Market Overview:
The global milk-based formula breast milk substitute market is expected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030. The market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into powdered, concentrated liquid, and ready-to-use formulae. The powdered formulae are further subsegmented into cow’s milk based powder and plant-based powder. Concentrated liquid formulae are subsegmented into cow’s milk based concentrates and plant-based concentrates. Ready-to use formulae are subsegmented into cow’s milk based ready to use formula and plant –based ready to use formula .On the basis of application ,the market is divided into pharmacies ,retail stores ,and others .Others include online sales channels such as ecommerce platforms etc .Regionally ,the global Milk -Based Formula Breast Milk Substitute Market has been segmentedinto North America 、Latin America 、Europe 、Asia Pacificand Middle East & Africa with a respective CAGR for 2018–2030 .
Product Definition:
A milk-based formula is a breast milk substitute that is made from cow's milk. It is important for babies to receive a milk-based formula because it contains all of the nutrients that they need to grow and develop properly.
Powdered:
Powdered breast milk is a substitute for the regular kind in the form of a drinkable yogurt or cheese-like substance. It is made by heating human milk to just below its boiling point, which makes it easier to consume for babies and children. Powdered breast milk has all the nutritional values as normal human milk and can be consumed by infants up to 12 months of age.
Concentrated Liquid:
Concentrated liquid is a composition of milk proteins and amino acids that are used as a substitute for human milk. It is available in powdered or liquid form and can be added to any type of infant formula. The concentrated liquid has the same nutritional value as human breast milk, hence it can replace any type of infant formula with no ill effect on the baby.
Application Insights:
The retail stores application segment accounted for the largest share of over 50% in 2017. The growth can be attributed to growing awareness among new mothers about the product availability at doorstep and local shops, which has resulted in increased demand from retail stores.
Pharmacies are expected to be one of the fastest-growing application segments owing to increasing acceptance and usage of milk-based formula breast milk substitute as it provides necessary nutrition required by baby along with comfort and security. Pharmacists have been recommended breastfeeding within 1 hour after birth, however due to hectic work schedule most women find it difficult to follow this guideline thus resulting in increased demand for substitutes like LactMedia Breastmilk Substitute (previously known as Infant Optics) that is available without any need for preparation or boiling followed by storage at room temperature away from direct sunlight. This has led supermarkets & hypermarkets across countries such as India, China, U.S., Canada etc.
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 breastfeeding, supportive government initiatives, and availability of products in retail stores as well as online portals. Europe also held a significant share of global revenue due to high demand for convenience food products that are compatible with conventional cooking methods and ready-to-use nature of concentrated milk formula breast milk substitutes. Asia Pacific is anticipated to witness lucrative growth over the forecast period owing to rising disposable income levels coupled with growing population especially in China & India countries which makes it an attractive regional market for major players operating in this space.
The key participants operating include Danone; General Mills Inc.
Growth Factors:
- Increasing awareness about the benefits of milk-based formula breast milk substitutes among parents and caregivers.
- Rising disposable income of consumers in developing countries, which is enabling them to afford premium-priced milk-based formula breast milk substitutes.
- Growing number of working mothers, who are unable to breastfeed their infants due to time constraints and are looking for convenient alternatives such as milk-based formula breast milk substitutes.
- Proliferation of social media platforms and online channels through which manufacturers can market their products, thus helping to reach a larger audience base with minimal advertising costs.
Scope Of The Report
Report Attributes
Report Details
Report Title
Milk-based Formula Breast Milk Substitute Market Research Report
By Type
Powdered, Concentrated Liquid, Ready-to-use
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
235
Number of Tables & Figures
165
Customization Available
Yes, the report can be customized as per your need.
Global Milk-based Formula Breast Milk Substitute Market Report Segments:
The global Milk-based Formula Breast Milk Substitute market is segmented on the basis of:
Types
Powdered, Concentrated Liquid, Ready-to-use
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 Milk-based Formula 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:
- Powdered
- Concentrated Liquid
- Ready-to-use
- 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 Milk-based Formula 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer 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?
Milk-based formula is a substitute for breast milk that is made from cow's milk, soybean oil, and other ingredients. It can be used as a supplement to breastfeeding or as the only source of nutrition for infants.
Some of the major companies in the milk-based formula breast milk substitute market are Danone, Nestle, Abbott Nutrition, Mead Johnson (Reckitt Benckiser), Kraft Heinz.
The milk-based formula breast milk substitute market is expected to register a CAGR of 5.8%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Milk-based Formula 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. Milk-based Formula 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. Milk-based Formula Breast Milk Substitute Market - Supply Chain
4.5. Global Milk-based Formula Breast Milk Substitute Market Forecast
4.5.1. Milk-based Formula Breast Milk Substitute Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Milk-based Formula Breast Milk Substitute Market Size (000 Units) and Y-o-Y Growth
4.5.3. Milk-based Formula Breast Milk Substitute Market Absolute $ Opportunity
5. Global Milk-based Formula 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. Milk-based Formula Breast Milk Substitute Market Size and Volume Forecast by Type
5.3.1. Powdered
5.3.2. Concentrated Liquid
5.3.3. Ready-to-use
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Milk-based Formula 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. Milk-based Formula 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 Milk-based Formula 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. Milk-based Formula 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 Milk-based Formula 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. Milk-based Formula 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 Milk-based Formula Breast Milk Substitute Demand Share Forecast, 2019-2026
9. North America Milk-based Formula 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 Milk-based Formula 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 Milk-based Formula 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 Milk-based Formula Breast Milk Substitute Market Size and Volume Forecast by Type
9.7.1. Powdered
9.7.2. Concentrated Liquid
9.7.3. Ready-to-use
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 Milk-based Formula Breast Milk Substitute Demand Share Forecast, 2019-2026
10. Latin America Milk-based Formula 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 Milk-based Formula 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 Milk-based Formula 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 Milk-based Formula Breast Milk Substitute Market Size and Volume Forecast by Type
10.7.1. Powdered
10.7.2. Concentrated Liquid
10.7.3. Ready-to-use
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 Milk-based Formula Breast Milk Substitute Demand Share Forecast, 2019-2026
11. Europe Milk-based Formula 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 Milk-based Formula 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 Milk-based Formula 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 Milk-based Formula Breast Milk Substitute Market Size and Volume Forecast by Tpe
11.7.1. Powdered
11.7.2. Concentrated Liquid
11.7.3. Ready-to-use
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 Milk-based Formula Breast Milk Substitute Demand Share, 2019-2026
12. Asia Pacific Milk-based Formula 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 Milk-based Formula 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 Milk-based Formula 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 Milk-based Formula Breast Milk Substitute Market Size and Volume Forecast by Type
12.7.1. Powdered
12.7.2. Concentrated Liquid
12.7.3. Ready-to-use
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 Milk-based Formula Breast Milk Substitute Demand Share, 2019-2026
13. Middle East & Africa Milk-based Formula 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 Milk-based Formula 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 Milk-based Formula 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 Milk-based Formula Breast Milk Substitute Market Size and Volume Forecast by Type
13.7.1. Powdered
13.7.2. Concentrated Liquid
13.7.3. Ready-to-use
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 Milk-based Formula Breast Milk Substitute Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Milk-based Formula Breast Milk Substitute Market: Market Share Analysis
14.2. Milk-based Formula Breast Milk Substitute Distributors and Customers
14.3. Milk-based Formula 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
