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Global Baby Formula Market to reach $45.05 Bn by 2028: COVID Impact, Opportunities Trends, and Forecast

03-29-2021 04:42 PM CET | Health & Medicine

Press release from: Evolve Business Intelligence

Baby Food Market Snapshot

Baby Food Market Snapshot

Evolve Business Intelligence, today has published a new market research report on “The global baby formula market size was valued at $20.99 billion in 2020 and is expected to reach $45.05 billion by 2028 growing at the CAGR of 9.61% from 2021 to 2028”

For more information on the report:

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the baby formula market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

In terms of COVID 19 impact, the baby formula market report also includes the following data points:
• COVID19 Impact on baby formula market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in baby formula market

Analyst View
According to Lekha, Principal Analyst, Evolve Business Intelligence, “The recent COVID-19 has negatively impacted baby formula market. There was a negative impact on the export-import of the nutrition sector and most of the baby food manufacturers were found focusing on ramping up the production of baby food during the COVID-19 pandemic people were avoiding baby food supplements that are more than 10 days to 2 weeks older.”

Competitive Scenario
Some of the major baby formula players holding high market share include Nestle, Danone, Dana Dairy Group Ltd, and Campbell Soups. These players adopt collaboration as a key strategy to gain significant market share to compete with market leaders.

Segmental Analysis
The baby formula market is analyzed across the below-mentioned segments:
Product Type
• Starting Milk Formula
• Follow-on Milk Formula
• Toddlers Milk Formula
• Special Milk Formula
• Carbohydrate
• Fats
• Proteins
• Minerals
• Vitamin
Distribution Channel
• Hypermarkets
• Supermarkets
• Medical Stores
• Specialty Stores

Report Coverage
The study also contains a comprehensive value chain, as well as details on the key factors affecting the market growth (drivers, constraints, and opportunities). Furthermore, the report includes 10 key players in the baby formula market ecosystem that have been strategically profiled, along with the market ranking/share for major players. Under the company profile section, the company’s core competencies have been comprehensively analyzed, along with detailing the competitive landscape for the market players, and the strategies such as partnerships and collaboration, acquisitions, product launches and developments, contracts, and business expansion adopted by them to grow in the market.

The key players profiled in the report are:
• Dana Dairy Group Ltd
• Arla Foods Amba
• Campbell Soups
• Danone
• D-Signstore
• HiPP GmbH & Co. Vertrieb KG
• Reckitt Benckiser
• The Hain Celestial Group
• Nestle S.A.
• Abbott

To request a free sample report, click on the “Request Sample PDF” button on

Research Methodology
This research study makes substantial use of secondary sources, archives, and databases (such as annual reports, news releases, magazines, Trade maps, company websites, and other paid databases) to classify and gather information valuable for this analysis. The entire process involves a review of top industry participants' financial records. Following the determination of the overall market size, the total market was divided into several segments and sub-segments, and this information was then verified through key industry specialists such as CEOs, directors, VPs, and marketing executives.

Report Objectives
• To define, describe, and forecast the baby formula market, in terms of value, segmented based on indication, type, technology, and geography
• To forecast the market size across 4 key regions—Asia Pacific (APAC), North America, Europe, and Rest of the World (RoW)
• To provide detailed information regarding drivers, restraints, and opportunities, in the baby formula market
• To provide an overview of the value chain analysis about the baby formula industry
• To strategically analyze each segment and subsegment concerning individual overall growth trends and their contribution to the overall baby formula market
• To analyze opportunities in the market by identifying high-growth segments of the baby formula market
• To profile key players in the baby formula market and comprehensively analyze their core competencies
• To analyze competitive developments such as partnerships, product launches and developments, contracts, and mergers and acquisitions carried out in the global baby formula market

Evolve Business Intelligence
C-218, 2nd floor, M-Cube
NH 48, Balitha, Vapi
Gujarat 396191


Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.
Evolve Business Intelligence is built on account of technology advancement providing highly accurate data through our in-house AI-modelled data analysis and forecast tool – EvolveBI. This tool tracks real-time data including, quarter performance, annual performance, and recent developments from fortune’s global 2000 companies.

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