Cow Milk Infant Formula Market Size, Share, Growth, and Industry Growth by Type (Regular Infant Formula and Specialty Infant Formula), By Application (Infant Formula, Follow-On Formula, and Growing-Up Formula), Regional Forecast To 2031

Updated On: 08 April 2024

Cow Milk Infant Formula Market REPORT OVERVIEW

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The global cow milk infant formula market size was USD 21490 million in 2021 and projected to touch USD 29477.99 million by 2031, exhibiting a CAGR of 3.2% during the forecast period.

The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Cow milk infant formula is made of cow’s milk gets altered to resemble to breastmilk. It is specially formulated milk that is a substitute for mother’s milk. The formula has a balance of nutrients that is made for babies for them to digest the formula easily. Due to reasons such as problem in digestion of normal cow’s milk compared to baby formula or breastmilk. Only cow’s milk doesn’t contain enough nutrients that babies under one-year-old need. They have added nutrition that is   

The growing demand for cow milk infant formula is attributed to various advantages it offers to babies. Increased usage of such infant formula is due to growth in education and consumer’s inclination to the convenience products which is expected to facilitate growth of the market. The rise is due to increasing use of bottle-feeding which is anticipated to propel product demand. Convenience for mothers who are not able to produce milk through natural process is expected to drive the market growth.

COVID-19 Impact: Halt on Production to Hamper Market Growth

The effects of the COVID-19 pandemic are already being felt on a global level, the global cow milk infant formula market was significantly influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. With many restrictions in the pandemic, different types of markets were negatively impacted. Production of infant formulas was halted due to social distancing norms. Reduction in consumption and disruptions in supply chains affected the demand for infant formulas. Out-of-home consumption was decreased due to shutting down of brick and mortar stores owing to the strict government rules and regulations. But, at-home consumption was increased due to increase in online sales of the product. E-commerce platforms helped in maintaining demand and helped in demand and supply of the product.

LATEST TRENDS

"New Product Launches to Enhance Market Growth"

Growing new product launches in cow milk infant formula is estimated to expand the growth of the global cow milk infant formula market. Key players are highly investing and collaborating with major retail stores to expand their product reach. Manufacturers have been adding new features in the products to garb consumers’ attention. They have been adding essential nutrients that are mandatory for the baby’ health. This is also expected to create convenience for mothers which is anticipated to drive the market growth. Such increasing and new innovations and new product launches are anticipated to facilitate growth and pose opportunities for the market.

Cow Milk Infant Formula Market SEGMENTATION

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• By Type

Based on type; the market is divided into regular infant formula and specialty infant formula.

• By Application

Based on application; the market is divided into follow-up formula and growing-up formula.   

DRIVING FACTORS

"Development of Breastmilk Substitutes to Extend Product Demand"

The global cow milk infant formula market growth is anticipated to augment owing to developments in breastmilk substitutes. Various companies have been developing alternatives such as cow-based, plant-based, soy-based, and protein hydrolysate. Such new formulas have seen reduction in protein quantity and enhancement of quality of infant formulas. This is done to reduce obesity in infants and attract consumers by making the infant formulas easy to digest and nutritional for their brain. Such developments to make alternatives for breastmilk by manufacturers is anticipated to drive the market growth.     

"Demand for Product in Urban Cities to Propel Market Progress"

Mounting demand for cow milk infant formula is growing owing to the demand from metropolitan cities. With busy work schedules of working parent, they find it difficult to provide required nutrition for their babies. Cow milk infant formula make good substitutes for mother’s milk. It is reliable to provide convenience for babies and mothers. Such growing demand from metropolitan cities is anticipated to fuel the demand in the cow milk infant formula market.   

RESTRAINING FACTORS

"Low Iron Content of the Product to Hamper Market Growth"

There are a number of factors that can push the growth of the cow milk infant formula market. Restraining factors such as cow-based infant formula is low on iron nutrition. Low iron in cow’s milk makes it difficult to obtain iron content for the babies. Iron is required for an infant’s overall growth. Therefore, such factor limits and restricts cow milk infant formula market growth.

Cow Milk Infant Formula Market REGIONAL INSIGHTS

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"North America to Lead Market Owing to High Consumption of Infant Formulas"

North America holds the largest part of the global cow milk infant formula market due to high number of birth rates and high consumption of infant formulas. Growth in female employment who rejoin their work post-childbirth is one the major driving factors for the market. Increasing awareness amongst parents regarding the nutritional content of infant formulas is anticipated to create demand for the product. Demand amongst working parent population of the region is further expected to facilitate market growth. In addition, R&D activities in developing new formulas using innovative technologies is expected to drive the market for the region.

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Mead Johnson (U.S.)
• Nestle (Switzerland)
• Danone (France)
• Abbott (U.S.)
• FrieslandCampina (Netherlands)
• Heinz (U.S.)
• Bellamy (Australia)
• Topfer (Germany)
• HiPP (Germany)
• Perrigo (Ireland)
• Arla (Denmark)
• Holle (U.K.)
• Fonterra (New Zealand)
• Westland Dairy (New Zealand)
• Pinnacle (Australia)
• Meiji (Japan)
• Yili (China)
• Biostime (Hong Kong)
• Yashili (New Zealand)
• Feihe (China)
• Bright Dairy (China)
• Beingmate (China)
• Wonderson (Brazil)
• Synutra (U.S.)
• Wissun (China)

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.