October 2023
23 Jul 2024
The global infant formula ingredients market revenue was valued at USD 20.81 billion in 2023 and is poised to grow from USD 22.78 billion in 2024 to USD 56.46billion by 2034, at a CAGR of 9.5% during the forecast period 2024 – 2034. In recent times, the number of working women has been growing in several countries, causing the growth of the infant formula ingredients market.
Infant formula ingredients are the components available in infant formula that are used to feed infants in place of breast milk. These are the ingredients that contain all the necessary compounds required for the growth and development of infants. Infant formula manufacturers claim that it contains an equal amount of nutrition as breast milk.
The formulas generally available in the market contain whey protein and casein, which is a protein present in cow’s milk. Both these are blended with vegetable oil, which acts as a source of fats; for carbohydrates, lactose is used, and then all other ingredients are added to fulfill the requirement for macronutrients and micronutrients. Several strict rules are designed by FSSAI and WHO for the formation of formula milk, which every manufacturer needs to follow to maintain infant health and immunity. In several studies, it is found that many children born recently are lactose intolerant. For such children, lactose-free formula milk is also available in the infant formula ingredients market.
Awareness of infant nutrition drives the infant formula ingredients market
With rising awareness regarding the nutritional fulfillment of children at an early stage of life, nowadays, most parents prefer infant formula as it is considered to be the most reliable source for their children's growth and development. This is becoming normalized in urban areas due to several factors, such as breastfeeding employment and lifestyle changes. Continuous research and improvement in the quality of products influence parents to use infant formula for their children. Some of the necessary carbohydrates present in human milk are oligosaccharides. To provide several health benefits and improve gut health, companies try to incorporate HMOs in their product.
In recent years, the consumption of clean, labeled, and plant-based organic products has been increasing rapidly. The rising population of infants results in a huge number of consumers and hence drives the infant formula ingredients market. This market is majorly driven by people's concern regarding the importance of providing nutrition-rich food to their children at an early age. The rising source of income allows parents to choose premium feeding options, and the growing number of working mothers is also one of the major reasons that contribute to the growth of the market.
Due to such strict rules and regulations, several documentation steps become time-consuming as well as costly and result in limiting the infant formula ingredients market despite difficult supervisory morals and worth control actions, occurrences of contamination, tarnishing, or security breaks have happened earlier, causing consumer worry and distrust. High-profile recollections or opposing measures associated with infant formula products can dull brand status and weaken consumer self-assurance in the safety and dependability of such products.
| Report Attribute | Key Statistics |
| Market Revenue in 2024 | USD 22.78 Billion |
| Market Revenue by 2034 | USD 56.46 Billion |
| Market CAGR | 9.5% from 2024 to 2034 |
| Quantitative Units | Revenue in USD million/billion, Volume in units |
| Largest Market | Asia Pacific |
| Base Year | 2023 |
| Forecast Period | 2024 to 2034 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Recent Development by Bobbie
Recent Development by Else Nutrition Holdings Inc.
Asia-Pacific dominated the infant formula ingredients market in 2023 due to the increasing number of working mothers and development in the countries. The rising economically well-doing inhabitants in countries such as India and China have caused the development of the request for infant formula products, manipulating the requirement for excellent infant formula ingredients. Furthermore, government inventiveness endorsing child nourishment and the growing consciousness of the positioning of infant health have additionally driven the development of the market in the area.
Europe held the second-largest share of the infant formula ingredient market in 2023. In Germany, the usual infant formula is predicted to be the most capable section of the market. This country seems to be the second major manufacturer of such infant formula products in Europe. Therefore, the typical infant formula product section is predicted to drive noteworthy requests for formula products over the predicted period.
North America is predicted to notice the fastest growth during the forecast period due to fast urbanization, which will result in growing sales of infant formula ingredients. As town centers remain expanding, there is a rapid surge in the requirement for suitable and nourishing infant formula products. This demand is mainly noticeable in some major countries of the North American region, where existing likings and emerging nutritional habits influence the requirement for high-quality infant formula products. With such features, the region is aware of strong development in the infant formula ingredients market.
Rising approval of FDA for infant formula ingredients products
The infant formula ingredients market is observing prominent growth due to getting quick approvals for product launches from the FDA. This supervisory process helps companies fulfill their promise to ensure the quality and safety of infant formula products. With the approval of the FDA, producers can surely include these ingredients in the composition, improving the nutritional quality and suitability of infant formula products. This growth also shows an inclination toward more ground-breaking and effective manufacturing processes and the assembly of customers' growing requests for suitable nourishing formulas. Additionally, FDA commendation offers reliability to such ingredients, nurturing confidence among customers and healthcare experts.
Market Segmentation
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