Baby Milk & Infant Formula - Armenia

Armenia

Highlights

Revenue in the Baby Milk & Infant Formula market amounts to US$5.32m in 2024. The market is expected to grow annually by 3.84% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$17bn in 2024).
In relation to total population figures, per person revenues of US$1.92 are generated in 2024.
In the Baby Milk & Infant Formula market, volume is expected to amount to 276.70k kg by 2029. The Baby Milk & Infant Formula market is expected to show a volume growth of 1.1% in 2025.0.
The average volume per person in the Baby Milk & Infant Formula market is expected to amount to 0.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Baby Milk & Infant Formula Market in Armenia is experiencing negligible growth due to factors such as low birth rate and cultural preference for home-cooked meals. However, increasing health awareness and convenience of online shopping may drive growth in the future.

Customer preferences: As more mothers enter the workforce in Armenia, the demand for convenient and time-saving options for infant nutrition has increased. This has led to a rise in the popularity of ready-to-feed and powdered baby milk and infant formula. Additionally, there is a growing preference for organic and natural products, as well as a demand for fortified formulas that cater to specific dietary needs. This shift towards more convenient and specialized options is a reflection of changing lifestyles and increasing awareness about the importance of early childhood nutrition.

Trends in the market: In Armenia, the Baby Milk & Infant Formula Market within the Baby Food Market is experiencing a shift towards organic and natural products. This trend is driven by consumer demand for healthier options and concerns over the safety of conventional formulas. The trajectory of this trend is expected to continue, as parents increasingly prioritize the well-being of their children. This may have significant implications for industry stakeholders, as they may need to adapt their product offerings and marketing strategies to cater to this growing demand for organic and natural baby milk and infant formula. Additionally, there is a rising trend of online purchasing in Armenia, providing opportunities for companies to reach a larger customer base through e-commerce platforms. However, this also poses challenges for traditional brick-and-mortar retailers, who may need to enhance their online presence to remain competitive in the market.

Local special circumstances: In Armenia, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is heavily influenced by cultural traditions and preferences. Breastfeeding is highly valued and encouraged, leading to a lower demand for infant formula. Additionally, strict regulations and government subsidies for locally produced milk have limited the growth of the formula market. This unique combination of cultural and regulatory factors has resulted in a smaller and more niche market for baby milk and formula products in Armenia.

Underlying macroeconomic factors: The Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is influenced by macroeconomic factors such as consumer spending, population growth, and government policies. Countries with a growing middle class and rising disposable income are experiencing increased demand for premium baby formula products. In addition, government programs and initiatives promoting breastfeeding may negatively impact the market, while policies supporting the use of domestically produced baby formula can drive market growth. Overall, global economic trends and national economic health play a significant role in shaping the performance of the Baby Milk & Infant Formula Market in Armenia.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.