Infant Milk Formula Market Report 2025

The infant milk formula market size has grown rapidly in recent years. It will grow from $56.07 billion in 2024 to $62.36 billion in 2025 at a compound annual growth rate (CAGR) of 11.2%. Growth during the historic period can be attributed to greater awareness of infant nutrition, an increasing number of working mothers, the effects of urbanization and shifting lifestyles, higher healthcare spending, and growing demand for convenient infant feeding solutions.

The infant milk formula market size is expected to see rapid growth in the next few years. It will grow to $94.83 billion in 2029 at a compound annual growth rate (CAGR) of 11%. Growth in the forecast period is expected to be driven by rising demand in emerging markets, increasing penetration of e-commerce platforms, a growing emphasis on organic and clean-label products, the expansion of the middle-class population, and ongoing innovations in formula composition. Key trends anticipated during this period include advancements in probiotic and prebiotic formulations, development of advanced packaging to enhance shelf life, innovation in plant-based infant formulas, the use of AI in product development, and progress in sustainable and eco-friendly manufacturing practices.

The growth of the infant milk formula market is being driven by the increasing number of working mothers. These are women who participate in paid employment while also raising children. The rise in working mothers is supported by improvements in workplace flexibility, which help them manage both career and family responsibilities. Infant milk formula offers a practical alternative to breastfeeding, allowing mothers to provide consistent nutrition for their infants while fulfilling work commitments. According to The Center for American Progress Action Fund, as of December 2022, there were 993,000 more mothers in the workforce compared to the same period the previous year. Additionally, employment levels for mothers with children under five had recovered to 99.2 percent of pre-pandemic levels.

Companies in the infant milk formula market are introducing science-based growing-up milk products designed to support early childhood nutrition. These formulas are developed to resemble the benefits of breast milk and include clinically researched ingredients like HMOs, probiotics, and essential nutrients. In November 2023, Nestlé launched its first growing-up milk formula containing Human Milk Oligosaccharides (HMOs) in mainland China. This product, part of the Wyeth illuma brand, features components such as 2’-FL and LNnT, which are linked to improved gut health, immune function, and cognitive development in infants. The launch reflects Nestlé’s focus on advancing nutritional science for early childhood.

In July 2023, Bobbie, an infant formula company based in the United States, acquired Nature’s One to expand its manufacturing capabilities and product range. This acquisition allows Bobbie to strengthen its control over production quality and broaden its offerings in the organic and specialty infant formula space. Nature’s One is known for its commitment to organic infant nutrition in the U.S. market.

Major players in the infant milk formula market are Nestlé S.A., Pfizer Inc., Abbott Laboratories, Danone S.A., The Kraft Heinz Company, Arla Foods amba, Reckitt Benckiser Group plc, FrieslandCampina N.V., Meiji Holdings Co. Ltd., Perrigo Company plc, Morinaga Milk Industry Co. Ltd., Mead Johnson & Company LLC, The Hain Celestial Group Inc., Hero Group AG, Ausnutria Dairy Corporation Ltd., Biostime Inc., HiPP GmbH & Co. Vertrieb KG, Beingmate Baby & Child Food Co. Ltd., Synutra International Inc., Bellamy's Organic Pty Ltd.

Europe was the largest region in the infant milk formula market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in infant milk formula report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the infant milk formula market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sharp hike in U.S. tariffs and the associated trade disputes in spring 2025 are notably impacting the aerospace and defense sector by raising costs for titanium, carbon fiber composites, and avionics materials largely sourced from global suppliers. Defense contractors, locked into fixed-price government contracts, absorb these added costs, while commercial aerospace firms face airline pushback on higher aircraft prices. Delays in component shipments due to customs bottlenecks further disrupt tight production schedules for jets and satellites. The industry is responding by stockpiling critical materials, seeking waivers for defense-related imports, and collaborating with allied nations to diversify supply chain.

Infant milk formula is a specially formulated food product intended to replace human breast milk, delivering vital nutrients to support the growth and development of infants under 12 months old when breastfeeding is unavailable or insufficient. Typically derived from cow’s milk that has been modified to meet infant nutritional needs, it is available in both powdered and ready-to-feed liquid forms to promote healthy development during a child’s first year.

The primary product categories include starting milk formula, follow-on milk formula, and toddler milk formula. Starting milk formula is specifically designed for infants from birth to six months, providing key nutrients when breastfeeding is not an option. Target consumer groups include premature infants, lactose-intolerant babies, infants with allergies, twins or multiples, low birth weight babies, and the general infant population. Key distribution channels include specialty stores, supermarkets, online retailers, pharmacies or drugstores, and other retail outlets.

The infant milk formula market research report is one of a series of new reports that provides infant milk formula market statistics, including the infant milk formula industry global market size, regional shares, competitors with the infant milk formula market share, detailed infant milk formula market segments, market trends, and opportunities, and any further data you may need to thrive in the infant milk formula industry. This infant milk formula market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The infant milk formula market consists of sales of cow's milk-based formula, soy-based formula, and hydrolyzed formula. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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