Infant Formula Market is Ready to Rise at 8.5% CAGR Due to Adoption of Baby Milk… – Press Release


NEWARK, Del, Feb. 26, 2023 (GLOBE NEWSWIRE) — According to Future Market Insights (FMI), the infant formula market is likely to reach a value of US$ 49.9 billion in 2023. It is anticipated to surpass US$ 114.1 billion in 2033. Between 2023 and 2033, a robust CAGR of 8.5% is likely to propel market acceleration.

Infants need a variety of micronutrients for their overall development. Those micronutrients occur naturally in human milk. However, for preterm babies, human milk alone may not be sufficient in providing all the necessary micronutrients. This is where infant formulas can be helpful.

Infant formulas contain several micronutrients that make them similar to human milk. As a result, they are ideal for ensuring the proper physical and mental development of babies. Most infant formula companies use ingredients derived from cow’s milk such as whey and casein.

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However, certain babies may be allergic to casein and whey. For such babies, infant formulas derived from soy protein are ideal. Several baby formula manufacturers are also engaging in product innovations by deriving ingredients from plant-based sources.

FMI anticipates the United States, Germany, the United Kingdom, China, and India to dominate the global market for infant formula between 2023 and 2033. Across these countries, private and public players are taking firm initiatives to encourage adoption of infant formulas for supporting the development of babies.

From 2023 to 2033, the market is likely to encounter particular challenges as well. For instance, in rural parts of developing nations, people still shy away from using infant formulas and rely exclusively on breastfeeding.

Key Takeaways from the Report:

  • The global infant formula market is expected to reach a market valuation of US$ 114.1 billion in 2033.
  • A positive CAGR of 8.5% is likely to accelerate the market from 2023 to 2033.
  • The United States is…