Baby Milk & Infant Formula - Mongolia

Revenue in the Baby Milk & Infant Formula market amounts to US$13.64m in 2024. The market is expected to grow annually by 5.96% (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$3.90 are generated in 2024.
In the Baby Milk & Infant Formula market, volume is expected to amount to 971.40k 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 0.2kg 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 Mongolia is experiencing subdued growth, impacted by factors such as low birth rates and a declining population. Despite this, the market continues to see growth due to increasing health awareness and the convenience of online purchasing.

Customer preferences: As Mongolia experiences rapid urbanization and modernization, there has been a growing demand for convenience and premium products in the Baby Milk & Infant Formula Market. This trend is driven by the increasing number of working mothers and their preference for ready-to-use, fortified baby formula. Additionally, there has been a rise in health-consciousness among parents, leading to a demand for organic and natural ingredients in baby food products. This has also led to the emergence of online shopping platforms for baby products, catering to the busy lifestyles of modern parents.

Trends in the market: In Mongolia, the Baby Milk & Infant Formula Market within the Baby Food Market is seeing a trend towards organic and natural products. This is driven by the increasing awareness and demand for healthier options among parents. Additionally, there is a growing preference for locally sourced ingredients, leading to the emergence of domestic players in the market. These trends are expected to continue in the future, with potential implications for industry stakeholders such as increased competition and the need for innovation in product offerings.

Local special circumstances: In Mongolia, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is heavily influenced by the nomadic lifestyle of the population. Due to the vast and remote nature of the country, there is a high demand for long-lasting and easily transportable baby food products. Additionally, the traditional nomadic diet of dairy and meat products has led to a preference for dairy-based infant formula. The government also plays a significant role in regulating the market, with strict rules on labeling and advertising of baby food products.

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 relevant financial indicators. The performance of this market is greatly impacted by the overall economic conditions of a country, as well as the policies and regulations that govern the food and beverage industry. Additionally, consumer spending and disposable income play a significant role in determining the demand for baby milk and infant formula products. Furthermore, government initiatives to improve healthcare infrastructure and promote nutrition for infants and young children can also drive market growth. Conversely, economic downturns and unstable economic conditions can negatively impact market performance and consumer purchasing power.

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.