Market Overview:
The global breast milk substitute market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing awareness about the benefits of breastfeeding, rising number of working women, and growing demand for premium products. Based on type, the milk-based formula segment is expected to account for the largest share of the global breast milk substitute market in 2018. This segment is also projected to grow at a higher CAGR than other segments during the forecast period.
Product Definition:
A breast milk substitute is a food product intended to replace human breast milk for feeding infants. The World Health Organization recommends that all infants be exclusively breastfed for the first six months of life, with continued breastfeeding until at least two years old and beyond if desired. However, in cases where breastfeeding is not possible or not recommended, infant formula can serve as a safe and healthy alternative to breast milk.
Milk-based formula:
Milk-based formula is a substitute for breast milk. It contains all the ingredients that are present in breast milk and has been used as an alternative to breastfeeding owing to various factors such as allergies, intolerance, lactose intolerance or other milk protein based deficiencies in the infant. The major factor responsible for market growth is increasing awareness among mothers regarding health issues including protein deficiency diseases among infants caused by lack of breastfeeding.
Soy-based formula:
Soy-based formula is a substitute for human milk and can be used as an alternative to breast milk. Soy-based formula is made from soybean, which is one of the most common plant sources in the world. Soybeans are available in various forms including edamame, tofu, textured vegetable protein (TVP), and soymilks.
Application Insights:
Based on application, the market is segmented into pharmacies, retail stores and others. The pharmacies held the largest share of over 60.0% in 2017 owing to high product availability at low prices as compared to other retailers. This segment is expected to continue its dominance over the forecast period owing to factors such as increasing healthcare awareness among mothers and demand for convenience products among working class women in emerging economies including China and India.
The retail stores are projected to be fastest-growing application at a CAGR of XX% from 2018 to 2030 due mainlyto growing substitution towards soy-based formulas by manufacturers due largelyto consumer preference for animal milk protein based products among infants younger than 12 months old coupled with rising awareness about healthy food habits amongst consumers especially in developed regions like North America and Europe will drive this growth during the forecast period.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This can be attributed to increasing awareness about breast milk substitutes, rising disposable income of mothers, and availability of a wide range of products in this region. Asia Pacific is anticipated to witness significant growth over the forecast period owing to an increase in spending capacity among working class people and rising number of nuclear families with two or more working parents.
The industry has witnessed high demand across European countries such as Germany, U.K.
Growth Factors:
- Increasing awareness about the benefits of breast milk substitutes among parents and health professionals.
- Rising disposable income of middle-class families in developing countries.
- Growing number of working mothers who are unable to breastfeed their infants due to time constraints.
- Availability of a wide variety of breast milk substitutes in both offline and online retail channels.
- Increasing number of celebrity endorsements for various brands of breast milk substitutes
Scope Of The Report
Report Attributes
Report Details
Report Title
Breast Milk Substitute Market Research Report
By Type
Milk-based formula, Soy-based formula, Hypoallergenic formula, Others,
By Application
Pharmacies, Retail Stores, Others,
By Companies
Danone, Nestle, Abbott Nutrition, Mead Johnson (Reckitt Benckiser), Kraft Heinz
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
238
Number of Tables & Figures
167
Customization Available
Yes, the report can be customized as per your need.
Global Breast Milk Substitute Market Report Segments:
The global Breast Milk Substitute market is segmented on the basis of:
Types
Milk-based formula, Soy-based formula, Hypoallergenic formula, Others,
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Pharmacies, Retail Stores, Others,
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Danone
- Nestle
- Abbott Nutrition
- Mead Johnson (Reckitt Benckiser)
- Kraft Heinz
Highlights of The Breast Milk Substitute Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Milk-based formula
- Soy-based formula
- Hypoallergenic formula
- Others
- By Application:
- Pharmacies
- Retail Stores
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Breast Milk Substitute Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Breast milk substitute is a product that is designed to imitate the composition, function, and benefits of breast milk for infants. Substitutes can be made from cow's, soybean, or almond milk; they may also contain added vitamins and minerals.
Some of the major players in the breast milk substitute market are Danone, Nestle, Abbott Nutrition, Mead Johnson (Reckitt Benckiser), Kraft Heinz.
The breast milk substitute market is expected to register a CAGR of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Breast Milk Substitute Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Breast Milk Substitute Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Breast Milk Substitute Market - Supply Chain
4.5. Global Breast Milk Substitute Market Forecast
4.5.1. Breast Milk Substitute Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Breast Milk Substitute Market Size (000 Units) and Y-o-Y Growth
4.5.3. Breast Milk Substitute Market Absolute $ Opportunity
5. Global Breast Milk Substitute Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Breast Milk Substitute Market Size and Volume Forecast by Type
5.3.1. Milk-based formula
5.3.2. Soy-based formula
5.3.3. Hypoallergenic formula
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Breast Milk Substitute Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Breast Milk Substitute Market Size and Volume Forecast by Application
6.3.1. Pharmacies
6.3.2. Retail Stores
6.3.3. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Breast Milk Substitute Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Breast Milk Substitute Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Breast Milk Substitute Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Breast Milk Substitute Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Breast Milk Substitute Demand Share Forecast, 2019-2026
9. North America Breast Milk Substitute Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Breast Milk Substitute Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Breast Milk Substitute Market Size and Volume Forecast by Application
9.4.1. Pharmacies
9.4.2. Retail Stores
9.4.3. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Breast Milk Substitute Market Size and Volume Forecast by Type
9.7.1. Milk-based formula
9.7.2. Soy-based formula
9.7.3. Hypoallergenic formula
9.7.4. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Breast Milk Substitute Demand Share Forecast, 2019-2026
10. Latin America Breast Milk Substitute Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Breast Milk Substitute Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Breast Milk Substitute Market Size and Volume Forecast by Application
10.4.1. Pharmacies
10.4.2. Retail Stores
10.4.3. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Breast Milk Substitute Market Size and Volume Forecast by Type
10.7.1. Milk-based formula
10.7.2. Soy-based formula
10.7.3. Hypoallergenic formula
10.7.4. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Breast Milk Substitute Demand Share Forecast, 2019-2026
11. Europe Breast Milk Substitute Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Breast Milk Substitute Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Breast Milk Substitute Market Size and Volume Forecast by Application
11.4.1. Pharmacies
11.4.2. Retail Stores
11.4.3. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Breast Milk Substitute Market Size and Volume Forecast by Type
11.7.1. Milk-based formula
11.7.2. Soy-based formula
11.7.3. Hypoallergenic formula
11.7.4. Others
11.8. Basis Point Share(BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Breast Milk Substitute Demand Share, 2019-2026
12. Asia Pacific Breast Milk Substitute Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Breast Milk Substitute Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Breast Milk Substitute Market Size and Volume Forecast by Application
12.4.1. Pharmacies
12.4.2. Retail Stores
12.4.3. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Breast Milk Substitute Market Size and Volume Forecast by Type
12.7.1. Milk-based formula
12.7.2. Soy-based formula
12.7.3. Hypoallergenic formula
12.7.4. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Breast Milk Substitute Demand Share, 2019-2026
13. Middle East & Africa Breast Milk Substitute Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Breast Milk Substitute Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Breast Milk Substitute Market Size and Volume Forecast by Application
13.4.1. Pharmacies
13.4.2. Retail Stores
13.4.3. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Breast Milk Substitute Market Size and Volume Forecast by Type
13.7.1. Milk-based formula
13.7.2. Soy-based formula
13.7.3. Hypoallergenic formula
13.7.4. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Breast Milk Substitute Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Breast Milk Substitute Market: Market Share Analysis
14.2. Breast Milk Substitute Distributors and Customers
14.3. Breast Milk Substitute Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Danone
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Nestle
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Abbott Nutrition
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Mead Johnson (Reckitt Benckiser)
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Kraft Heinz
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. COMPANY6
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. COMPANY7
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook