Breast Milk Substitutes Market Is Predicted To Expand At A High-Value CAGR Of 9.4% By The End Of 2032

Market Forecast for Breast Milk Substitutes (2022-2032)
The global breast milk substitute market is valued at US$ 18.4 billion and is expected to grow at a high-value CAGR of 9.4% to reach US$ 45.1 billion by the end of 2032. Breast milk substitute sales revenue is estimated to account for more than 30% of the global infant formula market.

Breast Milk Substitutes Sales Analysis vs. Market Forecasts (2017-2021) (2022-2032)

Breast milk substitutes are popular among non-lactating mothers. Manufacturers’ goal of producing natural, additive-free substitutes for breast milk has helped them maintain a prominent position in the food and beverage market.

The use of breast milk replacement formula has increased significantly in developing countries due to higher birth rates. The inclusion of powdered breast milk substitutes in infant diets will also increase industry product demand.

Consumption of breast milk substitutes by infants of different age groups increased at a compound annual growth rate of 6.4% from 2017 to 2021.

The number of women who work is on the rise. Difficult postpartum support and maternity leave policies will contribute favorably to the increased usage of breast milk substitutes over the coming years. Upsurge in spending by manufacturers to produce breast milk substitutes in various forms will majorly contribute to market growth.

Insights by Country

Will China’s new child policy increase demand for breast milk substitutes?
The Chinese market for breast milk substitutes is expected to reach US$ 13.0 billion by 2032.

China implemented a three-child policy in August 2021 in order to increase its declining birth rate. This major policy shift is expected to increase birth rates, which will benefit the country’s breast milk substitute market.

Why is the market for breast milk substitutes in the United States so lucrative?
At the moment, the United States controls 81.2% of the North American breast milk substitute market.

In the United States, the prevalence of non-lactating mothers is higher than that of breastfeeding mothers.

Why is the market for breast milk substitutes in the United States so lucrative?

At the moment, the United States controls 81.2% of the North American breast milk substitute market.

In the United States, the prevalence of non-lactating mothers is higher than that of breastfeeding mothers. Furthermore, due to their hectic lifestyles, an increase in the number of employed women is expected to boost the market for breast milk substitutes. The only way for them to provide their infants with the nutrients that breastmilk provides is to use breast milk substitutes.

Competitive Landscape

Prominent breast milk substitute manufacturers are Nestle, Abbott, Heinz, Danone, Fonterra, and Kendamil.

Key manufacturers of breast milk substitute products are employing sustainable technologies as well as a safe & efficient environment for production purposes. Market players are focusing on developing new products that are designed keeping in mind the regulations and acts associated with infant nutrition.

  • In July 2022, Danone launched a plant-based infant formula to meet the requirements of parents who want to include more plant-based food in their infant’s diet.

Fact.MR has provided detailed information about the price points of key manufacturers of breast milk substitutes positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Breast Milk Substitute Industry Research

  • By Formula :
    • Cow Milk Protein
    • Soy-based Formula
    • Hydrolyzed Formula
    • Others (Goat Milk, Fruits & Vegetables)
  • By Form :
    • Powder
    • Liquid
  • By Consumer Age :
    • Below 6 Months
    • 6-23 Months
  • By Distribution channel :
    • Online
      • Brand Websites
      • e-commerce Platforms
    • Offline
      • Retail Stores
      • Pharmacies
      • Supermarkets/Hypermarkets
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

Important doubts related to the Breast Milk Substitute Market clarified in the report:

  1. Which regional market is expected to witness the highest growth during the forecast period?
  2. How has the surging prices of raw materials during the COVID-19 pandemic impacted the growth of the Breast Milk Substitute market?
  3. Why are market players focusing on R&D and innovations?
  4. Are market players expanding their global presence? If yes, how?

Highlights from the Report

  • Elaborated scenario of the parent market
  • Transformations in the market dynamics
  • Detailed segmentation of the target market
  • Historical, current and forecast market size based on value and volume
  • Latest industry developments and trends
  • Competition landscape
  • Strategies adopted by the market players and product developments made
  • Potential and niche segments, along with their regional analysis
  • Unbiased analysis on performance of the market
  • Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness

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