Supplements and Infant Milk Formula for Travel Retail Market Report 2024

The supplements and infant milk formula for travel retail market size has grown rapidly in recent years. It will grow from $2.47 billion in 2023 to $2.77 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. During the historic period, growth can be linked to more families traveling with infants, a rising aging population, greater demand for specialty supplements, and increasing awareness.

The supplements and infant milk formula for travel retail market size is expected to see rapid growth in the next few years. It will grow to $4.46 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be traced to expanding health and nutrition education initiatives, a growing number of working mothers, and rising demand for health and wellness products. Key trends expected in this period include a heightened emphasis on environmentally friendly and sustainable formulations, convenient packaging solutions, collaborative partnerships, and integration of digital technologies.

The rising number of infants is expected to drive growth in the travel retail market for supplements and infant milk formulas. This demographic refers to children under one year old within a specific population or region. Increased birth rates and advancements in healthcare have contributed to higher survival rates among infants. Supplements and infant milk formulas play a critical role in providing essential nutrients necessary for their growth and development. For instance, in April 2024, data from Bliss.Org indicated a slight increase in preterm live births from 7.4% in 2020 to 7.6% in 2021. Similarly, the Office for National Statistics reported a rise from 7.4% to 7.5% during January 2023. Consequently, the growing infant population is a driving force behind the expansion of supplements and infant milk formulas in the travel retail market.

Key players in the travel retail market for supplements and infant milk formulas are innovating by introducing baby formula products that blend dairy with plant-based ingredients, addressing evolving consumer preferences and sustainability concerns. These formulas integrate dairy-based components with plant-based elements to offer a comprehensive nutritional profile suitable for infants. For example, in July 2022, Danone S.A. launched a dairy and plant blend infant formula. This product combines 60% non-GMO soy protein with 40% dairy protein sourced from casein and whey, supplemented with lactose, omega-3 DHA, and prebiotics. It provides complete nutrition for infants while meeting the increasing demand for plant-based feeding options among parents. Additionally, this blend boasts a 30% lower carbon footprint due to its plant-based ingredients and fully recyclable packaging, making it a sustainable choice for environmentally conscious consumers.

In May 2022, Danone S.A., a French food-products corporation, acquired Dumex for an undisclosed sum. This acquisition involved Danone agreeing to divest its 25% stake in Yashili and its 20% stake in the Inner Mongolia Dairy Joint Venture to Mengniu. Danone's objective is to enhance its local manufacturing capacities, streamline its portfolio, and reinforce its specialized nutrition division in the region. This move also aims to optimize its capital structure by reducing debt. Dumex, headquartered in China, specializes in providing infant and children's nutrition products, including supplements and infant milk formula for travel retail.

Major companies operating in the supplements and infant milk formula for travel retail market are Nestlé S.A., Pfizer Inc., Bayer AG, Abbott Laboratories, Danone S.A., Reckitt Benckiser Group plc, Amway Corporation, Glanbia plc, Herbalife Nutrition Ltd., Nature's Bounty Co., GNC Holdings Inc., Blackmores Limited, Swisse Wellness Group Pty Ltd, Vitabiotics Ltd., Hero Nutritionals LLC, Weider Global Nutrition, Elevit, Similac, Nutricia, Pediasure.

Europe was the largest region in the supplements and infant milk formula for travel retail market in 2023. The regions covered in the supplements and infant milk formula for travel retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the supplements and infant milk formula for travel retail market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Supplements and infant milk formula for travel retail encompass dietary supplements and baby formula specifically marketed and sold in travel-focused retail settings such as airports, duty-free shops, and in-flight stores. These products are designed to meet the nutritional needs of travelers seeking convenience and accessibility while maintaining their dietary routines and providing proper nutrition for infants during travel.

The primary categories within supplements and infant milk formulas for travel retail include supplements for adults and formulas for infants. Supplements are formulated to provide essential nutrients that may be lacking in regular diets. They come in various forms such as powders, liquids, and ready-to-feed options, distributed through supermarkets, convenience stores, pharmacies, online retailers, and other channels.

The supplements and infant milk formula for travel retail market research report is one of a series of new reports that provides supplements and infant milk formula for travel retail market statistics, including supplements and infant milk formula for travel retail industry global market size, regional shares, competitors with supplements and infant milk formula for travel retail market share, detailed supplements and infant milk formula for travel retail market segments, market trends and opportunities, and any further data you may need to thrive in the supplements and infant milk formula for travel retail industry. This supplements and infant milk formula for travel retail market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The supplements and infant milk formula for the travel retail market consist of sales of dietary supplements, herbal supplements, probiotics, hydration tablets, and energy and immune boosters. 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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