Global Breast Milk Substitutes Market: Future Demand, Market Analysis & Outlook to 2027
Developing nations like India and China are witnessing high birth rate lately. Meanwhile, rising emphasis on women empowerment and education have encouraged women to peruse new career options. With an increase in number of working women and growing birth rate, the breast milk substitutes market is anticipated to accrue sizable growth in the coming years. Moreover, Global Market Insights, Inc., suggests that breast milk substitutes market may surpass USD 119 billion mark by 2025.
Women nowadays seem to prefer infant formulas to support their child’s suboptimal growth and development. Companies meanwhile are involved in strategical activities like campaigns and advertisements to boost their product sales. However, strict regulations regarding the marketing of breast milk substitutes could restrain breast milk substitutes market growth over the forecast period.
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Infants often face difficultly digesting cow milk and soy-based formulae. As a viable alternative, women mostly opt for hypoallergenic breast milk substitutes for their child. This formula is suitable for infants suffering from eczema, food allergy and asthma. With growing acceptance, studies suggest that hypoallergenic substitute market may witness over 9% CAGR during the forecast timespan and reach USD 3.6 billion by 2025.
Based on formula, the breast milk substitute market is primarily segmented into concentrated liquid, powdered and ready-to-use formula. Of these, the ready-to-use market has recorded USD 24.2 billion in 2018. Features like high safety, convenience, and sterility has encouraged consumers to opt for such breast milk substitute formula. It also provides favorable time-effectivity to working women.
In 2018, distribution of breast milk substitute via retail stores accounted for more than 45% of the total market share. Factors like convenience offered to customers and product availability have majorly influenced this growth. With an increase in number of retail stores in developed as well as developing nations, the breast milk substitute market may accrue accelerated growth over the forecast time period.
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China was slated as one of the largest breast milk substitute markets in 2018. The regional industry is anticipated to grow at a rate of 11.4% given to high birth rate, low exclusive breastfeeding rate, and increasing adoption of infant formula. Increasing awareness regarding infant formula and lack of appropriate regulations may further likely drive China breast milk substitutes market growth.
The global breast milk market is highly competitive in nature. Some companies that are renowned in this industry include Abbott Nutrition, Mead Johnson (Reckitt Benckiser), Kraft Heinz, Danone, Nestle, among others. These firms are increasingly devised on strengthening their presence in emerging marketing. They are also leveraging numerous strategies like campaigns and advertisements to promote their products and widen their customer base.
Partial Chapter of the Table of Content
Chapter 3. Breast Milk Substitutes Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2014 - 2025 (USD Million)
3.3. Industry impact factors
3.3.1. Growth drivers
3.3.1.1. Increasing number of working-class women
3.3.1.2. Rising awareness and acceptance of infant formula especially in developing countries
3.3.1.3. Increasing spending by companies to market breast milk substitutes
3.3.1.4. Higher birth rate in developing countries coupled with rise in number of premium infant nutrition products
3.3.2. Industry pitfalls & challenges
3.3.2.1. Stringent regulation for marketing of breast milk substitutes
3.4. Growth potential analysis
3.4.1. By substitute type
3.4.2. By formula type
3.4.3. By distribution channel
3.5. Comparative analysis between breast milk and infant formulas
3.6. Regulatory landscape
3.7. Porter’s analysis
3.8. Competitive landscape, 2017
3.8.1. Company market share analysis
3.8.2. Brand analysis
3.8.3. Strategy dashboard
3.9. PESTEL analysis
Chapter 4. Breast Milk Substitutes Market, By Substitute Type
4.1. Key segment trends
4.2. Milk-based formula
4.2.1. Market size, by region, 2014 – 2025 (USD Million)
4.3. Soy-based formula
4.3.1. Market size, by region, 2014 – 2025 (USD Million)
4.4. Hypoallergenic formula
4.4.1. Market size, by region, 2014 – 2025 (USD Million)
4.5. Others
4.5.1. Market size, by region, 2014 – 2025 (USD Million)
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