Infant Nutrition Global Market Report 2024

The infant nutrition market has grown strongly in recent years. It will grow from $35.29 billion in 2023 to $38.74 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The expansion observed in the historical period can be attributed to factors such as advancements in infant formula development, urbanization, and changing lifestyles, recommendations from healthcare professionals, economic growth and improved affordability, as well as government initiatives focused on child health.

The infant nutrition market is expected to see strong growth in the next few years. It will grow to $54.01 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The anticipated growth in the forecast period can be attributed to an increasing focus on immune health, a rising demand for organic and natural products, innovations in packaging and convenience, the expansion of e-commerce in baby products, and growing awareness of environmental impact. Key trends expected in the forecast period involve innovations in formula ingredients, the incorporation of human milk oligosaccharides, the development of plant-based infant nutrition, digitalization in parental education, and an emphasis on clean label and transparency in product information.

The anticipated rise in the birth rate is poised to drive the growth of the infant nutrition market in the coming years. Birth rate signifies the percentage of live births per 1,000 people within the general population annually. The expansion of infant care products is attributed to increasing family incomes and a growing birth rate. Consumers, prioritizing their children's health and hygiene, opt for high-quality products, contributing to the expansion of the infant nutrition market. In July 2022, the United Nations reported a birth rate of 12.012 births per 1,000 people in the United States for the year 2022, emphasizing the ongoing increase in birth rates as a key driver for the infant nutrition market.

The burgeoning growth of e-commerce is expected to be a significant catalyst for the infant nutrition market. E-commerce, involving the online buying and selling of goods and services, plays a pivotal role in the infant nutrition industry. It offers conveniences such as accessibility, wide product selection, comparison shopping, trackable shipments, adaptability to consumer trends, and flexible payment options. Data from the United States Census Bureau in August 2023 revealed a 7.5% increase in e-commerce estimates for Q2 2023 compared to the previous quarter. The rising prevalence of e-commerce, accounting for 15.4% of all sales in Q2 2023, underlines its role in propelling the growth of the infant nutrition market.

Product innovation emerges as a prominent trend in the infant nutrition market, with major companies concentrating on innovating their products to maintain a competitive edge. In July 2022, Danone introduced the Dairy & Plants Adapt baby formula, catering to parents' preferences for primarily plant-based foods. This formula, designed for healthy infants, incorporates 60% plant-based protein, along with DHA, vegetable oil, and fibers sourced from plant origins.

Major companies in the infant nutrition market are actively pursuing advanced solutions, exemplified by Nestle S.A.'s launch of sinergity in October 2023. Sinergity, a product mimicking breast milk changes, combines a probiotic strain with various concentrations of six human milk oligosaccharides (HMOs). This innovative mixture is aimed at supporting healthy digestion, cognitive development, age-appropriate growth, and a robust immune system in infants, capitalizing on the synergistic effects of combining probiotics with HMOs.

In January 2021, Hero Group made an undisclosed acquisition of Baby Gourmet, a move expected to enhance Baby Gourmet's presence in North America. This acquisition includes the Slammers Snacks brand, a U.S. kid's snack brand with organic ingredients. The acquisition aligns with Hero Group's commitment to offering nutrient-dense, organic products for infants and expanding its portfolio to include cereals and organic snacks.

Major companies operating in the infant nutrition market report are Abbott Laboratories, Bellamy's Australia Limited, Danone SA, Royal FrieslandCampina NV, Reckitt Benckiser Group plc, Nestlé SA, Perrigo Company plc, The Kraft Heinz Company, Dana Dairy Group Ltd., Baby Gourmet Foods Inc., Walmart Inc., Meiji Group, Synutra International Inc., HiPP GmbH & Co. Vertrieb KG, Glanbia plc, Arla Foods, Gujarat Cooperative Milk Marketing Federation Ltd., Sun-Maid Growers of California Inc., Mead Johnson & Company LLC, Beingmate Group, Beech-Nut Nutrition Corporation, Feihe International, Campbell Soup Company, Hain Celestial Group Inc., Amara Organics Foods, Biostime Nutrition, Morinaga Milk Industry, Eurolactis Group, Bubs Australia Limited, The Hain Celestial Group Inc.

North America was the largest region in the infant nutrition market in 2023, and is expected to be the fastest-growing region in the global infant nutrition market during the forecast period. The regions covered in the infant nutrition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the infant nutrition market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of infant nutrition include infant milk formula, follow-on milk, specialty baby milk, prepared baby food, and other variations. Infant milk formula is a type of baby food specifically designed to offer complete nutrition for infants who are not breastfed or are only partially breastfed. It is available in powdered or liquid forms, formulated to replicate the nutritional composition of breast milk, encompassing proteins, carbohydrates, fats, vitamins, and minerals. The diverse range of infant nutrition meals includes baby cereals, baby snacks, baby drinks, and other baby meals. These products are distributed through various channels, including hypermarkets/supermarkets, pharmacy/medical stores, specialty stores, and other distribution channels.

The infant nutrition market research report provides infant nutrition market statistics, including infant nutrition industry global market size, regional shares, competitors with an infant nutrition market share, detailed infant nutrition market segments, market trends and opportunities, and any further data you may need to thrive in the infant nutrition industry. This infant nutrition market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The infant nutrition market consists of sales of growing-up milk, powder, liquid concentrate, and ready-to-feed formula. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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