Baby Milk & Infant Formula - Greece

Revenue in the Baby Milk & Infant Formula market amounts to US$86.24m in 2024. The market is expected to grow annually by 4.37% (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$8.37 are generated in 2024.
In the Baby Milk & Infant Formula market, volume is expected to amount to 3.65m kg by 2029. The Baby Milk & Infant Formula market is expected to show a volume growth of 1.7% in 2025.0.
The average volume per person in the Baby Milk & Infant Formula market is expected to amount to 0.3kg 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

In Greece, the Baby Milk & Infant Formula Market within the Baby Food Market is seeing minimal growth due to factors such as low birth rates and a declining population. This is impacting the market's growth rate, despite the convenience and increasing health awareness among consumers.

Customer preferences: The Baby Milk & Infant Formula Market of the Baby Food Market within The Food market in Greece has seen a growing demand for organic and natural products. This trend is driven by the increasing awareness among parents about the benefits of organic ingredients for their babies' health. Additionally, with the rise of health-conscious consumers, there has been a shift towards plant-based and non-dairy alternatives in the baby food market. These preferences are influenced by the cultural emphasis on fresh and wholesome food, as well as the growing number of vegan and vegetarian parents in Greece.

Trends in the market: In Greece, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is experiencing a shift towards organic and natural products. This trend is driven by increasing consumer awareness of the potential health benefits of organic products for infants. Additionally, there is a growing preference for European-made products due to their perceived high quality and safety standards. This trend is expected to continue, with industry stakeholders investing in organic and natural product lines to cater to the evolving consumer demands and maintain their competitive edge in the market.

Local special circumstances: In Greece, the Baby Milk & Infant Formula market is heavily influenced by the country's cultural preference for traditional breastfeeding practices. This has led to a slower adoption of formula among Greek mothers compared to other European countries. Additionally, strict regulations on infant formula advertising and promotion have limited the market's growth. However, the market is expected to see some growth due to an increasing number of working mothers and rising disposable income.

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 consumer spending, government policies, and global economic trends. In countries with strong economic growth and increasing disposable incomes, the demand for baby milk and infant formula is expected to rise, as parents seek high-quality and convenient feeding options for their children. Additionally, favorable government policies and investments in healthcare infrastructure are also contributing to the growth of the market, as they support the production and distribution of safe and nutritious baby food products. However, economic downturns and fluctuations in exchange rates can negatively impact market performance, as consumers may opt for more affordable alternatives or reduce their overall spending on baby food products.

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.