The global Infant formula milk market was valued at USD XX billion in 2018 and is expected to reach USD XX billion in 2026, growing at a CAGR of 9.0% during the forecast period.
Infant formula milk can be used as an alternative to breastfeeding as it contains similar nutrition as breast milk. Infant formula milk contains multiple nutrients, such as carbohydrates, fats, proteins, vitamins, minerals, and other nutrients (linoleic acid, prebiotics, and others), which are essential for the general growth of the infants. It is prepared from milk, by vaporizing the liquid content from it. Formula milk powder is generally used for cup feeding and bottle feeding to infants.
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Considering the current market situation, there is an increase in disposable incomes of individual consumers as parents are observed to spend more on their children rather than in the past years due to several social factors. There has been a remarkable increase in the number of young working mothers over the past few years. This has been the main factor in boosting the growth of the infant food market, as these working mothers depend a lot on processed infant nutrition products. Also, the mothers, who are not able to form breast milk due to several medical reasons, prefer to use formula milk powder as it provides the maximum benefit to their babies. Global demand is rising due to the factor of rising awareness for healthier food among parents. Moreover, factors such as middle-class growth, rapid urbanization, and rising rates of female labour force participation in many developing markets have encouraged to the convenience-oriented lifestyles, further making prepared baby foods and formula more desirable. In developing countries, the need for infant nutrition products is growing with the growing number of the middle-class population.
However, in the global market, strict regulation for healthy food and increased awareness for substitute products like natural infant feeding are expected to hamper the growth of the market during the forecast period.