Standard Milk Formula Market
Standard Milk Formula Market by Product (Liquid, Powder, Concentrate, Ready-To-Feed Standard Milk Formula), by Flavour (Unflavoured, Vanilla, Strawberry, Chocolate Standard Milk Formula), by Nature, by Packaging Type, by Sales Channel & by Region - Global Insights to 2031
Analysis of Standard Milk Formula market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Market Outlook for Standard Milk Formula
The global standard milk formula market is likely to witness steady growth, anticipated to reach US$ 28.2 Bn by 2031.
Prominent players like Nestle SA, Groupe Danone, The Kraft Heinz Company, Friesland Campina, and Abbott Nutrition contribute nearly 60% of revenue share in the global standard milk formula market.
Market Size (2021)
US$ 16.99 Bn
Projected Market Value (2031)
US$ 28.2 Bn
Value CAGR (2021-2031)
Market Share of Top 5 Market Players
Key Companies Profiled
Revenue from Standard Milk Formula Industry from 2016 to 2020 Compared to Demand Outlook for 2021 to 2031
From 2016 to 2020, demand for standard milk formula grew at a CAGR of around 4%. Growth has been largely attributed to an increased reliance on infant formula as a convenient substitute to milk. Additionally, requirement of extra nutrients, especially across the developing world, has augmented popularity of standard milk formulae.
During the COVID-19 pandemic, sales of standard milk formula remained elevated, attributed to the increased focus on infant health. Fears of the infection spreading to infants compelled parents to purchase increased quantities of additional infant supplements, which led to enhanced availability of different categories of standard milk formulae.
Future market demand is reliant on extensive emphasis on infant and prenatal care. As countries strive to improve child development and healthy growth, manufacturers are expanding their footprints across key geographies, leading to heightened sales of standard milk formula products. According to Fact.MR, the market is likely to surge at a CAGR of 5.2% from 2021-2031.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
How is the Introduction of Probiotics Spurring Standard Milk Formula Demand?
Probiotics have been gaining significant traction in the wellness and nutrition sector across the globe. Probiotics, essentially live healthy bacteria, are being introduced in the infant formula space, on the back of their potential health benefits.
Moreover, favourable government initiatives, especially across emerging countries like China, India, have heightened the approval of infant formula. Consumers now conscious regarding the ingredients and label of content have compelled the companies to come up with clean-label manufacturing. Additionally, the advent of probiotics in infant milk formula have increased faith on these products especially of Gen Z and young parents, as they contain nutritional ingredients approved by Food & Drug Administration.
The inclusion of probiotics in standard milk formula can promote bacteria balance in the infant’s intestines in turn offsetting the development of unhealthy organisms, particularly in babies in the age group of 0-6 months. Probiotics addition is likely to enhance the demand for standard milk formula, particularly among working women, in turn complementing the growth of the standard milk formula market.
What are the Key Market Trends & Growth Opportunities in Standard Milk Formula Market?
Therapeutic milk formula F-75 and F-100 are strategic products used by UNICEF and partners in nutritional feeding programmes aimed at decreasing under-five child mortality from severe acute malnutrition (SAM). UNICEF procures F75 and F-100 for the inpatient treatment of children with complicated SAM primarily in emergencies. Hence provides lucrative revenue earning opportunity.
Interest in mimicking the nutrition of breast milk continues to drive innovation in the infant nutrition category, with human milk oligosaccharides (HMOs) as the hero ingredient. Globally, new baby formula/milk launches with HMO ingredients grew more than tenfold between 2018 and 2019. With increased awareness of the role of HMOs in supporting immune system development, this trend is expected to continue.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
Why Does the North America have a Prominent Hand in Driving the Standard Milk Formula Market?
North America is projected to govern the standard milk formula market, contributing nearly 47% throughout the forecast period. According to Fact.MR, there are more than 50 different baby formula available in U.S. Parents can chose among formulas made from conventional or organic milk or soy; they can also opt to try formulas labelled for fussy, gassy or colicky babies.
The Food and Drug Administration (FDA) dictates the nutrients and vitamins, and set the strict rules about how formula is produced, packaged, and labelled. Additionally, the American Academy of Paediatrics (AAP) suggests using cow's milk-based formulas, when possible, rather than soy-based formulas. Currently, Soy formulas accounts for about 40% of formula sales in the United States.
Multiple health organizations, including the World Health Organization, the American Academy of Paediatrics, endorse breastfeeding as the optimal form of nutrition for infants for the first year of life. However, the vast majority of infants in the United States are fed human milk substitutes by 6 months of age. This food source, although inferior to human milk in multiple respects, promotes more efficient growth, development, and nutrient balance than commercially available cow milk.
Why Standard Milk Formula is Observing Escalating Demand in APAC Region?
In terms of revenue, APAC region is the fastest leading market owing to augmented awareness offered by baby infant formula such as it facilitates healthy growth & development of babies, improves cognitive performance & development, prevents them from allergies, and enhances gastrointestinal health & immunity. The Asia-Pacific baby infant formula market size is estimated to reach the valuation of nearly US$ 26.2 Bn, following a CAGR of 9.2% over the forecast period.
This market growth is attributed to upsurge in number of working women, who majorly prefer infant milk for their babies, since breastfeeding is not always a feasible option for them. Moreover, many working women resume at work shortly after giving birth, which makes them opt for alternatives, such as infant milk, to feed their child in emerging countries like India & China. Considering the aforementioned factors, APAC region accounts for a significant share of nearly 33% in 2021 and is likely to escalate in upcoming future.
Which Type of Product is Highly Preferred in Standard Milk Formula Market?
The global demand for powder standard milk formula has substantially amplified over the years, due to upswing in awareness about the benefits offered by infant formula such as it is free from artificial hormones & toxic pesticides and is highly nutritious. Besides, prolonged shelf life of powder infant products, changes in socio-economic factors, and improvement in standard of living owing to significant increase in disposable income are the key factors that augment the growth of the baby infant formula market.
Moreover, the changing lifestyle of women professional has created a necessity for convenience baby products to cater the requirement of necessary nutrition for the infant and fulfil the needs of vitamins & minerals. Powdered standard milk formula serves the purpose with an easy to prepare formula for such parents for whom the breastfeeding isn’t a feasible option at the workplace.
Gerber- a key manufacturer claims that Good Start SoothePro has the “gentleness of breast milk” and helps with anything from excessive crying episodes to fussiness and gas. It contains just 30 percent lactose, which the brand says may ease baby’s stomach (though research into this is lacking). It also contains a blend of prebiotics and probiotics.
Which Sales Channel is Mostly Preferred in Standard Milk Formula Market?
Online platforms are transforming the retail sector, consequently providing potential avenues for producers of standard milk formula to market their products across tier II cities. With e-commerce on the rise, online platforms have facilitated significant growth in sales of standard milk formula, consequently influencing the growth of the standard milk formula market in emerging economies.
For instance, standard milk formula producers in China are adopting e-commerce platforms to enhance product sales. Moreover, with the introduction of the two-child policy in China coupled with rising milk rates, dairy producers faced a shrinking market share.
Don't Need a Global Report?
save 40%! on Country & Region specific reports
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions to expand their market ground.
- 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.
Key Segments Covered
- Liquid Standard Milk Formula
- Powder Standard Milk Formula
- Concentrate Standard Milk Formula
- Ready-To-Feed Standard Milk Formula
- Unflavoured Standard Milk Formula
- Vanilla Standard Milk Formula
- Strawberry Standard Milk Formula
- Chocolate Standard Milk Formula
- Other Flavored Standard Milk Formula
- Standard Milk Formula in Cans
- Standard Milk Formula in Aseptic Cartons
- Standard Milk Formula in Bottles & Jars
- Standard Milk Formula in Pouches
- Standard Milk Formula in Other Packaging Types
- Conventional Standard Milk Formula
- Organic Standard Milk Formula
- Standard Milk Formula Sales via Modern Trade
- Standard Milk Formula Sales via Specialty Stores
- Standard Milk Formula Sales via Online Stores
- Standard Milk Formula Sales via Pharmacy Stores
- Standard Milk Formula Sales via Other Sales Channels
- FAQs -
As of 2021, the standard milk formula market is estimated to reach nearly US$ 17 Bn
From 2016 to 2020, sales of standard milk formula expanded at around 4% CAGR
According to fact.MR, the standard milk formula industry is projected to grow at a CAGR of 5.2% until 2031
The advent of probiotics in infant milk formula have increased faith on these products especially of Gen Z and young parents, as they contain nutritional ingredients approved by Food & Drug Administration.
The Asia Pacific market is projected to register a CAGR of 9.3% during the forecast period.
Nestle S.A., Groupe Danone, Kraft Heinz Company, Abbott Nutrition Manufacturing Inc., Mead Johnson Nutrition, among others.
The organic standard milk formula segment is the fastest-growing segment in the market.