Baby Milk & Infant Formula - Thailand

Revenue in the Baby Milk & Infant Formula market amounts to US$1.10bn in 2024. The market is expected to grow annually by 3.90% (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$15.32 are generated in 2024.
In the Baby Milk & Infant Formula market, volume is expected to amount to 64.23m kg by 2029. The Baby Milk & Infant Formula market is expected to show a volume growth of 2.4% in 2025.0.
The average volume per person in the Baby Milk & Infant Formula market is expected to amount to 0.8kg 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 Thailand is experiencing stagnant growth due to factors such as declining birth rates and increasing awareness of breastfeeding benefits. Convenience of online options and health consciousness still contribute to this market's growth.

Customer preferences: As more Thai mothers enter the workforce, demand for baby milk and infant formula has risen, leading to a growing market for convenient and on-the-go packaging. Additionally, there is a growing preference for organic and natural options, as health consciousness and environmental concerns drive purchasing decisions. This trend is also reflected in the increasing popularity of online shopping for baby food products, as busy parents seek convenience and a wider selection of options.

Trends in the market: In Thailand, the Baby Milk & Infant Formula Market within the Baby Food Market is experiencing a shift towards organic and natural products. This trend is driven by growing health consciousness among parents and concerns about the safety of conventional formula. Additionally, there is an increasing demand for premium products, with a focus on ingredients sourced from trusted and transparent suppliers. This trend is expected to continue, presenting opportunities for industry players to expand their product offerings and cater to the evolving preferences of consumers. It also highlights the need for companies to prioritize transparency and safety in their supply chain to maintain consumer trust.

Local special circumstances: In Thailand, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is heavily influenced by cultural factors. Breastfeeding is highly encouraged and deeply ingrained in Thai culture, leading to a lower demand for infant formula. However, with the increasing number of working mothers and urbanization, the market is seeing a shift towards convenience and affordability, driving the demand for infant formula. Additionally, strict regulations on marketing and labeling of infant formula products also play a significant role in shaping the market dynamics in Thailand.

Underlying macroeconomic factors: The Baby Milk & Infant Formula Market of the Baby Food Market within The Food market in Thailand is heavily influenced by macroeconomic factors such as the country's economic health, government policies, and global economic trends. The rise in disposable income and changing lifestyles are fueling the demand for convenience and premium baby food products. Additionally, government initiatives aimed at promoting breastfeeding and regulating the marketing of infant formula are impacting market performance. The growing population and increasing urbanization are also driving the demand for infant formula in the country.

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.