Infant Formula Market Size, Share, and Trends 2025 to 2034

Infant Formula Market Size and Forecast 2025 to 2034

The global infant formula market size accounted for USD 82.37 billion in 2024, and is anticipated to hit USD 90.47 billion by 2025, and is predicted to reach around USD 204.55 billion by 2034, growing at a CAGR of 9.52% from 2025 to 2034.

Infant Formula MarketKey Takeaway

• In terms of revenue, the market is valued at $90.47 billion in 2025.
  
• It is projected to reach $204.55 billion by 2034.
  
• The market is expected to grow at a CAGR of 9/52% from 2025 to 2034.
  
• The supermarkets distribution channel segment is poised to register growth at a 10.1% CAGR from 2024 to 2034.
• The online distribution channel segment is registering at a CAGR of 11.2% between 2024 and 2034.
• The North America infant formula market is growing at a steady CAGR of 4.8% from 2024 to 2034.

Asia Pacific Infant Formula Market Size and Growth 2025 to 2034

The Asia Pacific infant formula market size is projected at USD 63.33 billion in 2025 and is expected to be worth around USD 143.18 billion by 2034, at a CAGR of 10% from 2025 to 2034.

Asia-Pacific region accounted largest revenue share in 2023. The APAC market is mainly driven by strong demand stemming from high birth rates in countries such as China and India. Additionally, domestic industry and a greater reliance on imports amid growing demand for growth, quality and higher premiums. The presence of China, the largest consumer of baby and infant food products in the world, is contributing in bolstering the market growth. In addition, China's decision to abolish the "one-child" policy and increase the birth rate is expected to fuel the market growth.

• In Asia Pacific, China led the market owing to the surge in middle-class population and income, rapid urbanization, and the growing number of working mothers. Also, the withdrawal of the one-child policy and the deployment of the three-child policy has led to an increase in births optimizing the market growth further in the country.

North American infant formula demand is expected to grow at a steady growth rate during the forecast period. Additionally the US is expected to contribute the majority of infant formula sales in this region. The growing demand for organic baby formula has increased production by large companies, facilitating a growing demand across the country. The increase in the number of women entering the workforce and the demand for nutritious baby food are contributing to the growth in this region.

In North America, the U.S. dominated the market due to the changing lifestyles, rising awareness of infant nutrition, and technological innovations in formula composition. In addition, The Food and Drug Administration (FDA) plays a significant role in maintaining the manufacturing and safety of infant formula. The FDA ensures that this formula is safe and offers adequate nutrition for healthy infant growth.

France and Germany are expected to record healthy growth over the forecast period. France and Germany are the main producers and exporters in the global infant formula market. The growing demand for organic baby food has spurred demand for infant formula throughout Germany. The presence of nationally known companies, the infant formula industry is growing with the increasing popularity of online stores across the country. The growing penetration of online pharmacies and retail stores is facilitating the growing nationwide demand for infant formula. An increasing number of working mothers in Germany and France contribute to the increase in infant formula production. Thus, the aforementioned facts are contributing in driving the overall growth of the market in terms of value sales.

Europe is expected to grow at a notable rate over the forecast period. The growth of the region can be attributed to the rising disposable income, changing lifestyle changes, and an increasing middle-class population. Additionally, consumers in the region are seeking organic, high-quality, and specialized formulas, with those for specific dietary allergies and restrictions.

Infant Formula Market Growth Factors

Infant formula is specially designed formula for infants, preferably under one year of age. Many Governments Safety and Standards Agency of India (FSSAI), World Health Organization (WHO) and others have specific regulations to ensure high quality of products. Strict regulations on product quality are expected without hesitation. For example, in 2019, the FSSAI drafted new rules relating to standards for infant formula, milk substitutes for premature infants, and milk substitutes for infants.

The global infant formula market is projected to grow strongly due to the growing global demand for organic food for children under 5 years of age. The increasing cases of malnutrition in children and infants have spurred demand for infant formula.

An increasing number of working mothers around the world have encouraged baby food companies to introduce nutrient-rich supplements to ease the need for convenient nutrition. At the same time, companies are adopting environmentally friendly methods for packaging materials, which has increased the growth prospects of key companies.

Key companies including Nestlé SA, Danone and Abbott Nutrition are working to develop animal-free baby foods that contain the same nutrients as breast milk. Cases of stunting, malnutrition and increasing numbers of women unable to breastfeed have increased the demand for infant formulas globally.

Market Scope

Type Insights

The infant milk formula segment accounted largest revenue share in 2024 and is expected to dominate during the forecast period. The demand for infant formula segment is continuously growing as it is one of the key segments when there are no accepted alternatives in the market. The limited availability of convenient and nutrient-rich products has grown and created innovative products in the market. The growing prosperity of consumers towards their infants in the wide range of baby formulas available in the market.

However, the follow-on- milk segment is expected to witness the highest CAGR in global market in further milk preparation to mimic the nutritional function of breast milk due to its high protein, calcium, iron content and the growing market for infant formula. Additionally, with infants with low iron intake or poor weaning nutrition, subsequent milk requirements are expected to increase at a healthier rate.

Distribution Channel Insights

The supermarkets & hypermarkets segment accounted the highest revenue share of 41% in 2024. The market has witnessed rapid demand through supermarkets & hypermarkets channels. The separate sections for babies, product bundles, programs, discounts, offers and convenient shopping experiences for shoppers under one roof has increases the footfall for infant formula which in turn is contributing in fueling the growth of the overall market In terms of value sales.

However, the specialty store is expected to be the fastest growing segment during the forecast period. This is because the store offers a wide range of baby substitutes as well as other baby care products under one platform along with convenient way to shop with consumers to buy from specialty stores.

Infant Formula Market Companies

• Nestle S.A.
• Danone SA
• Abbott
• Yili Group
• The Kraft Heinz Company
• Bellamy's Organic
• Perrigo Company plc
• Reckitt Benckiser Group plc.
• Royal FrieslandCampina N.V.
• Arla Foods amba

Recent Developments

• In January 2025, the FDA announced a plan titled Long-Term National Strategy to Increase the Resiliency of the U.S. Infant Formula Market. It is designed to secure a safe, consistent, and diversified infant formula supply, addressing vulnerabilities exposed by the 2022 formula shortage that left shelves empty and families in crisis. (Source: https://www.techtarget.com)
  
• In April 2025, Bobbie announced its fourth infant formula since the company's launch in 2021: after three years of development, Bobbie Organic Whole Milk Infant Formula is here. As the first and only USDA Organic Whole Milk infant formula manufactured in America, this industry-first product redefines high-quality infant nutrition. (Source: https://www.businesswire.com)
  
• In February 2025, Iceland launched new infant formula labels in a bid to bring more clarity around products and help parents make informed choices. Partnering with infant feeding charity Feed, the move marks the latest step in the supermarket's joint campaign to reduce the cost of baby formula in the market.
• In February 2020, Else Nutrition, manufacturer and distributor of cleansing ingredients, plant-based nutritional products and organic toddler formulas formulated with an exclusive almond formula, buckwheat and tapioca.
• In August 2019, Danone Nutricia, a brand of Danone SA, launched a new product, Karicare Toddler with New Zealand sheep's milk in New Zealand.
• In January 2019, Arla Foods Elements, a subsidiary of Arla Foods amba, launched a safe food optimized for infants.
• Fats and Oils Specialist, Bunge Loders Croklaan (BLC), in January 2021, announced the launch of a new premium lipid ingredient for infant formula that claims to regenerate breast milk in flavor and taste.
• In March 2021, 108LABS announced its new animal-free infant formula, Colostrupedis, featuring cell-grown breast milk molecules derived from human breast cell agriculture and is formulated with the ability to extensively neutralize human secreted antibodies.

Segments Covered in the Report

By Type

• Infant Milk
• Follow-on-Milk
• Others

By Product

• Infant Formula
• First Infant Formula
• Follow-on Formula
• Growing-up Formula
• Specialty Baby Formula
• Baby Food
• Prepared Food
• Dried Food
• Other Baby Foods

By Distribution Channel

• Hypermarkets/Supermarkets
• Pharmacy/Medical Stores
• Specialty Stores
• Others

By Region

• North America
• Latin America
• Europe
• Asia-pacific
• Middle and East Africa