Baby Milk & Infant Formula - Peru

Revenue in the Baby Milk & Infant Formula market amounts to US$243.90m in 2024. The market is expected to grow annually by 5.06% (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$7.03 are generated in 2024.
In the Baby Milk & Infant Formula market, volume is expected to amount to 13.15m kg by 2029. The Baby Milk & Infant Formula market is expected to show a volume growth of 4.2% 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

The Baby Milk & Infant Formula Market in Peru is experiencing slow growth due to factors such as declining birth rates and increasing breastfeeding rates. However, innovations in packaging and formulation are expected to drive the market in the coming years.

Customer preferences: In Peru, there has been a noticeable trend towards organic and natural baby milk and infant formula products, as parents are becoming more health-conscious and environmentally aware. Additionally, there has been a rising demand for plant-based options, driven by the growing vegan and vegetarian population in the country. This shift towards more sustainable and natural options is also influenced by the cultural importance placed on traditional and holistic practices in child rearing.

Trends in the market: In Peru, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is experiencing a surge in demand for organic and natural products. This trend aligns with the increasing awareness of health and wellness among parents, who are seeking healthier options for their infants. Additionally, there is a growing preference for locally sourced ingredients and sustainable packaging in the market. These trends signify a shift towards more conscious consumption and could lead to opportunities for industry stakeholders to cater to this demand through innovative and sustainable products.

Local special circumstances: In Peru, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is heavily influenced by the country's geographical and cultural factors. The mountainous terrain and rural areas make it challenging for mothers to breastfeed, leading to a high demand for baby milk and formula. Additionally, Peruvian culture places a strong emphasis on family, resulting in extended families often contributing to the care of infants. This dynamic creates a unique market for baby food products, with a focus on convenience and nutrition for both infants and their caregivers.

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. The growth of this market is closely tied to the overall economic performance of the country, as it is highly dependent on consumer spending and disposable income. Government policies, such as tax incentives and subsidies, also play a significant role in shaping the demand for baby milk and infant formula. Moreover, the increasing urbanization and rising middle-class population in Peru are expected to drive the growth of the market, as these factors result in higher purchasing power and changing consumer preferences for convenience and nutrition. However, factors such as inflation, currency fluctuations, and trade policies can also impact the market, creating challenges and opportunities for players in the industry.

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.