Baby Infant Formula Market Expected to Reach $39,541 Million, Globally, by 2023

According to a new report published by Allied Market Research, titled, "Baby Infant Formula Market by Type, Ingredient, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global baby infant formula market was valued at $19,892 million in 2016, and is projected to reach $39,541 million by 2023, registering a CAGR of 10.4% from 2017 to 2023. In 2016, the infant milk segment accounted for more than five-ninths share of the global market, in terms of revenue.

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Baby infant formula comprises infant milk, follow-on-milk, specialty baby milk, and growing-up milk designed for the consumption of infants and toddlers. Infant milk contains the necessary nutrients, minerals, and vitamins for normal development of the baby. Physicians recommend infant formula as an alternative to breastmilk, as it can be fed anywhere and at any time, which makes it a convenient for working mothers. Many working mothers return to their jobs shortly after giving birth. Thus, infant formula can be fed at convenience and provides a healthy and nutritious alternative.

Asia-Pacific is the highest revenue contributor to the global market, owing to presence of large population under the between 0 and 4 years. Growth in female participation in labor force, increased disposable income, busy lifestyle, and high standards of living in countries such as China, India, South Korea, and Indonesia boost the growth of baby infant formula market. China dominated the baby infant formula market, in terms of revenue, accounting for more than half of the share in Asia-Pacific in 2016.

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India is the most attractive region for investment for baby infant formula manufacturers. With increase in number of families going nuclear supplemented with income from both parents, women are on a lookout for convenience of ready-to-drink infant formula. India is estimated to be one of the fastest growing markets at a CAGR of 11.7% from 2017 to 2023. China is the second most attractive market, owing to surge in purchasing power and its withdrawal of one child policy, which may lead to large infant population, in turn resulting in large consumption of baby infant formula.

In 2016, infant milk accounted for the highest market share owing to rise in physician’s recommendation to use infant milk as a substitute to breastfeeding, as it is healthy and nutritious choice along with better convenience. Iron-rich infant milk helps prevent anemia. Various infant milks are supplemented with probiotics, which help to prevent diarrhea, ease colic, and lower the risk of food allergies.

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In 2016, carbohydrate segment generated the highest revenue and is expected to maintain its dominance during the forecast period. Whereas, mineral segment is expected to grow at the highest CAGR of 11.2% from 2017 to 2023. The ESPGAN Nutrition Committee and the EU Scientific Committee on Food, established standards for formulas for healthy children, with a detailed content of 11 minerals. Infant formula consists of combination of minerals such as calcium, phosphorus, magnesium, iron, zinc, manganese, copper, iodine, selenium, sodium, potassium, chlorine, and others.

Brazil is the largest contributor towards the LAMEA baby infant formula market, owing to the presence of high disposable income among the consumers and of large number of working women in Brazil. As per World Bank, 43.1% of women occupy the total labor force in Brazil. On the other hand, Saudi Arabia is anticipated to the fastest growing segment, due to high birth rate and high disposable income of the consumers. As per World Bank, it was estimated that the birth rate in Saudi Arabia was 20 per 1,000 people in 2015.

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The key players profiled in the report are Abbott Laboratories, Arla Foods, Beingmate Group Co. Ltd., Campbell Soup Company, D. SIGNSTORE, Danone, Heinz and Hain Celestial Group, HiPP GmbH & Co., Mead Johnson Nutrition Company, LLC, and Nestle S.A.

The other key market players (not profiled in this report) in the value chain include Dana Dairy Group Ltd., Dano Food, Freed Foods, Inc., Friesland Campina, Holle baby food GmbH, NANNYcare Ltd., Nature's One, Inc., Organix Brands Limited, ORHEI-VIT, and Progress OAO.

List of Tables

TABLE 1. GLOBAL BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 2. GLOBAL BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 3. BABY INFANT FORMULA MARKET VALUE IN INFANT MILK, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 4. BABY INFANT FORMULA MARKET VOLUME IN INFANT MILK, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 5. BABY INFANT FORMULA MARKET VALUE IN FOLLOW-ON-MILK, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 6. BABY INFANT FORMULA MARKET VOLUME IN FOLLOW-ON-MILK, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 7. BABY INFANT FORMULA MARKET VALUE IN SPECIALTY BABY MILK, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 8. BABY INFANT FORMULA MARKET VOLUME IN SPECIALTY BABY MILK, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 9. BABY INFANT FORMULA MARKET VALUE IN GROWING-UP MILK, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 10. BABY INFANT FORMULA MARKET VOLUME IN GROWING-UP MILK, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 11. GLOBAL BABY INFANT FORMULA MARKET VALUE, BY INGREDIENT, 2015-2023 ($MILLION)
TABLE 12. GLOBAL BABY INFANT FORMULA MARKET VOLUME, BY INGREDIENT, 2015-2023 (KILOTON)
TABLE 13. BABY INFANT FORMULA MARKET VALUE FOR CARBOHYDRATE, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 14. BABY INFANT FORMULA MARKET VOLUME FOR CARBOHYDRATE, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 15. BABY INFANT FORMULA MARKET VALUE FOR FAT, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 16. BABY INFANT FORMULA MARKET VOLUME FOR FAT, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 17. BABY INFANT FORMULA MARKET VALUE FOR PROTEIN, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 18. BABY INFANT FORMULA MARKET VOLUME FOR PROTEIN, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 19. BABY INFANT FORMULA MARKET VALUE FOR MINERALS, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 20. BABY INFANT FORMULA MARKET VOLUME FOR MINERALS, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 21. BABY INFANT FORMULA MARKET VALUE FOR VITAMINS, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 22. BABY INFANT FORMULA MARKET VOLUME FOR VITAMINS, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 23. BABY INFANT FORMULA MARKET VALUE FOR OTHERS, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 24. BABY INFANT FORMULA MARKET VOLUME FOR OTHERS, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 25. GLOBAL BABY INFANT FORMULA MARKET VALUE, BY DISTRIBUTION CHANNEL, 2015-2023 ($MILLION)
TABLE 26. GLOBAL BABY INFANT FORMULA MARKET VOLUME, BY DISTRIBUTION CHANNEL, 2015-2023 (KILOTON)
TABLE 27. BABY INFANT FORMULA MARKET VALUE IN HYPERMARKETS, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 28. BABY INFANT FORMULA MARKET VOLUME IN HYPERMARKETS, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 29. BABY INFANT FORMULA MARKET VALUE IN SUPERMARKETS, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 30. BABY INFANT FORMULA MARKET VOLUME IN SUPERMARKETS, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 31. BABY INFANT FORMULA MARKET VALUE IN PHARMACY/MEDICAL STORE, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 32. BABY INFANT FORMULA MARKET VOLUME IN PHARMACY/MEDICAL STORE, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 33. BABY INFANT FORMULA MARKET VALUE IN SPECIALTY STORES, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 34. BABY INFANT FORMULA MARKET VOLUME IN SPECIALTY STORES, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 35. BABY INFANT FORMULA MARKET VALUE IN HARD DISCOUNTER STORE, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 36. BABY INFANT FORMULA MARKET VOLUME IN HARD DISCOUNTER STORE, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 37. BABY INFANT FORMULA MARKET VALUE IN OTHERS, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 38. BABY INFANT FORMULA MARKET VOLUME IN OTHERS, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 39. GLOBAL BABY INFANT FORMULA MARKET VALUE, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 40. GLOBAL BABY INFANT FORMULA MARKET VOLUME, BY GEOGRAPHY, 2015-2023 (KILOTON)
TABLE 41. NORTH AMERICA BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 42. NORTH AMERICA BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 43. NORTH AMERICA BABY INFANT FORMULA MARKET VALUE, BY INGREDIENT, 2015-2023 ($MILLION)
TABLE 44. NORTH AMERICA BABY INFANT FORMULA MARKET VOLUME, BY INGREDIENT, 2015-2023 (KILOTON)
TABLE 45. NORTH AMERICA BABY INFANT FORMULA MARKET VALUE, BY DISTRIBUTION CHANNEL, 2015-2023 ($MILLION)
TABLE 46. NORTH AMERICA BABY INFANT FORMULA MARKET VOLUME, BY DISTRIBUTION CHANNEL, 2015-2023 (KILOTON)
TABLE 47. NORTH AMERICA BABY INFANT FORMULA MARKET VALUE, BY COUNTRY, 2015-2023 ($MILLION)
TABLE 48. NORTH AMERICA BABY INFANT FORMULA MARKET VOLUME, BY COUNTRY, 2015-2023 (KILOTON)
TABLE 49. U.S. BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 50. U.S. BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 51. CANADA BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 52. CANADA BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 53. MEXICO BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 54. MEXICO BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 55. EUROPE BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 56. EUROPE BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 57. EUROPE BABY INFANT FORMULA MARKET VALUE, BY INGREDIENT, 2015-2023 ($MILLION)
TABLE 58. EUROPE BABY INFANT FORMULA MARKET VOLUME, BY INGREDIENT, 2015-2023 (KILOTON)
TABLE 59. EUROPE BABY INFANT FORMULA MARKET VALUE, BY DISTRIBUTION CHANNEL, 2015-2023 ($MILLION)
TABLE 60. EUROPE BABY INFANT FORMULA MARKET VOLUME, BY DISTRIBUTION CHANNEL, 2015-2023 (KILOTON)
TABLE 61. EUROPE BABY INFANT FORMULA MARKET VALUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 62. EUROPE BABY INFANT FORMULA MARKET VOLUME, BY COUNTRY, 2015-2023 (KILOTON)
TABLE 63. UK BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 64. UK BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 65. GERMANY BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 66. GERMANY BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 67. FRANCE BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 68. FRANCE BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 69. ITALY BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 70. ITALY BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 71. SPAIN BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 72. SPAIN BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 73. TURKEY BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 74. TURKEY BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 75. RUSSIA BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 76. RUSSIA BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 77. REST OF EUROPE BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 78. REST OF EUROPE BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 79. ASIA-PACIFIC BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 80. ASIA-PACIFIC BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 81. ASIA-PACIFIC BABY INFANT FORMULA MARKET VALUE, BY INGREDIENT, 2015-2023 ($MILLION)
TABLE 82. ASIA-PACIFIC BABY INFANT FORMULA MARKET VOLUME, BY INGREDIENT, 2015-2023 (KILOTON)
TABLE 83. ASIA-PACIFIC BABY INFANT FORMULA MARKET VALUE, BY DISTRIBUTION CHANNEL, 2015-2023 ($MILLION)
TABLE 84. ASIA-PACIFIC BABY INFANT FORMULA MARKET VOLUME, BY DISTRIBUTION CHANNEL, 2015-2023 (KILOTON)
TABLE 85. ASIA-PACIFIC BABY INFANT FORMULA MARKET VALUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 86. ASIA-PACIFIC BABY INFANT FORMULA MARKET VOLUME, BY COUNTRY, 2015-2023 (KILOTON)
TABLE 87. CHINA BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 88. CHINA BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 89. INDIA BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 90. INDIA BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 91. SOUTH KOREA BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 92. SOUTH KOREA BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 93. JAPAN BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 94. JAPAN BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 95. PHILIPPINES BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 96. PHILIPPINES BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 97. INDONESIA BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 98. INDONESIA BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 99. REST OF ASIA-PACIFIC BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 100. REST OF ASIA-PACIFIC BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 101. LAMEA BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 102. LAMEA BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 103. LAMEA BABY INFANT FORMULA MARKET VALUE, BY INGREDIENT, 2015-2023 ($MILLION)
TABLE 104. LAMEA BABY INFANT FORMULA MARKET VOLUME, BY INGREDIENT, 2015-2023 (KILOTON)
TABLE 105. LAMEA BABY INFANT FORMULA MARKET VALUE, BY DISTRIBUTION CHANNEL, 2015-2023 ($MILLION)
TABLE 106. LAMEA BABY INFANT FORMULA MARKET VOLUME, BY DISTRIBUTION CHANNEL, 2015-2023 (KILOTON)
TABLE 107. LAMEA BABY INFANT FORMULA MARKET VALUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 108. LAMEA BABY INFANT FORMULA MARKET VOLUME, BY COUNTRY, 2015-2023 (KILOTON)
TABLE 109. BRAZIL BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 110. BRAZIL BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 111. ARGENTINA BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 112. ARGENTINA BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 113. SOUTH AFRICA BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 114. SOUTH AFRICA BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 115. SAUDI ARABIA BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 116. SAUDI ARABIA BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 117. UAE BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 118. UAE BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 119. REST OF LAMEA BABY INFANT FORMULA MARKET VALUE, BY TYPE, 2015-2023 ($MILLION)
TABLE 120. REST OF LAMEA BABY INFANT FORMULA MARKET VOLUME, BY TYPE, 2015-2023 (KILOTON)
TABLE 121. ABBOTT LABORATORIES.: COMPANY SNAPSHOT
TABLE 122. ABBOTT LABORATORIES.: OPERATING SEGMENTS
TABLE 123. ARLA FOODS: COMPANY SNAPSHOT
TABLE 124. ARLA FOODS: OPERATING SEGMENTS
TABLE 125. BEINGMATE GROUP CO. LTD.: COMPANY SNAPSHOT
TABLE 126. BEINGMATE GROUP CO. LTD.: OPERATING SEGMENTS
TABLE 127. CAMPBELL SOUP COMPANY: COMPANY SNAPSHOT
TABLE 128. CAMPBELL SOUP COMPANY: OPERATING SEGMENTS
TABLE 129. D. SIGNSTORE: COMPANY SNAPSHOT
TABLE 130. D. SIGNSTORE: OPERATING SEGMENTS
TABLE 131. DANONE: COMPANY SNAPSHOT
TABLE 132. DANONE: OPERATING SEGMENTS
TABLE 133. HEINZ AND HAIN CELESTIAL GROUP: COMPANY SNAPSHOT
TABLE 134. HEINZ AND HAIN CELESTIAL GROUP: OPERATING SEGMENTS
TABLE 135. HIPP GMBH & CO.: COMPANY SNAPSHOT
TABLE 136. HIPP GMBH & CO.: OPERATING SEGMENTS
TABLE 137. MEAD JOHNSON NUTRITION COMPANY, LLC: COMPANY SNAPSHOT
TABLE 138. MEAD JOHNSON NUTRITION COMPANY, LLC: OPERATING SEGMENTS
TABLE 139. NESTLE S.A.: COMPANY SNAPSHOT
TABLE 140. NESTLE S.A.: OPERATING SEGMENTS

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