Infant Formula Market - Forecasts from 2019 to 2024

Infant formula market is projected to grow at a CAGR of 5.48% during the forecast period, reaching a total market size of US$57.685 billion in 2024 from US$41.886 billion in 2018. Infant formula is a substitute for breast milk consisting of various nutrients, such as carbohydrates, fats, proteins, vitamins, minerals, and others. It helps in the overall development of the baby. The growing female working population is the driving factor for the growth of the market. It seems to be a good alternative for breast milk as it contains similar nutrients as compared to breast milk thereby positively impacting the growth of the infant formula market. Changing lifestyle coupled with increasing disposable income is also boosting the growth of the market. However, concerns related to the health of the baby, safety of the formula, and physician’s advice to give only breast milk to infants are restraining the market growth. Moreover, concerns related to the growing population and increasing awareness programs from world health organizations and others to lower the global birth rate are also likely to hamper the growth of the infant formula market. Geographically, the North America region is expected to have a significant market share owing to the presence of key players, high disposable income, and high working women population in the region. Asia Pacific regional market is expected to grow at a rapid pace on account of the growing female working population in the region.

The “Infant formula Market– Forecasts from 2019 to 2024” is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by formula type, form, distribution channel, and geography.

The infant formula market segmented based on formula type, form, distribution channel, and geography. By formula type, the market has been segmented into cow’s milk protein-based, soy-based, and protein hydrolysate. By form, the market has been segmented into powdered, concentrated liquid, and ready-to-use. By distribution channel, the market has been segmented into offline and online.

Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.

Major players in the infant formula market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the infant formula market.

Segmentation

By Formula Type

• Cow’s Milk Protein-Based
• Soy-Based
• Protein Hydrolysate

By Form

• Powdered
• Concentrated Liquid
• Ready-to-Use

By Distribution Channel

• Offline
• Online

By Geography

North America

• USA
• Canada
• Mexico

South America

• Brazil
• Argentina
• Others

Europe

• Germany
• France
• United Kingdom
• Spain
• Others

Middle East and Africa

• Israel
• Saudi Arabia
• Others

Asia Pacific

• China
• Japan
• South Korea
• India
• Others