NEW YORK, July 11, 2023 /PRNewswire/ -- The baby food and infant formula market size is set to grow by USD 34,378.13 million between 2022 and 2027. The market will register a CAGR of 6.96%, according to Technavio's latest market research report estimates. The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Some of the major vendors of the baby food and infant formula market include Abbott Laboratories, Beingmate Co. Ltd., Danone SA, GreenSpace Brands Inc., HiPP GmbH and Co. Vertrieb KG, Nestle SA, Reckitt Benckiser Group PLC, Emirates Industry for Camel Milk and Products, Fonterra Cooperative Group Ltd., The Kraft Heinz Co., Gujarat Cooperative Milk Marketing Federation, Hero Group, Ausnutria Dairy Corp. Ltd., LACTALIS Group, Meiji Holdings Co. Ltd., Campbell Soup Co., PZ Cussons Plc, Ellas Kitchen Brands Ltd., and Else Nutrition Holdings Inc. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ vendors operating in the market. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the baby food and infant formula market are designed to provide entry support, customer profile & M&As, as well as go-to-market strategy support. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read our Sample Report
Vendor Offerings
- Abbott Laboratories: The company offers baby food and infant formula under SIMILAC.
- Beingmate Co. Ltd.: The company offers baby food and infant formula under the brand names Beingmate Love Plus, Sohomin, and Beingmate Green Love.
- Danone SA: The company offers baby food and infant formula under the brand names Protinex Vanilla, Protinex Mango, Protinex Bytes, Aptamil Preterm, Dexolac Premium, Dexolac Hi KAL, and others.
The report also covers the following areas:
- Baby Food and Infant Formula Market size
- Baby Food and Infant Formula Market trends
- Baby Food and Infant Formula Market industry analysis
Baby Food and Infant Formula Market 2023-2027: Segmentation
The baby food and infant formula market is segmented as follows:
- Product
- Infant Formula
- Baby Food
- Type
- Milk Formula
- Dried Baby Food
- Prepared Baby Food
- Others
- Geography
- APAC
- Europe
- North America
- South America
- Middle East And Africa
The infant formula segment will be significant for market growth during the forecast period. Owing to the increasing number of working mothers and the growing health awareness among customers, the segment is experiencing growth momentum. Moreover, infant formula products are made from modified cow milk and are infused with vitamins, minerals, carbohydrates, and vegetable oils. For instance, they contain iron, which aids in preventing anemia. Infant formula products are available in two forms, namely ready-to-feed liquid infant formula and powdered infant formula. Hence, such factors boost the segment growth during the forecast period.
Detailed insights on the impact of each segment and make informed business decisions, download a sample report!
Key Drivers- The launch of new products drives the growth of the baby food and infant formula market during the forecast period. The launches not only help increase the revenue flow of companies but also expands their consumer base. They provide a competitive advantage to players and help them increase their market share. For instance, in March 2021, Hochdorf launched goat milk infant formula for its Bimbosan brand, while in January 2021, Bunge Loders Croklaan (BLC) launched a premium liquid ingredient for baby formula. This allows manufacturers to adjust to regional differences in mother's milk. In April 2020, Nestle SA Gerber launched Good Start A2 Toddler Drink and Gerber Good Start A2 Infant Formula, which contain easy-to-digest A2 B-casein protein. Hence, such launches boost the growth of the market during the forecast period.
Significant Trends- The increasing demand for organic baby food products is an emerging market trend.
Major Challenges- The increasing number of product recalls hinders the market growth during the forecast period.
What's New?
- Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
- Global competitiveness and key competitor positions
- Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!
Baby Food and Infant Formula Market 2023-2027: Key Highlights
- CAGR of the market during the forecast period 2023-2027
- Detailed information on factors that will assist baby food and infant formula market growth during the next five years
- Estimation of the baby food and infant formula market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the baby food and infant formula market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of baby food and infant formula market vendors
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Baby Food And Infant Formula Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.96% |
Market growth 2023-2027 |
USD 34,378.13 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.91 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 30% |
Key countries |
US, Canada, China, Japan, India, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Beingmate Co. Ltd., Danone SA, GreenSpace Brands Inc., HiPP GmbH and Co. Vertrieb KG, Nestle SA, Reckitt Benckiser Group PLC, Emirates Industry for Camel Milk and Products, Fonterra Cooperative Group Ltd., The Kraft Heinz Co., Gujarat Cooperative Milk Marketing Federation, Hero Group, Ausnutria Dairy Corp. Ltd., LACTALIS Group, Meiji Holdings Co. Ltd., Campbell Soup Co., PZ Cussons Plc, Ellas Kitchen Brands Ltd., and Else Nutrition Holdings Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global baby food and infant formula market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Global baby food and infant formula market 2017 - 2021 ($ million)
- 4.2 Product Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)
- 4.3 Type Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Product
- 6.1 Market segments
- Exhibit 30: Chart on Product - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Product - Market share 2022-2027 (%)
- 6.2 Comparison by Product
- Exhibit 32: Chart on Comparison by Product
- Exhibit 33: Data Table on Comparison by Product
- 6.3 Infant formula - Market size and forecast 2022-2027
- Exhibit 34: Chart on Infant formula - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Infant formula - Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Infant formula - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Infant formula - Year-over-year growth 2022-2027 (%)
- 6.4 Baby food - Market size and forecast 2022-2027
- Exhibit 38: Chart on Baby food - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Baby food - Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Baby food - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Baby food - Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Product
- Exhibit 42: Market opportunity by Product ($ million)
7 Market Segmentation by Type
- 7.1 Market segments
- Exhibit 43: Chart on Type - Market share 2022-2027 (%)
- Exhibit 44: Data Table on Type - Market share 2022-2027 (%)
- 7.2 Comparison by Type
- Exhibit 45: Chart on Comparison by Type
- Exhibit 46: Data Table on Comparison by Type
- 7.3 Milk formula - Market size and forecast 2022-2027
- Exhibit 47: Chart on Milk formula - Market size and forecast 2022-2027 ($ million)
- Exhibit 48: Data Table on Milk formula - Market size and forecast 2022-2027 ($ million)
- Exhibit 49: Chart on Milk formula - Year-over-year growth 2022-2027 (%)
- Exhibit 50: Data Table on Milk formula - Year-over-year growth 2022-2027 (%)
- 7.4 Dried baby food - Market size and forecast 2022-2027
- Exhibit 51: Chart on Dried baby food - Market size and forecast 2022-2027 ($ million)
- Exhibit 52: Data Table on Dried baby food - Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Chart on Dried baby food - Year-over-year growth 2022-2027 (%)
- Exhibit 54: Data Table on Dried baby food - Year-over-year growth 2022-2027 (%)
- 7.5 Prepared baby food - Market size and forecast 2022-2027
- Exhibit 55: Chart on Prepared baby food - Market size and forecast 2022-2027 ($ million)
- Exhibit 56: Data Table on Prepared baby food - Market size and forecast 2022-2027 ($ million)
- Exhibit 57: Chart on Prepared baby food - Year-over-year growth 2022-2027 (%)
- Exhibit 58: Data Table on Prepared baby food - Year-over-year growth 2022-2027 (%)
- 7.6 Others - Market size and forecast 2022-2027
- Exhibit 59: Chart on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 60: Data Table on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 61: Chart on Others - Year-over-year growth 2022-2027 (%)
- Exhibit 62: Data Table on Others - Year-over-year growth 2022-2027 (%)
- 7.7 Market opportunity by Type
- Exhibit 63: Market opportunity by Type ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 65: Chart on Market share by geography 2022-2027 (%)
- Exhibit 66: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 67: Chart on Geographic comparison
- Exhibit 68: Data Table on Geographic comparison
- 9.3 APAC - Market size and forecast 2022-2027
- Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 9.4 Europe - Market size and forecast 2022-2027
- Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.5 North America - Market size and forecast 2022-2027
- Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.6 South America - Market size and forecast 2022-2027
- Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 9.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 9.8 US - Market size and forecast 2022-2027
- Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.9 China - Market size and forecast 2022-2027
- Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.10 Germany - Market size and forecast 2022-2027
- Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 9.11 Japan - Market size and forecast 2022-2027
- Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)
- 9.12 India - Market size and forecast 2022-2027
- Exhibit 105: Chart on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 106: Data Table on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 107: Chart on India - Year-over-year growth 2022-2027 (%)
- Exhibit 108: Data Table on India - Year-over-year growth 2022-2027 (%)
- 9.13 Canada - Market size and forecast 2022-2027
- Exhibit 109: Chart on Canada - Market size and forecast 2022-2027 ($ million)
- Exhibit 110: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
- Exhibit 111: Chart on Canada - Year-over-year growth 2022-2027 (%)
- Exhibit 112: Data Table on Canada - Year-over-year growth 2022-2027 (%)
- 9.14 Market opportunity by geography
- Exhibit 113: Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 114: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 115: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 116: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 117: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 118: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 119: Matrix on vendor position and classification
- 12.3 Abbott Laboratories
- Exhibit 120: Abbott Laboratories - Overview
- Exhibit 121: Abbott Laboratories - Business segments
- Exhibit 122: Abbott Laboratories - Key news
- Exhibit 123: Abbott Laboratories - Key offerings
- Exhibit 124: Abbott Laboratories - Segment focus
- 12.4 Ausnutria Dairy Corp. Ltd.
- Exhibit 125: Ausnutria Dairy Corp. Ltd. - Overview
- Exhibit 126: Ausnutria Dairy Corp. Ltd. - Business segments
- Exhibit 127: Ausnutria Dairy Corp. Ltd. - Key offerings
- Exhibit 128: Ausnutria Dairy Corp. Ltd. - Segment focus
- 12.5 Beingmate Co. Ltd.
- Exhibit 129: Beingmate Co. Ltd. - Overview
- Exhibit 130: Beingmate Co. Ltd. - Product / Service
- Exhibit 131: Beingmate Co. Ltd. - Key offerings
- 12.6 Campbell Soup Co.
- Exhibit 132: Campbell Soup Co. - Overview
- Exhibit 133: Campbell Soup Co. - Business segments
- Exhibit 134: Campbell Soup Co. - Key offerings
- Exhibit 135: Campbell Soup Co. - Segment focus
- 12.7 Danone SA
- Exhibit 136: Danone SA - Overview
- Exhibit 137: Danone SA - Business segments
- Exhibit 138: Danone SA - Key news
- Exhibit 139: Danone SA - Key offerings
- Exhibit 140: Danone SA - Segment focus
- 12.8 Ellas Kitchen Brands Ltd.
- Exhibit 141: Ellas Kitchen Brands Ltd. - Overview
- Exhibit 142: Ellas Kitchen Brands Ltd. - Product / Service
- Exhibit 143: Ellas Kitchen Brands Ltd. - Key offerings
- 12.9 Else Nutrition Holdings Inc.
- Exhibit 144: Else Nutrition Holdings Inc. - Overview
- Exhibit 145: Else Nutrition Holdings Inc. - Product / Service
- Exhibit 146: Else Nutrition Holdings Inc. - Key offerings
- 12.10 Emirates Industry for Camel Milk and Products
- Exhibit 147: Emirates Industry for Camel Milk and Products - Overview
- Exhibit 148: Emirates Industry for Camel Milk and Products - Product / Service
- Exhibit 149: Emirates Industry for Camel Milk and Products - Key offerings
- 12.11 Fonterra Cooperative Group Ltd.
- Exhibit 150: Fonterra Cooperative Group Ltd. - Overview
- Exhibit 151: Fonterra Cooperative Group Ltd. - Business segments
- Exhibit 152: Fonterra Cooperative Group Ltd. - Key news
- Exhibit 153: Fonterra Cooperative Group Ltd. - Key offerings
- Exhibit 154: Fonterra Cooperative Group Ltd. - Segment focus
- 12.12 GreenSpace Brands Inc.
- Exhibit 155: GreenSpace Brands Inc. - Overview
- Exhibit 156: GreenSpace Brands Inc. - Product / Service
- Exhibit 157: GreenSpace Brands Inc. - Key offerings
- 12.13 HiPP GmbH and Co. Vertrieb KG
- Exhibit 158: HiPP GmbH and Co. Vertrieb KG - Overview
- Exhibit 159: HiPP GmbH and Co. Vertrieb KG - Product / Service
- Exhibit 160: HiPP GmbH and Co. Vertrieb KG - Key offerings
- 12.14 LACTALIS Group
- Exhibit 161: LACTALIS Group - Overview
- Exhibit 162: LACTALIS Group - Product / Service
- Exhibit 163: LACTALIS Group - Key offerings
- 12.15 Nestle SA
- Exhibit 164: Nestle SA - Overview
- Exhibit 165: Nestle SA - Business segments
- Exhibit 166: Nestle SA - Key news
- Exhibit 167: Nestle SA - Key offerings
- Exhibit 168: Nestle SA - Segment focus
- 12.16 Reckitt Benckiser Group PLC
- Exhibit 169: Reckitt Benckiser Group PLC - Overview
- Exhibit 170: Reckitt Benckiser Group PLC - Business segments
- Exhibit 171: Reckitt Benckiser Group PLC - Key offerings
- Exhibit 172: Reckitt Benckiser Group PLC - Segment focus
- 12.17 The Kraft Heinz Co.
- Exhibit 173: The Kraft Heinz Co. - Overview
- Exhibit 174: The Kraft Heinz Co. - Business segments
- Exhibit 175: The Kraft Heinz Co. - Key offerings
- Exhibit 176: The Kraft Heinz Co. - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 177: Inclusions checklist
- Exhibit 178: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 179: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 180: Research methodology
- Exhibit 181: Validation techniques employed for market sizing
- Exhibit 182: Information sources
- 13.5 List of abbreviations
- Exhibit 183: List of abbreviations
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