Global Infant Nutrition Market Size 2024, Forecast To 2033
6 Mar, 2024
The infant nutrition market size has grown strongly in recent years. It will grow from $35.29 billion in 2023 to $38.74 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to advancements in infant formula development, urbanization and changing lifestyles, healthcare professional recommendations, economic growth and affordability, government initiatives for child health. The infant nutrition market size is expected to see strong growth in the next few years. It will grow to $54.01 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to increasing focus on immune health, rising demand for organic and natural products, innovation in packaging and convenience, expansion of e-commerce in baby products, awareness of environmental impact. Major trends in the forecast period include innovations in formula ingredients, human milk oligosaccharides, plant-based infant nutrition, digitalization in parental education, clean label and transparency.
Global Infant Nutrition Market Key Driver
The increasing birth rate is expected to propel the growth of the infant nutrition market going forward. The birth rate refers to the proportion of live births to the general population per 1,000 people each year. The evolution of infant care food have attributed to rising family income levels and the rising birth rate, where consumers are always concerned about their kid's health and hygiene and prioritize high-quality items, resulting in the growth of the infant nutrition market. For instance, in July 2022, according to the 27th edition of the World Population Prospects, published by the United Nations, a US-based intergovernmental organization, the US birth rate reached 12.012 births per 1000 people, in 2022. Therefore, the increasing birth rate will drive the growth of the infant nutrition market.
Get A Free Sample Of The Global Infant Nutrition Market ReportGlobal Infant Nutrition Market Segments
The infant nutrition market covered in this report is segmented –
1) By Type: Infant Milk Formula, Follow-on-Milk, Specialty Baby Milk, Prepared Baby Food, Other Types
2) By Meal: Baby cereals, Baby snacks, Baby drinks, Other baby meals
3) By Distribution Channel: Hypermarkets/Supermarkets, Pharmacy/Medical Stores, Specialty Stores, Other Distribution Channel
By Geography:The regions covered in the infant nutrition market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the infant nutrition market in 2023, and is expected to be the fastest-growing region in the global infant nutrition market during the forecast period. The regions covered in the infant nutrition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Infant Nutrition Industry Players
Abbott Laboratories, Bellamy's Australia Limited, Danone SA, Royal FrieslandCampina NV, Reckitt Benckiser Group plc, Nestlé SA, Perrigo Company plc, The Kraft Heinz Company, Dana Dairy Group Ltd., Baby Gourmet Foods Inc., Walmart Inc., Meiji Group, Synutra International Inc., HiPP GmbH & Co. Vertrieb KG, Glanbia plc, Arla Foods, Gujarat Cooperative Milk Marketing Federation Ltd., Sun-Maid Growers of California Inc., Mead Johnson & Company LLC, Beingmate Group, Beech-Nut Nutrition Corporation, Feihe International, Campbell Soup Company, Hain Celestial Group Inc., Amara Organics Foods, Biostime Nutrition, Morinaga Milk Industry, Eurolactis Group, Bubs Australia Limited, The Hain Celestial Group Inc.
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Infant Nutrition Market Overview
Infant nutrition refers to the essential nutrition for a child's ongoing health from birth till adulthood. It is used to give infants the nourishment and energy they require to stay healthy.
Infant Nutrition Global Market Report 2023 provides data on the global infant nutrition market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The infant nutrition market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.