Baby Milk & Infant Formula - Finland

Finland

Highlights

Revenue in the Baby Milk & Infant Formula market amounts to US$36.31m in 2024. The market is expected to grow annually by 3.33% (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$6.54 are generated in 2024.
In the Baby Milk & Infant Formula market, volume is expected to amount to 1.28m 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 0.2kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Baby Milk & Infant Formula Market in Finland is experiencing minimal growth due to factors such as declining birth rates and increasing awareness of breastfeeding benefits. Online sales and convenience have also impacted the market's growth rate.

Customer preferences: Growing concerns about food safety and nutrition have led to a rise in demand for organic and natural ingredients in baby milk and infant formula products in Finland. Parents are increasingly opting for products with clean labels and no artificial additives, reflecting a shift towards healthier and more sustainable options for their children. Additionally, there has been a rise in demand for plant-based and lactose-free formulas, catering to the dietary needs and preferences of a diverse consumer base.

Trends in the market: In Finland, the Baby Milk & Infant Formula Market of the Baby Food Market is experiencing a rise in demand for organic and natural products, as well as products formulated for specific dietary needs. This trend is significant as it reflects a growing consumer preference for healthier options and a greater emphasis on transparency and sustainability in the industry. As a result, industry stakeholders may need to adapt their product offerings and marketing strategies to stay competitive in this evolving market. Additionally, there is a growing focus on online sales and delivery services, allowing for convenient access to these products.

Local special circumstances: In Finland, the Baby Milk & Infant Formula Market of the Baby Food Market has been heavily influenced by the country's strict regulations on advertising and marketing of infant formula. This has led to a highly competitive market, with manufacturers focusing on product innovation and quality to attract consumers. Additionally, Finland's high standards for food safety and quality have resulted in a strong demand for organic and natural baby food products. The country's high income levels and high rate of working mothers have also contributed to the growth of the market, as parents are willing to pay a premium for convenient and nutritious baby food options.

Underlying macroeconomic factors: The Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. For instance, countries with strong economic growth and favorable fiscal policies are likely to experience higher demand for baby milk and infant formula products, as consumers have more disposable income to spend on premium products. Additionally, the increasing birth rates and growing middle-class population in emerging economies are also driving the demand for baby milk and infant formula, as these products are considered essential for infant nutrition and development. Furthermore, government support and investments in healthcare infrastructure are also crucial in ensuring the availability and affordability of these products, especially in developing countries. On the other hand, economic downturns and unstable financial conditions can negatively impact the market, as consumers may opt for more affordable alternatives or reduce their overall spending. Overall, the performance of the Baby Milk & Infant Formula Market is closely tied to the macroeconomic landscape, making it essential for companies to closely monitor and adapt to these factors in order to stay competitive.

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.