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The global baby food and infant formula market attained a value of almost USD 66.69 billion in 2023. The market is expected to grow at a CAGR of almost 5.80% over the forecast period of 2024-2032. The industry is further expected to attain a value of around USD 111.08 billion by 2032.
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The global baby food and infant formula market is being driven by the rising consumer awareness and the growing demand for convenient, packaged, and nutritious food products with the changing lifestyle and rising living standards.
Milk formula, also known as infant formula, is the most preferred type, accounting for a significant share in the global industry. Currently, the Asia Pacific dominates the global baby food and infant formula industry owing to the presence of a large population and the rising consumer disposable incomes in the region. The leading players are shifting their focus towards the emerging markets within the Asia Pacific, such as India and China, which is expected to provide various growth opportunities to the industry in the forecast period. China and the Netherlands are the leading importer and exporter of baby food and infant formula, respectively.
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While baby food refers to a mixture or soft mash of fruits, vegetables and cereals, manufactured for toddlers between the age of four months and two years, the infant formula is a solution especially prepared and targeted for babies that are under the age of 12 months. Infant formula, which is prepared keeping in mind the nutritious requirements of infants, is an ideal substitute for breast-milk. Baby food and infant formula is emerging as a primary source of nutrients for babies as they lack developed muscles and teeth for chewing adequately. Further, these products can be found in powdered as well as liquid form.
The market, based on type, can be divided into:
On the basis of the distribution channel, the industry is segmented into:
Currently, supermarkets and hypermarkets, among various distribution channels, leads the industry.
The report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The global market for baby food and infant formula is being driven by the increasing consumer demand for packaged foods owing to the convenience and enhanced nutrition offered by such products. As the right nutrition intake helps in the child's overall growth and development, parents are increasingly adopting baby food and infant formula products as they are rich in proteins, vitamins, minerals and carbohydrates. With rising disposable incomes and growing consumer awareness, the industry is witnessing increased growth. Further, the thriving e-commerce industry is providing a boost to the sales of such products via online platforms.
To satisfy consumer demand, manufacturers are continuously developing enhanced product range. They are launching baby food and infant formula variants in different forms, textures, and flavours, without compromising on their nutritious value. The production and consumption of organic, premium, and minimally-processed variants is also increasing, propelling the industry growth. Thus, the growing expenditure in the research and development activities by the major players will further aid the growth of the industry over the forecast period.
The report gives a detailed analysis of the following key players in the global baby food and infant formula market, covering their competitive landscape, capacity, and latest developments like mergers and acquisitions, investments, capacity expansion, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Distribution Channel |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Baby Food and Infant Formula Market Analysis
8.1 Key Industry Highlights
8.2 Global Baby Food and Infant Formula Historical Market (2018-2023)
8.3 Global Baby Food and Infant Formula Market Forecast (2024-2032)
8.4 Global Baby Food and Infant Formula Market by Type
8.4.1 Milk Formula
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Dried Baby Food
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Prepared Baby Food
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Baby Food and Infant Formula Market by Distribution Channel
8.5.1 Supermarkets and Hypermarkets
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Pharmacies
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Convenience Stores
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Baby Food and Infant Formula Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Baby Food and Infant Formula Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Baby Food and Infant Formula Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Baby Food and Infant Formula Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Baby Food and Infant Formula Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Baby Food and Infant Formula Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Manufacturing Process
17.1 Detailed Process Flow
17.2 Operations Involved
17.3 Mass Balance
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.3.1 Abbott Nutrition
18.3.1.1 Company Overview
18.3.1.2 Product Portfolio
18.3.1.3 Demographic Reach and Achievements
18.3.1.4 Financial Summary
18.3.1.5 Certifications
18.3.2 Nestlé S.A.
18.3.2.1 Company Overview
18.3.2.2 Product Portfolio
18.3.2.3 Demographic Reach and Achievements
18.3.2.4 Financial Summary
18.3.2.5 Certifications
18.3.3 Danone S.A.
18.3.3.1 Company Overview
18.3.3.2 Product Portfolio
18.3.3.3 Demographic Reach and Achievements
18.3.3.4 Financial Summary
18.3.3.5 Certifications
18.3.4 Mead Johnson & Company, LLC
18.3.4.1 Company Overview
18.3.4.2 Product Portfolio
18.3.4.3 Demographic Reach and Achievements
18.3.4.4 Financial Summary
18.3.4.5 Certifications
18.3.5 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Baby Food and Infant Formula Market: Key Industry Highlights, 2018 and 2032
2. Global Baby Food and Infant Formula Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Baby Food and Infant Formula Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Baby Food and Infant Formula Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
5. Global Baby Food and Infant Formula Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
6. Global Baby Food and Infant Formula Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Baby Food and Infant Formula Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Baby Food and Infant Formula Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Baby Food and Infant Formula Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Baby Food and Infant Formula Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Baby Food and Infant Formula Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Baby Food and Infant Formula Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Baby Food and Infant Formula Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Baby Food and Infant Formula Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Baby Food and Infant Formula Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Baby Food and Infant Formula Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Baby Food and Infant Formula Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Baby Food and Infant Formula Market Structure
In 2023, the global baby food and infant formula market reached a value of almost USD 66.69 billion.
The market is projected to grow at a CAGR of nearly 5.80% over the forecast period of 2024-2032.
The market is estimated to attain a value of nearly USD 111.08 billion by 2032.
The major drivers of the market are rising disposable incomes, increasing population, availability of enhanced product ranges, and growing consumer awareness.
The expansion of e-commerce websites and growing consumer demand for packaged foods are expected to be key trends influencing the market.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the major regions in the market.
The various types of baby food and infant formula in the market are milk formula, dried baby food, and prepared baby food, among others.
Supermarkets and hypermarkets are the leading distribution channels in the market.
Abbott Nutrition, Nestlé S.A., Danone S.A., and Mead Johnson & Company, LLC, among others, are the major players in the global baby food and infant formula market.
The global market for baby food and infant formula attained a value of almost USD 66.69 billion in 2023 driven by the rising consumer awareness and growing demand for packaged food. Aided by the growing workforce and rising e-retail sites, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.80%. The market is projected to reach USD 111.08 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the market can be segmented into milk formula, dried baby food, prepared baby food, and others, with milk formula accounting for the largest market share. On the basis of distribution channel, supermarkets and hypermarkets sector accounts for in the global market. The major regional markets for North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the market. The key players in the above market include Abbott Nutrition, Nestlé S.A., Danone S.A., Mead Johnson & Company, LLC, and others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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