market share of turnover. The APAC market is primarily driven by strong demand from high birth rates in China and India, for example. In addition, domestic industry and greater reliance on imports were introduced as demand for growth, quality and higher fees increased. The presence of China, the world's largest consumer of food for babies and toddlers, supports the growth of the market. In addition, China's decision to eliminate the one-child policy and rising birth rates should boost market growth.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
The baby food and infant formula market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.
List of Market Players Profiled
- Mead Johnson (U.S.)
- Nestle (Switzerland)
- Danone (Switzerland)
- Abbott (U.S.)
- FrieslandCampina (Netharlands)
- Heinz (U.S.)
- Bellamy (Australia)
- Perrigo (U.S.)
- Arla (Denmark)
- Westland Dairy (New Zealand)
- Pinnacle (U.S.)
- Yili (China)
- Brightdairy (China)
- Wonderson (U.K.)
- Wissun (China)
- Hain Celestial (U.S.)
- Plum Organics (U.S.)
- Ausnutria Dairy Corporation (Hyproca) (Hong Kong)
INDUSTRIAL DEVELOPMENT
April 2023: The Kraft Heinz Company introduces a line of plant-based baby foods and infant formulas to provide high-quality vegan food for babies. Delicate Pasta Stars with Beans and Carrots, Potato Bake with Green Beans and Sweet Peas and Risotto with Chickpeas and Pumpkin are all part of this range.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 68090 Million in 2019 |
Market Size Value By |
US$ 110907.48 Million by 2032 |
Growth Rate |
CAGR of 3.8% from 2019 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the baby food and infant formula market expected to touch by 2032?
The global baby food and infant formula market is expected to reach USD 110907.48 million by 2032.
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What CAGR is the baby food and infant formula market expected to exhibit by 2032?
The baby food and infant formula market is expected to exhibit a CAGR of 3.8% by 2032.
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Which are the driving factors of the baby food and infant formula market?
Increase in the number of working women and growing demand for organic baby food are some of the driving factors of the baby food and infant formula market.
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What are the baby food and infant formula market segments?
The baby food and infant formula market segmentation that you should be aware of, which include, Based on type the baby food and infant formula market is classified as Standard cow milk-based formulas, Soy-based formulas, Hypoallergenic formulas, Lactose-free formulas. Based on application the baby food and infant formula market is classified as 0-6 Months, 6-12 Months, >12 Months.