Infant Formula Market Size, Share, Forecast, & Trends Analysis by Product Type (Infant Milk, Specialty Milk), Nature (Inorganic, Organic), Form (Powder, Ready-to-Feed), Distribution Channel (Supermarkets/Hypermarkets, Online)

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Infant Formula Market Size, Share, Forecast, & Trends Analysis by Product Type (Infant Milk, Specialty Milk), Nature (Inorganic, Organic), Form (Powder, Ready-to-Feed), Distribution Channel (Supermarkets/Hypermarkets, Online)-Global Forecast to 2031

According to the research report titled, 'Infant Formula Market Size, Share, Forecast, & Trends Analysis by Product Type (Infant Milk, Specialty Milk), Nature (Inorganic, Organic), Form (Powder, Ready-to-Feed), Distribution Channel (Supermarkets/Hypermarkets, Online)-Global Forecast to 2031,' the infant formula market is projected to reach $77.09 billion by 2031, at a CAGR of 9.2% during the forecast period 2024-2031. The report provides an in-depth analysis of the global infant formula market across five major regions, emphasizing the current market trends, market sizes, recent developments, and forecasts till 2031.

Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, and trends. The growth of the infant formula market is driven by the growing number of working women, rising consumer awareness regarding the importance of early nutrition for infants, increasing innovation in product development, and increasing disposable income. However, stringent regulations regarding infant formula, the risk of product contamination, and frequent product recalls may restrain market growth.

Moreover, the growing demand for organic and plant-based products and rising investment in the research & development of novel products by key players are expected to create market growth opportunities. However, the complex registration process and promotion of breastfeeding by healthcare professionals pose a significant challenge to the market's growth.

Additionally, human milk oligosaccharides (HMO)-based infant formula, clean-label products, and consumer preference for online channels are prominent trends in the infant formula market.

The key players operating in the global infant formula market are Nestle S.A. (Switzerland), Danone S.A. (France), Reckitt Benckiser Group PLC (U.K.), Abbott Laboratories (U.S.), The Kraft Heinz Company (U.S.), HiPP Gmbh & Co. Vertrieb KG (Germany), Perrigo Company plc (Ireland), Royal FrieslandCampina N.V. (Netherlands), Arla Foods Group (Denmark), Hain Celestial Group (U.S.), Mead Johnson Nutrition (U.S.), Beingmate Group (China), Bellamy's Organic (Australia), Synutra International, Inc. (U.S.), and Meiji Holdings Co. Ltd. (Japan).

Based on product type, the infant formula market is segmented into infant milk, follow-on milk, and specialty milk. In 2024, the infant milk segment is expected to account for the largest share of over 53.6% of the infant formula market. The large market share of this segment is attributed to the decreasing infant mortality rate, the only substitute for breast milk, and growing awareness about the importance of infant formula for growth and development. Infant milk is specially designed to meet the growing needs of babies under six months of age who are not breastfed or partially breastfed.

Based on nature, the infant formula market is segmented into inorganic and organic. In 2024, the inorganic segment is expected to account for the largest share of the infant formula market. The large market share of this segment is mainly attributed to the high availability of products at a lower cost. However, the organic segment is projected to register a higher CAGR during the forecast period of 2024-2031.

Based on the form, the infant formula market is segmented into powder, liquid concentrate, and ready-to-feed. In 2024, the powder segment is expected to account for the largest share of the infant formula market. The large market share of this segment is mainly attributed to the ease of storage and convenience, ease of handling, and comparatively lower costs than other forms of infant formula.

Based on distribution channel, the infant formula market is segmented into supermarkets/hypermarkets, pharmacies and specialty stores, convenience stores, e-commerce, and other distribution channels. In 2024, the supermarkets/hypermarkets segment is expected to account for the largest share of over 42.7% of the infant formula market. The large market share of this segment is attributed to the availability of a wide variety of products under one roof, a growing number of modern groceries offering high-quality products, and consumer preference for shopping offline due to the enhanced shopping experience offered by these channels. In addition, infant formula products are strategically placed in dedicated sections within supermarkets and hypermarkets. This strategic placement ensures visibility and accessibility, making it easy for parents to locate and purchase infant formula during shopping trips.

An in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights into the five major regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) and the coverage of major countries in each region. North America is slated to register the highest CAGR during the forecast period, mainly due to heightened awareness and availability of infant formula, growing demand for organic infant food products, strong growth in dual-income families, and increasing innovation and new product development. The region has been at the forefront of research and development in terms of launching novel yet effective and safe baby formula.

Key Questions Answered in the Report:

What is the current revenue generated by the infant formula market globally?
At what rate is the global demand for infant formula projected to grow over the next 5-7 years?
What are the historical market sizes and growth rates of the global infant formula market?
What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
Which segments, in terms of product type, nature, form, and distribution channel, are expected to create traction for the manufacturers in this market during the forecast period 2024-2031?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the global infant formula market?
Who are the major players in the global infant formula market? What are their specific product offerings in this market?
What are the recent strategic developments in the global infant formula market? What are the impacts of these strategic developments on the market?

Scope of the Report:

Infant Formula Market Assessment-by Product Type

Infant Milk
Follow-on Milk
Specialty Milk

Infant Formula Market Assessment-by Nature

Inorganic
Organic

Infant Formula Market Assessment-by Form

Powder
Liquid Concentrate
Ready-to-Feed

Infant Formula Market Assessment-by Distribution Channel

Supermarkets/Hypermarkets
Pharmacies and Specialty Stores
Convenience Stores
Online Channels
Other Distribution Channels

Infant Formula Market Assessment-by Geography

North America
- U.S.
- Canada
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
Middle East & Africa
- United Arab Emirates
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa

Product Code: MRFB - 1041261

1. Introduction

1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders

2. Research Methodology

2.1. Research Approach
2.2. Process of Data Collection and Validation
- 2.2.1. Secondary Research
- 2.2.2. Primary Research/Interviews with Key Opinion Leaders from the Industry
2.3. Market Sizing and Forecast
- 2.3.1. Market Size Estimation Approach
- 2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study

3. Executive Summary

3.1. Overview
3.2. Segmental Analysis
- 3.2.1. Infant Formula Market Analysis, by Product Type
- 3.2.2. Infant Formula Market Analysis, by Nature
- 3.2.3. Infant Formula Market Analysis, by Form
- 3.2.4. Infant Formula Market Analysis, by Distribution Channel
3.3. Regional Analysis
3.4. Market Competitors & Competitive Landscape

4. Market Insights

4.1. Overview
4.2. Drivers
- 4.2.1. Growing Number of Working Women
- 4.2.2. Rising Consumer Awareness Regarding the Importance of Early Nutrition for Infants
- 4.2.3. Increasing Innovation in Product Development
- 4.2.4. Increasing Disposable Income
4.3. Restraints
- 4.3.1. Stringent Regulations Regarding Infant Formula
- 4.3.2 Risk of Product Contamination and Frequent Product Recall
4.4. Opportunities
- 4.4.1. Rising Demand for Organic and Plant-based Products
- 4.4.2. Rising Investment in the Research & Development of Novel Products by the Key Players
4.5. Key Trends
- 4.5.1. HMO-based Infant Formula
- 4.5.2. Clean-label Products
- 4.5.3. Shifting Consumer Preferences for Online Channels
4.6. Challenges
- 4.6.1. Complex Registration Process
- 4.6.2. Promotion of Breastfeeding by Healthcare Professionals
4.7. Porter's Five Forces Analysis
- 4.7.1. Bargaining Power of Suppliers
- 4.7.2. Bargaining Power of Buyers
- 4.7.3. Threat of Substitutes
- 4.7.4. Threat of New Entrants
- 4.7.5. Degree of Competition
4.8. Pricing Analysis

5. Infant Formula Market Assessment-by Product Type

5.1. Overview
5.2. Infant Milk
5.3. Follow-on Milk
5.4. Specialty Milk

6. Infant Formula Market Assessment-by Nature

6.1. Overview
6.2. Inorganic
6.3. Organic

7. Infant Formula Market Assessment-by Form

7.1. Overview
7.2. Powder
7.3. Liquid Concentrate
7.4. Ready-to-Feed

8. Infant Formula Market Assessment-by Distribution Channel

8.1. Overview
8.2. Supermarkets/Hypermarkets
8.3. Pharmacies and Specialty Stores
8.4. Convenience Stores
8.5. E-commerce
8.6. Other Distribution Channels

9. Infant Formula Market Assessment-by Geography

9.1. Overview
9.2. North America
- 9.2.1 U.S.
- 9.2.2. Canada
9.3. Europe
- 9.3.1. Germany
- 9.3.2. France
- 9.3.3. U.K.
- 9.3.4. Italy
- 9.3.5. Spain
- 9.3.6. Netherlands
- 9.3.7. Rest of Europe
9.4. Asia-Pacific
- 9.4.1. China
- 9.4.2. India
- 9.4.3. Japan
- 9.4.4. Australia
- 9.4.5. Rest of Asia-Pacific
9.5. Latin America
- 9.5.1. Brazil
- 9.5.2. Mexico
- 9.5.3. Argentina
- 9.5.4. Rest of Latin America
9.6. Middle East & Africa
- 9.6.1. United Arab Emirates
- 9.6.2. South Africa
- 9.6.3. Saudi Arabia
- 9.6.4. Rest of Middle East & Africa

10. Competition Analysis

10.1. Overview
10.2. Key Growth Strategies
10.3. Competitive Benchmarking
10.4. Competitive Dashboard
- 10.4.1. Industry Leaders
- 10.4.2. Market Differentiators
- 10.4.3. Vanguards
- 10.4.4. Emerging Companies

11. Company Profiles

11.1. Nestle S.A.
11.2. Danone S.A.
11.3. Reckitt Benckiser Group PLC
11.4. Abbott Laboratories
11.5. The Kraft Heinz Company
11.6. HiPP Gmbh & Co. Vertrieb KG
11.7. Perrigo Company plc
11.8. Royal FrieslandCampina N.V.
11.9. Arla Foods Group
11.10. Hain Celestial Group
11.11. Mead Johnson Nutrition
11.12. Beingmate Group
11.13. Bellamy's Organic
11.14. Synutra International, Inc.
11.15. Meiji Holdings Co. Ltd.

(Note: SWOT Analysis of the Top 5 Companies Will Be Provided)

12. Appendix

12.1. Available Customization
12.2. Related Reports