Global Baby Food and Infant Formula Market to Reach US$ 67.6 Billion by 2028, Stimulated by Rising Parental Concerns Regarding Child Nutrition

June 19, 2023 | Food & Beverages

According to the latest report by IMARC Group, titled “Baby Food and Infant Formula Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global baby food and infant formula market size reached US$ 48.5 Billion in 2022. Baby food refers to soft, mashed, and easy-to-consume food that is prepared to meet the nutritional needs of infants and young children who are transitioning from breast milk. It is specifically formulated to provide the necessary nutrients, vitamins, and minerals required for healthy growth and development during the early stages of life. On the other hand, infant formula is a commercially prepared substitute for breast milk that is intended for infants who are not breastfed or who require supplementation. It is a nutritionally balanced product that is comprised to resemble the composition of breast milk. It is available in different forms, such as powder or liquid, and can be prepared by mixing it with water. Both contain proteins, carbohydrates, fats, vitamins, minerals, and other essential nutrients necessary for growth and development.

Global Baby Food and Infant Formula Market Trends:

The growing awareness regarding the nutritional requirements of children among parents is majorly driving the global market. Along with this, rapid urbanization and changing lifestyles have led to an increase in the number of working parents, creating a greater need for convenient and ready-to-use baby food and infant formula products. On account of the rising emphasis on health and wellness, several leading players are developing products that are free from artificial additives, preservatives, and genetically modified ingredients, thus providing a boost to the market. In line with this, continual technological advancements in manufacturing processes have improved the safety, quality, and shelf life of baby food and infant formula is creating a positive market outlook. Apart from this, rising instances of allergies and health concerns among infants are propelling the demand for specialized baby food and infant formula products. Furthermore, the widespread availability of baby food and infant formula across various organized distribution channels, such as hypermarkets, supermarkets, and retail stores, is impacting the market favorably. Other factors, such as increasing emphasis on early nutrition and long-term health and increasing product diversification and customization, are also influencing the market. Looking forward, the market value is projected to reach US$ 67.6 Billion by 2028, expanding at a CAGR of 5.52% during 2023-2028.

Market Summary:

Based on the type, the market has been segmented into milk formula, dried baby food, prepared baby food, and other baby food. Currently, milk formula represents the largest market segment.
On the basis of the distribution channel insights, the market has been divided into supermarkets and hypermarkets, pharmacies, convenience stores, and others. Among these, supermarkets and hypermarkets exhibit a clear dominance in the market.
Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. At present, Asia Pacific holds the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being Abbott Nutrition, Nestlé S.A., Danone S.A., Mead Johnson & Company, LLC, and Kraft Heinz Company.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Type, Distribution Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	Abbott Nutrition, Nestlé S.A., Danone S.A., Mead Johnson & Company, LLC. and Kraft Heinz Company
Customization Scope	10% Free Customization
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Global Baby Food and Infant Formula Market to Reach US$ 67.6 Billion by 2028, Stimulated by Rising Parental Concerns Regarding Child Nutrition

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