Infant Formula Market

2019 Analysis and Review of Infant Formula Market by Product - Starting Milk Formula, Follow-On Milk Formula, Toddler’s Milk Formula, and Special Milk Formula for 2019 – 2026

  • 2019-12-19
  • REP-GB-838
  • 92 Tables
  • 122 Figures
  • 200 pages
  • PDF PPT EXCEL
Infant Formula Market
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Infant Formula Market to Grow 2X Between 2019 and 2026

Taking into consideration the increase in parents’ demand for infant formula with specific nutritional properties, leading manufacturers are continually experimenting to improve their products. In 2018, infant formulas of worth nearly US$ 30 Bn were sold worldwide, and between 2019 and 2026, the market is expected to increase at an impressive double-digit CAGR. Increasing research & development activities directed at enhancing the nutritional offerings of infant formulas, coupled with growing infant health awareness among parents, will prominently drive sales of infant formula through 2026.

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Key Factors Shaping the Infant Formula Market

Infant Formula Market - The Key Market for Dry Whey Products

Different protein compositions between human breast milk and cow’s milk, in terms of whey-to-casein ratio, are added to infant formula products by the manufactures. The key whey ingredients used are demineralized whey powder, whey protein hydrolyzate, and whey protein concentrate, which is mostly used in special infant formula. This use of whey in infant formula is anticipated to grow in the coming years to meet the specific need of the consumers.

Packaging Innovations to Benefit the Market

The DMK Group (Germany’s largest dairy cooperative) has surveyed mothers across seven countries about infant formula packaging that offers better safety, the convenience of use, protection against bacteria, also a perfect dosing system. These improvements brought about the manufacturers in packaging impels an increasing number of mothers to buy the infant formula. Besides this, pouches are used as packaging for infant formula which is convenient for baby self-feed. These pouches also act as a more attractive proposition for customers looking for innovative and convenient infant nutrition products.

global infant formula market share by product 2019

Infant Formula Market Structure Analysis

  • The global infant formula market represents a fairly combined competition landscape. Leading players primarily focus on research and development to introduce new products. Furthermore, these manufacturers maintain strong distribution partnerships to expand their global footprint.
    • Some of the key players in the infant formula market are Nestlé S.A., Abbott Nutrition, Groupe Danone, Mead Johnson Nutrition, The Kraft Heinz Company, Beingmate Baby & Child Food Co. Ltd., Meiji Holdings Co. Ltd, Synutra International, Inc., Pfizer Inc. and Friesland Campina, and many other small players.
  • For strengthening their foothold in target markets, infant formula manufacturers will continue to trust in a number of strategies such as product development, mergers and acquisitions, research and development, and innovation.
  • Portfolio expansion is also recognized as one of the key strategies adopted by manufacturers of infant formula to cater to different segments of consumers on the basis of age group.
  • The organic baby products market is growing at a fast pace due to increasing concern of mothers towards their baby’s health.
  • Rapid urbanization around the world has encouraged the adoption of convenience-oriented lifestyle and is thus considered a chief driving factor of the infant formula market.
  • Value addition by players in the category of ingredients and technology has improved the quality and function of infant formula. It has also enabled the companies to acquire a larger section of consumers. Advancement in the lipid technology by the manufactures, add predominant energy source for infants and play important role in the growth of the infants.

Nearly Half the Revenue Share is Gobbled by Starting Milk Formula

A plethora of infant formula options are available on market today, which is mainly attributed to a number of new players entering the infant formula market. To stand out from the competition, leading players in the market are innovating towards improvement of infant health at different stages of growth. Among various types of infant formula products, the demand for starting milk formula remains significant. Global sales of starting milk formula currently accounts for more than 48% share of the market value.

APEJ Captures over 50% Market Share

While the consumer perception about the importance of infant formula in toddlers’ health remains significantly positive in developed regions, the market scenario is even more positive in developing economies. Asia Pacific excluding Japan (APEJ) holds nearly half the revenue share in the infant formula market, surpassing the collective share of North America and the Europe Union. Furthermore, with the increasing population in fast developing Asian countries such as China and India, the market for infant formula will witness incremental growth, particularly in APEJ.

* This data is only a representation. Actual data may vary and will be available in report.

APEJ Captures over 50% Market Share
APEJ Captures over 50% Market Share
APEJ Captures over 50% Market Share
APEJ Captures over 50% Market Share
  • 2014
  • 2018
  • 2022
  • 2029
  • Arrow

Organic Infant Formula Gaining Traction

Growing awareness about factors influencing infants’ health and the importance of micronutrients in promoting growth is triggering market players to introducing better products. Parents are becoming more critical about their purchasing decisions vis-à-vis infant formula, with increasing inquisitiveness about the use of various ingredients in these products. In order to sync with the rise in parents’ consciousness while choosing an infant formula, leading market players are introducing organic products, manufactured exclusively using organic ingredients. Global brands are zooming in their focus on innovative ingredients to introduce specific health benefits in infant formula.

Starting milk formula will remain top selling

Special milk formula growing lucrative

 

Majority of sales continue via pharmacy stores

Online sales to witness significant growth

 

How Growth will Unfold

China and India are commonly perceived as the biggest markets for infant formula products. However, the former accounts for nearly 90% revenue share in APEJ market. Post the 2008 tainted-milk scandal in China, a large number of Chinese parents began to spurn local products, trusting foreign brands of infant formula. However, Chinese government is revising policies to restructure the market within the country, mainly to curb the imports. With an aim to boost local production of infant formula, around half of the country’s demand will be catered to at a domestic level.

Infant Formula Market Value Share - by Region

* This data is only a representation. Actual data may vary and will be available in report.

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Overview

Infant Formula Market Analysis 2019-2026

A recent market study published by Future Market Insights (FMI) on the global infant formula market offers global industry analysis for 2014-2018 & forecast for 2019-2026. The study also offers a comprehensive assessment of the prevailing market dynamics. After conducting a thorough research on the historical and the most recent growth parameters of the infant formula market, the refined forecasts on the market are obtained with maximum precision.

Infant Formula Market Taxonomy

The global infant formula market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

Product

  • Starting Milk Formula
  • Follow-on Milk Formula
  • Toddlers Milk Formula
  • Special Milk Formula

Distribution Channel  

  • Specialty Outlets
  • Supermarkets
  • Online Stores
  • Pharmacy Stores
  • Others

Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • MEA

What's Included

The report commences with the global economic outlook that depicts the world GDP in the key countries and trade penetration of various distribution channels in these countries. The effect of these parameters on the infant formula market is analyzed.

The executive summary of the infant formula market includes the market country analysis, proprietary wheel of fortune, demand-side and supply-side trends, opportunity assessment and the recommendations on the global infant formula market.

Readers can find the detailed segmentation and definition of the infant formula market in this chapter. This section also highlights the inclusions and exclusions, to help readers understand the scope of the report on the infant formula market.

The associated industry assessment of the infant formula market is carried out in this section. It therefore includes analyses on market trends, market dynamics, trade analysis, and supply and value chain. A consumer’s perception on infant formula is explained in the sections dedicated to segments consumer survey analysis and social media sentiment analysis of this chapter. The chapter also includes price point assessment by raw material, the average price of various raw materials that go into infant formula in different regions across the globe, and forecast till 2026. Factors influencing the prices of the infant formula are also explained in this section.

This chapter explains how the infant formula market will grow across the globe in various segments. Based on product, the infant formula market is segmented into starting milk formula, follow-on milk formula, toddler’s milk formula, and special milk formula. Based on distribution channel, the Infant formula market is segmented into specialty outlets, supermarket, online stores, pharmacy stores and others. Based on region, the infant formula market is segmented into North America, Latin America, Western Europe, Eastern Europe, APEJ, Middle East & Africa, and Japan.

This chapter includes a detailed analysis of the growth exhibited by the North America infant formula market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find information on regional trends, regulations, and growth exhibited by the market across various end-use segments and countries in North America.

Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting the growth of the Latin America Infant Formula market. This chapter also includes forecasts on the growth prospects of the infant formula market in leading LATAM countries such as Brazil, Mexico, Chile, Peru, Argentina and Rest of Latin America.

Information on the factors driving growth of the infant formula market in various countries such as Germany, the U.K, Italy, France, Spain, BENELUX, Nordic and the Rest of Western Europe is included in this chapter.

Information on factors boosting the infant formula market in various countries such as Russia, Poland and the Rest of Eastern Europe is included in this chapter.

Greater China, India, ASEAN, Australia & New Zealand, and Rest of APEJ are the leading countries in the APEJ infant formula market in this chapter. Readers can find detailed information about the factors encouraging growth in the APEJ infant formula market during the period 2019 - 2026.

This chapter includes a detailed analysis of the factors propelling growth in the East Asia infant formula market. Readers can also find information on the Japan infant formula market trends, regulations, and growth.

This chapter provides information about the growth trajectory of the infant formula market across the MEA, including GCC Countries, South Africa, Turkey, and the Rest of MEA, during the forecast period 2019 - 2026.

In this chapter, readers can find detailed information about tier analysis and market concentration of key players in the infant formula market along with their market presence analysis by region and product portfolio. Also, readers can find a comprehensive list of all leading stakeholders in the infant formula market, along with detailed information about each company, which includes the company overview, revenue shares, strategic overview, and recent company developments. Some of the market players profiled in this report are Nestlé S.A., Groupe Danone, Abbott Nutrition, Mead Johnson Nutrition, The Kraft Heinz Company, Meiji Holdings Co. Ltd, Beingmate Baby & Child Food Co. Ltd., Synutra International, Inc., Pfizer Inc. and FrieslandCampina, and many others.

This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the Infant formula market report.

This chapter helps readers understand the research methodology followed to reach various conclusions and derive important qualitative and quantitative insights into the infant formula market.

How the research was conducted?

Primary Research

  • C - Level Executives
  • Marketing Directors
  • Sales Heads
  • Production Managers
  • Distributors Heads
  • Sales Executives
  • Product Manufacturers
  • Distributors
  • Traders 
  • Industry Experts
  • End Users
  • Current Market Dynamics and Challenges
  • Market Characteristics
  • Market Performance and Growth Quadrants
  • Competition Structure and Market Structure
  • Strategic Growth Initiatives
  • Near-term and Long-term Market Growth Prospects
  • Market Segment Splits and Authenticity
  • Opinions on Market Projections and Validity Of Assumptions

Secondary Research

  • Industry Publications
    • Industrial Week
    • Industrial Product Review
  • Industrial Magazine
  • Industry Associations
    • Beverages Industry 
  • Company Press Releases
  • Annual Reports and Investor Presentations
  • Research Papers
  • Government Websites and Publications
  • Trade Websites

Primary Interview Splits

Primary Interview Splits infant formula market designations

Primary Interview Splits infant formula market stakeholders

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Harish Tiwari

Global Head - Business Development

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