U.S. Baby Infant Formula Market to Reach $6.9 Billion, by 2032 at 5.7% CAGR: Allied Market Research
The increase in amount of women participation in labor force and high nutritional content of infant formula are the factors that are driving the growth of U.S. baby infant formula market.
Wilmington, Delaware, Nov. 09, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “U.S. Baby Infant Formula Market by Product Type (Infant Milk, Follow-On Milk, Specialty Baby Milk, and Growing-Up Milk), Ingredients (Carbohydrate, Fat, Protein, Minerals, Vitamins, and Others), Distribution Channel (Hypermarkets, Supermarkets, Pharmacy/Medical Stores, Specialty Stores, Hard Discounter Stores and Others) and Source (Regular, Organic, Milk with HMO, Goat Milk, Plant Based Formula, and Others), Opportunity Analysis and Industry Forecast, 2023-2032“. According to the report, the U.S. baby infant formula market was valued at $3,962.7 million in 2022, and is projected to reach $6,973.7 million by 2032, registering a CAGR of 5.7% from 2023to 2032.
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Prime determinants of growth
The U.S. baby infant formula market is driven by factors such as increase in number of women participation in labor force and high nutritional content of infant formula. However, concerns related to food safety and government initiatives to promote breastfeeding restrict the market growth. Moreover, surge in demand for organic and natural products and extensive research on prebiotic and probiotics in baby food offer new opportunities in the coming years.
Report coverage & details:
|Market Size in 2022||$3,962.7 million|
|Market Size in 2032||$6,973.7 million|
|No. of Pages in Report||176|
|Segments covered||Product Type, Ingredients, Distribution Channel, Source, and Region|
|Drivers||Increase in number of women participation in labor force High nutritional content of infant formula|
|Opportunities||Surge in demand for organic and natural products Developments in technology result in emergence of new products Extensive research on prebiotic and probiotics in baby food|
|Restraints||Concerns related to food safety Government initiatives to promote breastfeeding|
The infant milk segment to maintain its leadership status throughout the forecast period
Based on product type, the infant milk segment dominated the market in 2022 accounting for less than three-fifths of the market share and is expected to dominate the market during the forecast period. Owing to its composition of vitamins, minerals, prebiotics, and higher levels of iron than other formulas to compensate for nutritional deficiencies, which may occur in the transition phase of infant nutrition. In addition, it is enriched with vitamin D and calcium for normal growth and development of bones. However, growing-up milk segment is projected to manifest the highest CAGR of 6.5% from 2023 to 2032,
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The carbohydrate segment to maintain its lead position during the forecast period
On the basis of the ingredients, the carbohydrate segment dominated the market in 2022 accounting for less than three-fifths of the market share and is expected to maintain its dominance during the forecast period. Carbohydrates are an important source of energy for growing infants, as they account for almost 40% of their daily energy intake. In most cow milk-based formulas, lactose is the key source of carbohydrates. Lactose may benefit the gut microbiota and help in absorption of calcium.
The hypermarkets segment to maintain its leadership status throughout the forecast period
Based on distribution channel, the hypermarkets segment dominated the market in 2022 accounting for less than one-third of the market share and is expected to dominate the market during the forecast period. However, hard discounter stores segment is projected to manifest the highest CAGR of 6.9% from 2023 to 2032, owing to its convenience offered by these retail formats. Moreover, the facilities such as multiple product assortment available under one roof adds to its popularity. Hard discounter stores also offer products for lower prices and sometimes have the option of home delivery.
The regular segment to maintain its lead position during the forecast period
On the basis of the source, the regular segment dominated the market in 2022 accounting for more than one-third of the market share and is expected to maintain its dominance during the forecast period. The highest market share of the regular segment is attributed towards inclination of consumers towards conventional infant formulas, and when it comes to the infant’s health parents are very keen on trusting the conventional products over new products as they do not want to take unwanted health risks. Another factor that keeps regular formulas over organic and other formulas is its cost is comparatively cheaper than the organic formulas.
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Leading Market Players: –
- Abbott Laboratories
- Arla Foods Amba
- Aussie Bubs
- Campbell Soup Company
- Dana Dairy Group Ltd.
- Danone SA
- Else Nutrition Holdings Inc.
- Hipp GmBH & Co. Vertrieb KG
- Holle Baby Food AG
- Kabrita USA
- Nature’s One, LLC
- Nestle S.A
- Reckitt Benckiser Group Plc.
- The Hain Celestial Group, Inc.
The report provides a detailed analysis of these key players in the U.S. baby infant formula market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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