Baby Formula Market Share to Reach USD 109.10 Billion by 2027 | Increased Consumption of Baby and Infant Food Products to Propel Growth in the Asia Pacific and North America

Key Players Covered in the Baby Formula Market Report are Abbott (Chicago, United States), Yili Group (Hohhot, China), Nestle S.A. (Vevey, Switzerland), Perrigo Company plc (Michigan, United States), Reckitt Benckiser Group plc. (Slough, United Kingdom), Royal FrieslandCampina N.V. (Amersfoot, Netherlands), Danone SA (Paris, France) and more


Pune, India, June 21, 2022 (GLOBE NEWSWIRE) -- The global baby formula market size stood at USD 50.46 billion in 2019. It is projected to reach USD 109.10 billion by 2027 at a CAGR of 10.6% during the forecast period. The market thrives due to increased awareness about food security and high nutritional content in infant formula. Fortune Business Insights™ stated this in a report titled, “Baby Formula Market, 2020-2027."

COVID-19 Impact-

Growing Concerns about Infection Could Hindered Opportunities for Market Players

The mixed impact of COVID-19 was observed during the initial phase of the outbreak. Owing to the huge demand-supply gap, the global trade of the products was disrupted significantly, leading to decreased market growth. Meanwhile, due to the high risk of infection, parents have become more concerned about their babies' health, increasing the demand for the product. To increase the global presence, various companies started investing in digitalization and partnership during the pandemic to increase their market value.

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List of the Companies Profiled in the Baby Formula Market:

  • Abbott (Chicago, United States)
  • Yili Group (Hohhot, China)
  • Nestle S.A. (Vevey, Switzerland)
  • Perrigo Company plc (Michigan, United States)
  • Reckitt Benckiser Group plc. (Slough, United Kingdom)
  • Royal FrieslandCampina N.V. (Amersfoot, Netherlands)
  • Danone SA (Paris, France)


Growing Environmental Awareness Spurs Absorption Chillers Segment

On the basis of type, the market is classified into follow-on-milk, infant milk, and others. The follow-on-milk segment will dominate due to its characteristics of upholding the low iron levels in the infants to maintain their healthy diet.

Growing Trend for Online Shopping Surges demand in Specialty Stores Segment

In terms of Distribution channel, the market is categorized into specialty stores, hypermarkets/supermarkets, pharmacy/medical stores and others. The supermarkets/hypermarkets segment will gain traction due to the growing trend for online shopping, which gives consumers a chance to buy necessary products under one roof.

Baby Formula Market Report Scope & Segmentation:

Report AttributeDetails
Market size value in 2019USD 50.46 billion
Revenue forecast in 2027USD 109.10 billion
Growth RateCAGR of almost 10.6% 2020-2027
Base Year2019
Historic Years2016 - 2018
Forecast Years2020- 2027
Segments CoveredBy Type, By Flavor, By Application, By Packaging, By Distribution Channel and By Geography
Forecast UnitsValue (USD Billion), and Volume (Units)
Quantitative UnitsRevenue in USD million/billion and CAGR from 2021 to 2028
Regions CoveredNorth America, Europe, Asia Pacific, South America, and Middle East & Africa, and Rest of World
Countries CoveredUnites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies CoveredAbbott (Chicago, United States), Yili Group (Hohhot, China), Nestle S.A. (Vevey, Switzerland), Perrigo Company plc (Michigan, United States), Reckitt Benckiser Group plc. (Slough, United Kingdom), Royal FrieslandCampina N.V. (Amersfoot, Netherlands), Danone SA (Paris, France) and more
Report CoverageMarket growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization ScopeAvail customized purchase options to meet your exact research needs.

Report Coverage

The report provides insights into the regional analysis covering different regions, contributing to the market's growth. The report includes qualitative and quantitative analysis of several factors, such as the key drivers and restraints that will impact the market. Adopting strategies by major players to introduce partnerships, collaboration, and new products will contribute to the market's growth.

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Drivers and Restraints

Increased Investment in the R&D of Innovative Products to Stimulate Product Demand

The product's expansion is driven by the modernity and progression of the consumer’s lifestyle. In addition, the ease of the product, in conjunction with improvements to its overall composition, is driving demand among parents. Another reason that causes the baby formula market growth is the increased investment in the R&D of innovative products. Meanwhile, the growth of the new products is expected to be stifled by strict laws and regulations and a complicated process for registering new products.

Regional Insights

Increased Consumption of Baby and Infant Food Products to Propel Growth in the Asia Pacific and North America

Stakeholders have projected remarkable growth in countries such as Japan, India, and China due to high living standards, busy lifestyles, and rising demand for quality and premium products. Another factor that drives the product market is the increased consumption of baby and infant food products across the region.    

The Middle East & Africa is expected to showcase a significant rise due to growth in female participation in the labor force. Moreover, increased familiarity with the western lifestyle will likely impact the baby formula market share.

Competitive Landscape

Major Players Invests in New Products to Secure Their Brand Values in Global Market

Leading companies will likely invest in R&D activities, technological advancements, and product rollouts to expand their geographical presence. With soaring investments in innovation and advanced design, stakeholders could inject funds into mergers and acquisitions.

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Industry Developments:

February 2020: Else Nutrition launched the 100% organic, plant-based formula to balance regular nutritional value among toddlers.

January 2019: Arla Foods Ingredients launched easy digesting whey protein baby food for optimized comfort.

Market Segmentation

By Type

  • Infant Milk
  • Follow-on-Milk
  • Others

By Distribution Channel

  • Hypermarkets/Supermarkets
  • Pharmacy/Medical Stores
  • Specialty Stores
  • Others

By Geography

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Infant Food Ingredients Market Size, Share and Forecast to 2029

Gluten Free Food Market Size and Trends Forecast to 2029

Hydrolyzed Whey Protein Market Size, Share & Industry Analysis Forecast to 2029

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