Baby Milk & Infant Formula - G7 | Statista Market Forecast

Revenue in the Baby Milk & Infant Formula market amounts to US$9.72bn in 2024. The market is expected to grow annually by 3.45% (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$12.49 are generated in 2024.
In the Baby Milk & Infant Formula market, volume is expected to amount to 334.90m kg by 2029. The Baby Milk & Infant Formula market is expected to show a volume growth of 1.3% in 2025.0.
The average volume per person in the Baby Milk & Infant Formula market is expected to amount to 0.4kg in 2024.

Definition:

Baby milk and infant formula are types of milk made specifically for infants and young children who are not yet able to consume solid food or who cannot be breastfed. They are also intended for children aged between 1 and 3 who do not get enough nutrients from their regular diet.

Baby milk is typically made from cow’s milk that has been modified to make it more easily digestible for babies. It may also contain added nutrients, such as vitamins and minerals, to ensure that infants or young children receive all the nutrients they need for healthy growth and development. Infant formula is specially designed to mimic the nutrient content of breast milk as closely as possible. Baby milk and infant formula may come in different forms, such as in powdered form, as a liquid concentrate, or in a ready-to-feed form.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram). The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption, out-of-home consumption is not included.

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Infant formula, such as Nestlé NAN PRO 1 Infant Formula, Aptamil Gold Infant Formula Milk Powder for Babies, Similac Advance Infant Formula, and Nestlé LACTOGEN 1 Infant Formula Powder
Baby milk, such as Milupa Milupino for 1–3-year-old toddlers and Aptamil Pronutra 1+

Milk and milk products intended for adult consumption, such as Danone’s dairy drinks
Milk substitutes (soy-based) for babies and infants
Out-of-home consumption

The Baby Milk & Infant Formula Market in the G7 region is experiencing a negligible growth rate due to factors such as declining birth rates and increasing concerns about the safety and quality of formula products. However, the market is expected to see some growth due to the convenience of online shopping and increasing health awareness among parents.

Customer preferences: The Baby Milk & Infant Formula Market within the Baby Food Market is witnessing a growing demand for organic and natural options, as parents become more health-conscious and environmentally aware. This trend is further fueled by the increasing number of millennial parents who prioritize wholesome and sustainable products for their children. Additionally, there is a rising demand for lactose-free and plant-based infant formulas, catering to the needs of babies with specific dietary needs and preferences.

Trends in the market: In the G7 countries, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is seeing a surge in demand for organic and natural products, driven by growing health consciousness among consumers. This trend is expected to continue, with an increasing focus on clean label and sustainable sourcing. Additionally, there is a rise in online sales of baby food products, as more parents opt for the convenience of home delivery. This shift towards e-commerce is likely to shape the competitive landscape in the coming years, as companies invest in digital marketing and direct-to-consumer strategies.

Local special circumstances: In G7 countries, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is heavily influenced by strict regulations and guidelines set by government agencies. The market is also shaped by cultural norms and preferences, with a strong emphasis on organic and natural products. In addition, geographical factors such as climate and availability of resources also play a role in shaping the market. For example, in Japan, the market is driven by a high demand for premium and high-quality products, while in France, there is a strong preference for locally sourced and artisanal products.

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 patterns, population growth, and government policies and regulations. Countries with a high birth rate and increased consumer spending on baby products are experiencing steady growth in the market. On the other hand, regions with declining birth rates and strict regulations on baby food and formula are facing challenges in market growth. The global economic slowdown and fluctuations in exchange rates also impact the purchasing power of consumers, ultimately affecting the demand for baby food products. Additionally, fiscal policies such as tax incentives and subsidies for baby food manufacturers can also have a significant impact on the market.

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.