Infant Formula Market is to grow at a 10.5 % CAGR, according to Maximize Market Research

Infant Formula Market is expected to reach USD 366.23 Bn by 2032. The demand surge is primarily fueled by rising health awareness among parents, increasing female workforce participation, and a growing preference for premium infant nutrition products.

Market to Hit USD 366.23 Bn by 2032

Infant Formula Market was USD 164.76 Bn in 2025 and is expected to expand at a compound annual growth rate (CAGR) of 10.5% from 2025 to 2032, reaching USD 366.23 Bn by 2032. The European market was estimated to be worth USD 10.2 billion in 2024 and is expected to increase at a compound annual growth rate (CAGR) of 4.56% to reach USD 15.6 billion by 2033.  Due to the increased demand for premium newborn nourishment, the industry is expanding quickly, especially in North America and Europe. Key growth factors include the rising frequency of newborn malnutrition, which affects 149 million children under five (UNICEF, 2023), and the growing number of working moms, which has increased by 18% globally since 2015. Major industry participants that account for over 60% of worldwide market revenue are Nestle S.A., Abbott Laboratories, Reckitt Benckiser Group, Danone, and Mead Johnson Nutrition.  These businesses are making significant R&D investments; in 2023, Nestlé plans to invest USD 100 million to improve the ingredients in baby formula.

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Infant Milk segment of the Type segmentation dominates the largest market share in the overall Infant Formula Market

In 2024, infant milk formula was the most popular category, with 45% of the overall market share.  Due to rising consumer knowledge of baby nutrition and the growing birth rate of 140 million per year (World Bank, 2024), the category is still growing.  Product uptake has been further accelerated by recent developments in human milk oligosaccharides (HMO) formulations, which replicate the advantages of breast milk.

Carbohydrate segment of the ingredient’s segmentation dominates the largest market share in the overall Infant Formula Market

Lactose, the main element that makes about 70% of the total carbohydrates used in baby formula, is an essential component.  Due to the growing use of demineralized whey powder and maltodextrin, especially in Formula 2 (6–12 months) and Formula 3 (1-3 years), the carbohydrate category is anticipated to continue to dominate.

Market Regional Analysis

North America: The US accounts for 30% of the North American market, with sales of supermarkets and specialty shops expected to reach USD 10 billion by 2024.  As more people become aware of the benefits of organic and hypoallergenic baby formulae, demand is also rising in Canada and Mexico.

Europe: Strict regulations have led to steady expansion in France, Germany, and the UK.  The baby formula industry in Europe was estimated to be worth USD 30 billion in 2024 and is projected to expand at a compound annual growth rate (CAGR) of 7%.  Demand is also increasing in nations like Italy, Spain, and the Netherlands as a result of government programs that support infant nutrition.

Asia-Pacific: Due to increasing birth rates and rising baby feeding expenditures, China continues to be the largest consumer, accounting for more than 68% of the Asia-Pacific market share.  By 2032, the baby formula market in China is expected to grow to a value of USD 85 billion.  Rising urbanization and rising disposable incomes are driving market expansion in Australia, Japan, and India, three other important markets in the area.

Market Competitive Landscape

Nestle S.A. (Revenue: USD 96.2 billion, 2024) – Leading manufacturer of Enfamil and NAN infant formulas, focusing on organic and hypoallergenic variants. Recently launched an HMO-enhanced formula to improve infant gut health.

Abbott Laboratories (Revenue: USD 40.1 billion, 2024) – Specializing in Similac infant formula, with growing investment in R&D for improved digestion-friendly formulations. The company recently introduced a formula fortified with synbiotics to support immune function.

Danone S.A. (Revenue: USD 27.3 billion, 2024) – Market leader in dairy-based and organic infant nutrition, expanding market presence in Europe and Asia. Danone launched an advanced hydrolyzed protein formula for allergy-prone infants, expected to capture a 5% market share in specialized formulas.

Market Latest Trends and Developments:

• AI-driven customized infant formulas based on genetic profiling.
• The global plant-based infant formulas is expected to reach USD 12 billion by 2030.
• Online sales accounted for 28% of total market revenue in 2024, projected to reach 40% by 2030.
• Companies investing in eco-friendly packaging solutions, reducing plastic use by 30% across product lines.
• Stricter FDA and EU compliance standards influencing product formulations, ensuring safer, more natural ingredients.

Infant Formula Market Conclusion:

• Rising demand for premium, organic, and hypoallergenic formulas, increasing female workforce participation, and technological advancements in nutrition.
• Nestle, Abbott, and Danone are market leaders, investing heavily in R&D, plant-based formulas, and specialized nutrition.
• Increasing personalized nutrition trends, regulatory shifts, and e-commerce expansion will shape the industry’s trajectory.

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