Baby Milk & Infant Formula - Philippines

Revenue in the Baby Milk & Infant Formula market amounts to US$977.40m in 2024. The market is expected to grow annually by 4.08% (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$8.21 are generated in 2024.
In the Baby Milk & Infant Formula market, volume is expected to amount to 57.40m kg by 2029. The Baby Milk & Infant Formula market is expected to show a volume growth of 1.9% 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 Philippines is experiencing slow growth due to low consumer awareness and competition from traditional baby food. Factors such as changing dietary patterns and increasing disposable income are expected to drive growth in the future.

Customer preferences: The growing awareness of the importance of early childhood nutrition has led to an increase in demand for organic and natural ingredients in baby milk and infant formula. Parents are also becoming more conscious of the source and production process of these products, opting for locally sourced and ethically made options. As sustainability and health-consciousness continue to gain importance, manufacturers are adapting their offerings to cater to these changing preferences.

Trends in the market: In the Philippines, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is experiencing a rise in demand for organic and natural products. This trend is driven by increasing health consciousness among parents and concerns over the safety and quality of traditional formulas. Additionally, there is a growing preference for locally-sourced ingredients and sustainable packaging. These trends are expected to continue, leading to potential challenges for industry players to adapt and innovate in order to meet consumer demands and maintain competitive advantage.

Local special circumstances: In the Philippines, the Baby Milk & Infant Formula Market holds significant potential due to the country's high birth rate and increasing urbanization. However, the market faces challenges such as low breastfeeding rates and cultural preferences for formula feeding. Additionally, strict government regulations on formula advertising and pricing also impact market dynamics. These factors contribute to a unique market landscape that requires tailored strategies for success.

Underlying macroeconomic factors: The growth of the Baby Milk & Infant Formula Market in the Philippines is influenced by various macroeconomic factors, such as the country's economic stability and growth, consumer purchasing power, and government policies. As a developing economy, the Philippines has a growing middle class with increasing disposable income, leading to a higher demand for premium baby food products. Additionally, the government's initiatives to promote breastfeeding and regulate the sale of baby formula have also impacted market performance. Furthermore, global trends such as rising health consciousness and the increasing number of working mothers have also contributed to the growth of the market. These factors, along with the country's growing population, make the Philippines a lucrative market for baby milk and infant formula 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.