The global follow on formula milk market is expected to exhibit growth at an impressive CAGR of 8% to 9% during the forecast period from 2022 to 2032. Increasing research and development (R&D) activities for the development of more nutritious and protein-packed infant nutrition supplements by key companies is estimated to accelerate the demand for follow on formula milk in the global market.
| Report Attribute | Details |
| Follow On Formula Milk Market Projected Growth Rate (2022-2032) | 8% to 9% CAGR |
Follow on formula milk is an alternative to breast milk containing almost similar amount of nutrients such as vitamins, minerals, proteins, fats, carbohydrates, prebiotic, linoleic acid, and others. It is used to feed infants between the ages of 6 months to 12 months along with suitable complementary foods as part of a mixed weaning diet.
In the past couple of years, there is a swift rise in pregnancy and baby birth across the world, due to the increasing advancements in medical technologies, creating strong demand for infant nutritional supplements.
For instance, according to a study by the Centers for Disease Control and Prevention, approximately 3.61 Mn babies were reported to be born across the U.S., exhibiting a birth rate of 11.00 per 1,000 people in the year 2020. As follow on formula milk is extensively used for feeding baby over 6 months of age to provide required nutrition, rising number of baby births are estimated to favor the growth in the global market.
In addition to this, increasing burden of conditions such as lactation insufficiency and low milk supply syndrome among the mothers, due to the hormonal changes and hereditary reasons, is accelerating the demand for baby nutrition products such as follow on formula milk.
Breast milk is of great importance for the proper development of a baby’s body and brain. Hence, governments and regulatory organizations are encouraging mothers to only breastfeed their babies until 1 year of age, which is, hindering the demand for follow on formula milk in the market.
Also, growing awareness regarding the high risk of complications and ailments such as allergies, respiratory infections, cognitive development issues, and obesity in babies, due to the use of breast milk alternatives, is expected to restrain the sales of follow on formula milk in the market.
As per Future Market Insights, North America is estimated to account for the lion’s share in the global follow on formula milk market from 2022 to 2032.
Leading manufacturers in the market are increasingly focusing on introducing novel infant nutrition products with new value-added ingredients to meet the growing demand due to increasing number of baby births across the countries such as the U.S. and Canada.
For instance, in 2020, Abbott, an American multinational health & baby care company announced introducing an innovative follow on infant formula, Similac Pro-Advance® with Oligosaccharide† and 2'-Fucosyllactose to strengthen the immune systems of the babies in Canada. A slew of such product launches is expected to drive the sales in the North America market.
As per FMI, Europe is projected to exhibit growth at a robust CAGR in the global follow on formula milk market during the forecast period 2022-2032.
A substantial rise in working women is being witnessed across Europe, owing to the increasing availability of similar opportunities for men and women. For instance, according to research by the Catalyst Organization, more than 72.7% (over 2/3rd) of the women aged between 16 to 64 years were reported to the employed across the U.K. in 2020.
Due to this rise in working women including mothers, the demand for infant nutrition supplements such as follow on formula milk is rapidly increasing to feed the babies and provide essential nutrients in absence of the mother. This is anticipated to bolster the growth in the Europe market.
Some of the leading players in the follow on formula milk market are The Hain Celestial Group, Vertrieb KG, Abbott Laboratories, Reckitt Benckiser, Campbell Soups, HiPP GmbH & Co., Nestle S.A., Dana Dairy Group Ltd, Danone SA, Gerber Products Company, Arla Foods Amba, D-Signstore, and others.
The market is highly competitive, owing to the increasing emphasis on the introduction of new infant formals and growing adoption of strategies such as production capacity expansion by key companies.
| Report Attribute | Details |
| Growth Rate | CAGR of 8% to 9% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Countries Covered |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
FMI projects the demand for aloe follow on formula milk to expand at 8% to 9% value CAGR over the forecast period 2022-2032
The follow on formula milk market is dominated by North America, and this trend is projected to continue for the assessment period.
The Hain Celestial Group, Vertrieb KG, Abbott Laboratories, Reckitt Benckiser, Campbell Soups, HiPP GmbH & Co., Nestle S.A., Dana Dairy Group Ltd, Danone SA, Gerber Products Company, Arla Foods Amba, D-Signstore, and others are some key follow on formula milk manufacturer.
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