Baby Food and Infant formula Market Size was valued at USD 25.1 billion in 2023. The baby food and infant formula industry is projected to grow from USD 27.0 Billion in 2024 to USD 42.4 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.78% during the forecast period (2024 - 2032). Rise in the number of working mothers and increased spending on newborn health are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The growing demand for organic baby food items will fuel the worldwide baby food and infant formula market expansion. Organic baby foods are perceived by parents to be healthier and free of dangerous substances, resulting in increased sales during the projected period. Furthermore, as parents become more aware of the negative impacts of toxic chemicals and preservatives on their babies' health, they are opting for organic baby food items. Chemicals, pesticides, preservatives, hormones, and antibiotics are not thought to be present in organic infant food. As a result, they have received a great deal of attention in recent years.
The baby food and infant formula market segmentation, based on type, includes infant formula and baby food. The infant formula segment gradually increased its market share. Baby formula contains vitamins, minerals, carbs, and vegetable oils and is prepared from modified cow milk. Casein is the most abundant protein found in cow's milk. Whey protein, on the other hand, is the major protein in breast milk. As a result, many infant formula formulas have been modified to include whey protein. Despite the addition of whey protein to infant formula products, they differ from breast milk due to differences in amino acid and protein composition. They do, however, provide the minerals required for baby growth.
Figure 2: Baby Food and Infant formula Market, by type, 2022 & 2030 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The baby food and infant formula market segmentation, based on packaging type, includes bottles, cans, pouches and others. The baby food market's pouches segment is both the largest and most competitive. Regarding the category of bottled goods,
The baby food and infant formula market data has been bifurcated by distribution channel into store based and non-store based. The largest portion of the baby food market is made up of store based. Baby packaged food products are popular in hypermarkets all over the world. Due to one-click purchases and easy access to online stores, this market is predicted to move away from hypermarkets. The baby food market is driven by the large volume and effective merchandising of baby food products in numerous supermarkets and convenience stores.
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific baby food market held the highest share, and infant formula is predicted to be the fastest expanding market in the near future. Increasing birth rates, rising female labor force participation, rising disposable income, increased public knowledge of baby food and infant formula products, and substantial research and development by numerous companies in the baby food and infant formula market will all contribute to this.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: BABY FOOD AND INFANT FORMULA MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe baby food and infant formula market accounts for the second-largest market share. This is due to the region's favorable economic conditions, which allow consumers to pay a premium for higher-quality products. Further, the German baby food and infant formula industry held the largest market share, and the UK market of baby food and infant formula was the fastest growing market in the European region.
The North American Baby Food and Infant formula Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to the rising demand for baby food and the growing number of working women. In addition to strong awareness levels and rising disposable income, the region's high per capita healthcare spending is a factor in the market's expansion. Moreover, China market for baby food and infant formula held the largest market share, and the India baby food and infant formula market was the fastest growing market in the Asia-Pacific region.
For instance, in the US and Canada, Abbott voluntarily recalled a single lot of Calcilo XD powder cans associated with a certain lot number in 2019. Due to color and aroma inconsistencies in a small percentage of the cans from the specific batch, the product was recalled. Recalls of products can harm vendors' reputations and cause them to lose a lot of money. Hence, during the projection period, product recalls may prevent the market from expanding.
Leading industry companies are investing heavily in R&D to expand their product ranges, allowing the baby food and infant formula market to expand even further. Key market developments include new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other companies. To expand and survive in an increasingly competitive and rising market climate, competitors in the baby food and infant formula sector must offer cost-effective products.
Manufacturing locally to lower operational costs is one of the key business methods used by manufacturers in the worldwide baby food and infant formula industry to benefit clients and increase the market sector. In recent years, the baby food and infant formula sector has brought some of the most significant benefits to medicine. Major players in the baby food and infant formula markets, such as Abbott Nutrition, Danone S.A, Kraft Heinz Company, Nestle S.A, and others, are seeking to increase market demand by investing in research and development.
Nestlé is a Swiss multinational food and beverage firm headquartered in Vevey, Vaud, Switzerland. Since 2014, it has become the world's largest publicly traded food firm in terms of revenue and other measures. It was placed No. 64 on the Fortune 500 in 2017 and No. 33 on the Forbes 2000 list of the world's largest public corporations in 2016. In September 2022, Nestlé discovered a nutritious combination of components found in breast milk, myelin, and debuted Nutrilearn Connect, a baby formula featuring the novel ingredient, in Hong Kong before extending to other regions.
Post Holdings (formally Post Holdings, Inc.) is an American consumer packaged products holding corporation based in St. Louis, Missouri, with operations in the center-of-the-store, refrigerated, foodservice, and food ingredient categories. Its Post Consumer Brands division produces, markets, and sells both branded and private label cereals. Its Michael Foods Group division provides value-added egg and refrigerated potato products to the foodservice and food ingredient channels. In September 2022. Else Nutrition Holdings Inc. opened its flagship Chinese store on Tmall , and the company is currently selling Else Nutrition infant cereal and toddler formula items to Chinese customers directly through the store. The third market Else has entered since beginning its expansion is China.
Baby Food and Infant formula Industry Developments
May 2023 In order to assist fulfill the rising demand for low-protein formulations, Arla Foods Ingredients has introduced a new alphalactalbumin-rich infant formula component. Due to the new product's high alpha-lactalbumin content, there is a lot of room for formulation flexibility. It can be mixed, for instance, with other useful components like Lacprodan MFGM-10, a component of milk fat globule membranes that also includes phospholipids, sphingomyelin, and gangliosides.
In May 2023, Arla Foods Ingredients unveiled Lacprodan Alpha-50, an infant formula ingredient abundant in alpha-lactalbumin (alpha). This innovative release was specifically crafted to address the increasing demand for formulations with reduced protein content.
December 2022 Beginning on December 20, 2022, Bobbie, the mom-founded and -led infant formula firm worked with Uber Eats in delivering its European-inspired, organic formula right to New Yorkers' doors. For the first time ever, the direct-to-consumer formula brand was available on demand over the Christmas season thanks to the trial program, giving parents the assurance that they can feed their infants in less than a New York minute. Accessibility to high-quality formula is a primary concern for Bobbie & Uber Eats since the scarcity of infant formula is still there and more than one-third of carers reported having trouble getting it as late as November. A parenting confidence culture, not comparison, is what Bobbie Organic Infant Formula seeks to create, where each parent is encouraged to make the feeding decision that is best for them and their child.
November 2022 For the Chinese market, Kerry Group has introduced the "Green LOVE+" brand of Irish baby formula. Made from Irish milk, this product is 100 percent Irish. Suppliers of Kerry Agribusiness will provide the milk. This partnership offers good export growth opportunities for the added value dairy ingredients from Kerry Group's dairy processing facilities in Charleville, County Cork, and Listowel, County Kerry, says Kerry Group. The new infant formula retails at €43/1kg can in the top retail supermarkets in China—nearly four times the Irish price. More than €100 million was recently spent in these two factories, he continued. The new canning factory in Charleville, which will produce 15,000t of newborn formula this year, has just produced its first finished canned product.
In September 2022, Else Nutrition Holdings Inc. launched its flagship Chinese store on Tmall and is now selling Else Nutrition Toddler Formula and Baby Cereal products directly to Chinese consumers through the store. Else's entry into the Chinese market marks the company's third market in its international expansion.
In February Of 2020, Happy Family Organics introduced the new product lines 'organic baby food' and 'Happy baby regenerative organic'. There is a new line for infants, and the contents include growing regenerative farming exercises.
In November 2020, Nestlé S.A. will enter the frozen Baby Food and Infant Formula market with the debut of Freshful Start, an organic, simple-ingredient range of foods packaged in bowls prepared with vegetables and healthy grains. These products are available in five distinct vegetable combinations.
| Market Size 2023 | USD 25.1 billion |
| Market Size 2024 | USD 27.0 billion |
| Market Size 2032 | USD 42.4 billion |
| Compound Annual Growth Rate (CAGR) | 7.78% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2020- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, By Packaging Type, By Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Abbott Nutrition, Danone S.A, Kraft Heinz Company, Nestle S.A |
| Key Market Opportunities | Increasing urbanization, population increase, and the availability of a diverse range of products are all factors to consider. |
| Key Market Dynamics | Greater in the spend on infant health |
Baby Food Infant Formula Market Highlights:
Frequently Asked Questions (FAQ) :
The baby food and infant formula market size was valued at USD 27.0 Billion in 2024.
The market is projected to grow at a CAGR of 7.78% during the forecast period, 2024-2032.
Asia Pacific had the largest share in the market.
The key players in the market are Abbott Nutrition, Danone S.A, Kraft Heinz Company, Nestle S.A.
The pouches baby food and infant formula category dominated the market in 2023.
The infant formula had the largest share in the market.
Research Analyst Level II I have about two years of experience working in the consumer goods and retail industries and i am a biotech graduate.a tech-savvy analytically focused professional with a strong capabilities in identification, concept generation, and strategy evaluation. i can produce data-driven solutions while fusing unusual viewpoints with original concepts. i have been extensively working on business case studies, competitive & comparative analyses, and strategic reports. my primary areas of experience include client management, financial analysis, supply chain evaluation, market entry strategy evaluation, and estimating and forecasting market size.
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