According to the current analysis of Reports and Data, the global Infant Formula Market was valued at USD 17.57 Billion in 2020 and is expected to reach USD 29.94 Billion by the year 2026, at a CAGR of 6.8%. Infant formula sales have been developing thanks apace to the rise in the birth rate and increase and high per capita financial gain. Globally, the expansion in the baby formula market is driven by a growing socio-economic class population. The Asia Pacific is foreseen to advance at the best rate, particularly driven by the large population base and rapid commercial development. Growing-up milk, a kind of baby formulas, is meant to satisfy toddlers’ growing desires and might be consumed as a part of a diet. It may be used as a biological process drink or together with different foods.
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Further key findings from the report suggest
- Infant formula is not officially a pharmaceutical product, though in many cases the manufacturers are pharmaceutical companies. If infant formula were to be categorized as a pharmaceutical, under U.S. law it would have to be assessed for both its safety and its effectiveness
- Infant formula composition and labelling are regulated in both the UK (via EU directives) and the US, but there are some specific differences in ingredients permissible and in the labelling of these products
- Infant formula in the US does not have to be fortified with iron to an amount considered optimal in the EU and the UK, but the maximum amount permitted is much higher than allowed in the EU
- The EU Commission Directive 2006/141/EC disallows health claims on infant formula (with the exception of a specific controlled claim related to protein allergencity)
- When placing a new infant formula on the market, manufacturers must notify the competent national authority in the case of EU regulations or notify the FDA in the case of US regulations
- The Specialty Formula application sub-segment is expected to register a CAGR of 7.1% during 2020-2028
- Asia-Pacific regional segment of the Infant Formula market is expected to remain highest growing segment during 2020-2028, at a CAGR of 7.4%
- Some of the key market players are Arla Foods Amba, Vitablend Nederland B.V., Carbery Food Ingredients Limited, Fonterra Co-Operative Group Limited, Aarhuskarlshamn AB, Royal Frieslandcampina N.V., Sachsenmilch Leppersdorf GmbH, BASF SE, Koninklijke DSM N.V., Chr. Hansen Holding A/S
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Companies considered and profiled in this market study:
Arla Foods Amba, Vitablend Nederland B.V., Carbery Food Ingredients Limited, Fonterra Co-Operative Group Limited, Aarhuskarlshamn AB, Royal Frieslandcampina N.V., Sachsenmilch Leppersdorf GmbH, BASF SE, Koninklijke DSM N.V., Chr. Hansen Holding A/S.
Based on Type, the market has been segmented as follows:
- Carbohydrates
- Fats & Oils
- Proteins
- Vitamins
- Minerals
- Prebiotics
- Others (Probiotics, Nucleotides, and Emulsifiers)
Based on the Source, the market has been segmented as follows
- Cow Milk
- Soy
- Protein hydrolysates
- Others (Goat milk and camel milk)
Based on Application, the market for infant formula ingredients has been segmented as follows
- Growing-Up Milk (Infants over 12 months)
- Standard Infant Formula (0–6-month-old infants)
- Follow-On Formula (6–12 month-old infants)
- Specialty Formula
Based on the Form, the market for infant formula ingredients has been segmented as follows:
- Powder
- Liquid & semi-liquid
- Ready-to-drink
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Regional Outlook (Revenue, USD Million; 2020-2028, and Volume Metric Tons-2026)
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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