Baby Milk & Infant Formula - NAFTA

NAFTA

Highlights

Revenue in the Baby Milk & Infant Formula market amounts to US$7.63bn in 2024. The market is expected to grow annually by 3.44% (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$14.95 are generated in 2024.
In the Baby Milk & Infant Formula market, volume is expected to amount to 228.40m 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 0.4kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Baby Milk & Infant Formula Market in NAFTA is experiencing slow growth due to various factors such as declining birth rates and increasing health concerns about the use of formula. Despite this negligible growth, convenience and changing lifestyles continue to drive the market.

Customer preferences: Shifts in consumer preferences have led to a growing demand for organic and natural baby milk and infant formula products. Parents are increasingly concerned about the quality and safety of the products they feed their babies, leading them to opt for brands that use only natural ingredients and have transparent sourcing and production processes. This trend is also driven by a rising awareness of the potential health risks associated with artificial additives and preservatives in traditional formula.

Trends in the market: In the NAFTA region, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is experiencing a trend towards organic and natural products. With consumers becoming increasingly health-conscious, there is a growing demand for baby food products that are free from artificial ingredients and preservatives. This trend is expected to continue, with a projected annual growth rate of 10.5% in the organic baby food market in North America. This shift towards natural baby food has significant implications for industry stakeholders, as companies will need to adapt their product offerings and marketing strategies to cater to this emerging trend. Additionally, there is a growing concern over the environmental impact of traditional baby food packaging, leading to a rise in sustainable and eco-friendly packaging options in the market.

Local special circumstances: In Mexico, the Baby Milk & Infant Formula Market is heavily influenced by cultural preferences for breastfeeding and a strong emphasis on traditional food preparation methods. This has resulted in a slower adoption of commercial baby food products compared to other markets. In Canada, strict regulations on advertising and labeling of baby food products have created a highly competitive market with a focus on quality and natural ingredients. These factors have shaped the dynamics of the Baby Food Market within The Food market, making it unique from other markets in the NAFTA region.

Underlying macroeconomic factors: The Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is greatly impacted by macroeconomic factors such as changing consumer preferences, government regulations, and economic stability. Countries with strong economies and favorable regulatory environments, such as those in NAFTA, are experiencing higher growth in the market due to increased consumer spending. Additionally, investments in healthcare infrastructure and advancements in technology are driving the demand for high-quality infant formula products. The increasing birth rates and rising disposable income in these countries are also contributing to the growth of the market. On the other hand, regions with economic challenges and strict regulatory policies may experience slower growth in the market due to limited consumer purchasing power and barriers to entry for new products. Overall, global economic trends and national economic health play a significant role in shaping the performance of the Baby Milk & Infant Formula Market within The Food 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.