- Press Release -

The global standard milk formula market is anticipated to reach US$ 28.2 Bn, expanding at a CAGR of 5.2% across the 2021-2031 forecast period. The market for standard milk formula is likely to remain influenced by increasing demand for premium nutrition products for infants, backed by a rising percentage of working women across the globe.

From 2016 to 2020, demand for infant milk formula expanded at a CAGR of around 4%. During the COVID-19 pandemic, there was heightened emphasis on boosting the immunity of infants and children, lest the infection spread amongst them. This led to a significant spike in sales of standard milk formula products, along with other important nutritional and immunity boosting supplements.

Given the increase in the proportion of working professionals, parents are especially relying on milk substitutes, as busy work schedules often leave no time for mothers to feed their babies with breast milk. This is expected to majorly influence demand in the forthcoming forecast period. The top 5 key players are likely to capture market share of nearly 60% in 2021.

Key Takeaways from the Market Study

• Global standard milk formula market to reach US$ 16.99 Bn by the end of 2021
• By nature, organic standard milk formula products to experience high uptake
• North America is anticipated to account for 47% market share in the global market
• APAC to emerge as the fastest growing region, forecast to register a CAGR of 9.2%
• Powdered standard milk formula products to be most widely consumed, growing at 5% CAGR
• By sales channel, online standard milk formula sales to generate US$ 3.5 Bn in value

“Interest in mimicking the nutrition of breast milk continues to drive innovation in the infant nutrition category globally throughout the forecast period.” comments a Fact.MR analyst

Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.

• In January 2021, Fats and oils specialist Bunge Loders Croklaan (BLC) has unveiled a new premium lipid ingredient for baby formula which it claims allows manufacturers to get closer than ever before to the gold standard of mother’s milk.
• In November 2020, Abbott launched its first instant formula in Canada with ingredient identical to immune component in breast milk.

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the standard milk formula market, presenting historical demand data (2016-2020) and forecast statistics from 2021 to 2031.

The study divulges essential insights on the market based on product type (liquid, powder, concentrate and ready-to-feed), flavor (unflavoured, vanilla, strawberry, chocolate and other), packaging type (cans, aseptic cartons, bottle & jars, pouches and other types), nature (conventional and organic) and sales channel (modern trade, specialty stores, online stores, pharmacy stores and other sales channel) across five regions (North America, Europe, Latin America, Asia Pacific, and Middle East and Africa).

About the Food & Beverage Division at Fact. MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned food and beverage team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analyzed food & beverage industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

Nandini Roy Choudhury

Fact.MR

Sr. Consultant – Food and Beverages

E-mail: nandini@factmr.com