Growing-Up Milk Market Size was estimated at 27.5 (USD Billion) in 2022. The Growing-Up Milk Industry is expected to grow from 28.69(USD Billion) in 2023 to 42.1 (USD Billion) by 2032. The Growing-Up Milk Market CAGR (growth rate) is expected to be around 4.35% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Growing-Up Milk Market Trends Highlighted
Changing lifestyles, rising disposable incomes, and increasing health consciousness among parents are driving the demand for growing-up milk ly. The fortification of these products with essential nutrients, including vitamins, minerals, and protein, makes them an attractive option for parents seeking to provide optimal nutrition for their growing children. Additionally, the convenience and availability of growing up milk in various flavors and formats further contribute to its popularity.
Opportunities for growth in the Growing-Up Milk Market lie in the expansion of product offerings to cater to specific nutritional needs, such as lactose-free and hypoallergenic formulas. Furthermore, the growing trend of online shopping and the increasing penetration of e-commerce platforms present opportunities for manufacturers to reach a wider consumer base. In recent times, the demand for organic and natural growing up milk has surged, driven by concerns over the safety and potential health risks associated with conventional dairy products. This trend offers opportunities for manufacturers to tap into the growing consumer preference for healthier and more sustainable options.
The growing appreciation for early childhood nutrition has led to an overtime surge in demand for Growing Up Milk products. These products feature nutrients vital for children's growth including vitamins, minerals, and others required for children's physical and cognitive development. The market has witnessed rapid growth with children's dependence on these products. This growth has been a function of several factors including the need for manufacturers to increase production to meet the growing demand.An increase in the number of working women has led to a rise in the dependence on the product. Furthermore, with an increase in the urbanization of the world population, the need for convenient products children can carry has grown. Various governments and food providers have previously provided subsidized or free Growing Up Milk to low-income families to cater to their children's nutrition. These programs have been implemented in recognition of the impact of child nutrition on children's physical and cognitive capabilities.The impact of these initiatives and the increased number of mothers working demanding convenient consumables are expected to continue to fuel the growth of the Growing-Up Milk Market Industry. The growth of the market has been and will be driven by the increasing demand for nutritionally enriched products. These products are created to offer convenience when being bought with the rightful nutrients and in a form, children are most interested in taking.The most assured way of Growth of the Growing-up Milk Market Industry in the years to come is to keep parents aware of the importance of children feeding on the product.
Rising disposable income and changing lifestyles have contributed to the growth of the Growing-Up Milk Market Industry. In emerging economies, the growing middle class has increased its spending on consumer goods, including food and beverages. This has led to an increased demand for premium and branded Growing Up Milk products as parents seek out products that they perceive to be of higher quality and more nutritious. Changing lifestyles have also played a role in the growth of the market.The increasing number of working mothers and the growing urbanization of populations have led to a greater demand for convenient and portable food options for children. Growing Up Milk products offer a convenient and nutritious way to provide children with the nutrients they need, which has further fueled the growth of the market.
The primary factor responsible for the growth of the Growing-Up Milk Market Industry is increasing awareness of the necessity of early childhood nutrition. Research has proven that the first 1,000 days of a child's life are the most crucial for growth and development. Hence, there has been an increasing need among people to provide children with the necessary nutrients. Since Growing Up Milk products are enriched with essential vitamins and minerals, parents have highly preferring these products to boost the development and growth of children.
The Growing-Up Milk Market has been segregated by Product Type into Toddler Milk, Child Milk, and Pre-teen Milk. On the basis of product type, the toddler milk segment is expected to register significant growth over the forecast period. The toddler milk segment is also expected to hold a large market share owing to rising awareness over the consumption of nutritious milk damaging the early developmental phase for toddlers. Moreover, the increasing number of working mothers and the adoption of a trendy lifestyle of using formula feeders is further propelling the segment's growth.Toddler milk is specially prepared for children falling in the age group of 1-3 years to meet their precise nutritional needs. Child milk, on the other hand, is specially formulated for children in the age group of 4-8 years, which, on the one hand, improves the overall health of the child and, on the other hand, provides necessary nutrients for growing. Pre-teen milk is developed considering the child's growth within the age of 9-12 years. The increasing demand for energy through proper diet among pre-teens having faster growth is accelerating the growth of the pre-teen milk market.The Child Milk market is also expected to hold a conspicuous market share from 2018 to 2023. The growth of child milk can be attributed to the increasing need for fortified milk for its multiple benefits such as it improves bones and the body's immune system.
The growing number of people who are lactose intolerant is one of the other key factors driving the child milk segment growth. Moreover, rising disposable income coupled with the increasing concern of parents towards their child's health is significantly contributing to the overall growth of the child milk market.The pre-teen milk market is also expected to record a steady growth rate over the forecast period. The awareness regarding the pre-teen needs and awareness driven by various advertisements and print media is one of the key factors driving the pre-teen milk market. The increasing awareness can be attributed to changing lifestyles and feeding patterns among the population. Moreover, the rising usage of flavored milk all over the world and its easy availability is one of the other significant reasons propelling the growth of the pre-teen market.Overall the Growing-Up Milk Market is expected to see remarkable growth over the forecast period as well. The Multiple reasons driving this market include the increasing demand for nutritious milk for children falling in each age group along with rising awareness of these products and improving disposable income are the three major factors.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
The Growing-Up Milk Market is segmented by Market Channel into Hypermarkets/Supermarkets, Convenience Stores, Online Retailers, and Pharmacies. Hypermarkets/Supermarkets held the largest market share of 42.1% in 2023 and are expected to continue to dominate the market throughout the forecast period. The large market share of hypermarkets/supermarkets can be attributed to the wide variety of products they offer, along with the convenience of one-stop shopping. Convenience Stores are expected to witness a CAGR of 7.8% from 2024 to 2032. The growth of the convenience store segment can be attributed to the increasing number of working women and the growing preference for on-the-go consumption.Online Retailers are expected to witness a CAGR of 9.2% from 2024 to 2032. The growth of the online retail segment can be attributed to the increasing penetration of the internet and the growing popularity of online shopping. Pharmacies are expected to witness a CAGR of 6.5% from 2024 to 2032. The growth of the pharmacy segment can be attributed to the increasing awareness of the importance of nutrition and the growing number of people suffering from chronic diseases.
The Growing-Up Milk Market segmentation by Consumer Group comprises toddlers, young children, and older children. Toddlers aged 1-3 years represent a significant segment, accounting for a revenue share of around 38.4% in 2023 and projected to reach USD 16.9 billion by 2032. Young children aged 4-6 years follow with a projected market size of USD 12.5 billion by 2032. Older children aged 7-10 years are expected to contribute a revenue share of approximately 24.2% by 2032. The growing awareness of the importance of nutrition for children's development, coupled with rising disposable income and urbanization, is driving the growth of the Growing-Up Milk Market for various consumer groups.
The Growing-Up Milk Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, APAC is expected to hold the largest market share in the coming years. The growing population of children and increasing disposable income in the region are the major factors driving the growth of the Growing-Up Milk Market in APAC. The growth of the market is attributed to the increasing awareness about the nutritional benefits of growing up milk among parents and the growing number of working mothers.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Major players in the Growing-Up Milk Market industry are constantly engaged in developing innovative products and expanding their geographical reach. Leading Growing-Up Milk Market players are investing heavily in research and development to create new and improved products that cater to the evolving needs of consumers. The Growing-Up Milk Market development is also being driven by the increasing adoption of e-commerce platforms, which has made it easier for consumers to purchase these products.
The Growing-Up Milk Market Competitive Landscape is expected to remain highly competitive in the coming years, with major players vying for market share through product innovation, strategic partnerships, and aggressive marketing campaigns.Nestlé, a leading player in the Growing-Up Milk Market, has a strong presence and a wide range of products. The company's focus on innovation has led to the development of products such as NAN OPTIPRO and NIDO, which are tailored to the specific needs of infants and toddlers. Nestlé also has a strong distribution network, which allows it to reach consumers in both urban and rural areas.Danone, another major player in the Growing-Up Milk Market, is known for its innovative products and strong brand portfolio. The company's Aptamil and Nutrilon brands are popular choices among consumers around the world. Danone is also actively involved in research and development and has recently launched a new line of products that are fortified with probiotics.
Growing-Up Milk Market Industry Developments
The Growing-Up Milk Market is projected to reach USD 42.1 billion by 2032, exhibiting a CAGR of 4.35% during the forecast period. Growing concerns about childhood malnutrition, rising disposable income, and increasing awareness about the nutritional benefits of growing-up milk are driving market growth. In 2023, the market was valued at USD 28.69 billion, showcasing consistent growth in recent years.Recent developments include strategic partnerships between major market players, such as Danone and Mead Johnson Nutrition, to expand their product portfolios and cater to diverse consumer needs. Innovation in product offerings, such as the launch of lactose-free and organic growing-up milk variants, is also shaping the market landscape. Furthermore, government initiatives aimed at promoting child nutrition and reducing malnutrition are expected to provide impetus to market growth in the coming years.
| Report Attribute/Metric | Details |
| Market Size 2022 | 27.5(USD Billion) |
| Market Size 2023 | 28.69(USD Billion) |
| Market Size 2032 | 42.1(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 4.35% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2022 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Meiji Holdings Co, Fonterra Cooperative Group Limited, Nestle S.A., FrieslandCampina N.V., Morinaga Milk Industry, Yakult Honsha Co., Ltd., Beingmate Baby Child Food, A2 Milk Company, Arla Foods, Abbott Laboratories, Yili Grou, Ausnutria Dairy, Danone S.A., Bellamy's Organic |
| Segments Covered | Product Type, Market Channel, Consumer Group, Regional |
| Key Market Opportunities | Key Market Opportunities1 Surge in Urbanization and Nuclear Families2 Increasing Disposable Income and Health Consciousness3 Rise of Ecommerce and Home Delivery4 Growing Prevalence of Malnutrition and Nutrient Deficiencies5 Technological Advancements in Infant Formula Production |
| Key Market Dynamics | Growth in urbanization, rising disposable income, increasing awareness of nutritional requirements |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Growing-Up Milk Market is anticipated to be valued at approximately USD 28.69 billion in 2023.
The Growing-Up Milk Market is expected to exhibit a CAGR of 4.35% from 2023 to 2032.
Asia-Pacific is anticipated to hold the largest market share in the Growing-Up Milk Market in 2023.
Rising health consciousness among parents, increasing disposable income, and growing awareness of the nutritional benefits of growing up milk are driving the market growth.
Nestlé, Danone, Abbott Laboratories, Mead Johnson Nutrition, and FrieslandCampina are among the prominent players in the Growing-Up Milk Market.
The Growing-Up Milk Market is projected to reach approximately USD 42.1 billion by 2032.
The infant formula segment is expected to account for the largest market share in the Growing-Up Milk Market in 2023.
The Asia-Pacific Growing-Up Milk Market is expected to register a CAGR of approximately 5.2% from 2024 to 2032.
Competition from alternative infant feeding products and stringent government regulations may pose challenges to market growth.
Fortified growing up milk products with added nutrients and organic and plant-based growing up milk are gaining popularity in the market.
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
