Worldwide Demand for Breast Milk Substitutes Is Anticipated To Reach US$ 45.1 Billion By 2032

According to Fact.MR, a market research and competitive intelligence provider, the global breast milk substitute market is estimated at US$ 18.4 billion in 2022 and is expected to expand at an impressive CAGR of 9.4% during the forecast years of 2022-2032.

A vast majority of the women in the U.S. are self-employed and the number working women in the country is almost 4X to that of Eastern countries. With a busy work life schedule and less maternity leaves, mothers are unable to breastfeed their babies as much as they would like to. In such cases, breast milk substitutes serve as the best alternative for working mothers. As such, the increasing trend of working class women worldwide will propel the demand for breast milk substitutes over the coming years.

Download Free Sample Copy of This Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=7652

Preference for infant formula to accomplish the desired development, nourishment, and growth of babies by parents is increasing. This, in turn, is guiding the accelerated manufacturing of breast milk substitutes, thereby driving the market. Additionally, rising per capita disposable income across the world is enhancing the affordability of breast milk substitutes, which ultimately increases product demand and sales across the globe.

Guidelines created by the World Health Assembly (WHA) Code regarding the marketing strategy of breast milk substitutes is further expected to boost sales growth over the coming years.

Which Factor Can Dent Breast Milk Substitute Market Expansion?

With recent innovations and growing awareness about the consumption of breast milk substitutes for infant nutrition among pregnant women and mothers, key manufacturers are developing products with additional nutritional supplements. Products that are promoted by key players via various means add revenue to the company.

However, the adoption of the International Code of Marketing of Breast Milk Substitutes (IC) by the World Health Assembly (WHA) has had a negative impact on the sales of breast milk substitutes. IC prohibits unethical advertising and promotion of breast milk substitutes and encourages manufacturers to advocate the importance of safe and adequate nutrition for infants by supporting and encouraging breastfeeding among mothers.

Key Takeaways from Breast Milk Substitute Market Study

• The global breast milk substitute market is projected to expand at an impressive CAGR of 9.4% and be valued at US$ 45.1 billion by 2032.
• The market expanded at 6.4% CAGR from 2017 to 2021.
• Under the formula segment, cow milk protein dominates the market and is valued at US$ 11.6 billion in 2022.
• East Asia dominated the global market with 37.3% market share in 2021.
• Demand for breast milk substitutes is expected to increase at CAGRs of 10.7% and 11.2%, respectively, in East Asia and South Asia & ASEAN.

Get Customization on this Report for Specific Research Solutions – https://www.factmr.com/connectus/sample?flag=RC&rep_id=7652

Key Segments Covered in the Breast Milk Substitute Industry Survey

• By Formula :
  • Cow Milk Protein
  • Soy-based Formula
  • Hydrolyzed Formula
  • Others (Goat Milk, Fruits & Vegetables)

• By Form :
  • Powder
  • Liquid

• By Consumer Age :
  • Below 6 Months
  • 6-23 Months

• By Distribution channel :
  • Online
    • Brand Websites
    • e-commerce Platforms
  • Offline
    • Retail Stores
    • Pharmacies
    • Supermarkets/Hypermarkets
• By Region :
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA

For In-Depth Competitive Analysis, Buy now – https://www.factmr.com/checkout/7652

Market Development

Despite the challenging state of the economy, the competitive landscape in the market for breast milk substitutes still exhibits expansion. Key market heroes are competing to secure dominance in the breast milk substitute market, such as Nestle, Fonterra, and Danone.

Furthermore, market players are taking efforts to increase their customer base by focusing on the production of safe and efficient breast milk substitutes across regions. The powdered form of breast milk substitutes has established a benchmark, attracting new entrants into the market. Key market players are adopting various strategies such as partnerships, mergers & acquisitions, R&D investments, and product launches to acquire a competitive edge over others and strengthen their position in the global market.

Key players in the Breast Milk Substitute Market

• Nestle
• Abbott
• Danone
• Fonterra
• Heinz
• Cow & Gate
• HiPP
• Kendamil
• Mead Johnson Nutrition

Explore Fact.MR’s Coverage on the Food & Beverages Domain-

Tahini Market– Global tahini market will accelerate at a value CAGR worth 6% from 2021-2031. By the end of the aforementioned forecast period, sales of tahini are likely to reach US$ 3.2 Bn. As of 2021, tahini sales are expected to be valued at US$ 1.8 Bn, with the Middle East & Africa expected to capture over 4/5th of the global revenue.

Liquid Dietary Supplements Market– The global market for liquid dietary supplements is forecast to be valued at US$ 39.2 Bn by 2021-end, expected to further accelerate to US$ 92.8 Bn by the end of the 2021-2031 forecast period.

Microparticulated Whey Protein Market– Most recent released report on the global microparticulated whey protein market by Fact.MR evaluates that the market accounted for US$ 302.3 Mn in 2021, and is expected to witness noticeable growth at a CAGR of 8.3% to touch a valuation of US$ 670.4 Mn by 2031.

Flavor Enhancers Market– Flavor enhancers market, According to the study, the market is anticipated to reach US$ 3.3 Bn by 2021. In the long haul, prospects appear further optimistic, with the industry expected to reach US$ 5.4 Billion by the end of the assessment period 2021-2031.

Snacks Market– Global demand for snacks is expected to proliferate at a CAGR of 6.5% from 2021 to 2031, according to a recently published study by Fact.MR. By the end of the aforementioned forecast period, the market is likely to be valued at US$ 751 Bn, with consumer inclining towards organic snacks consumption. By 2021-end, demand for snacks is expected to reach US$ 400 Bn.

About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

Tags: Breast Milk Substitute Market