The global standard milk formula market is likely to witness steady growth, anticipated to reach US$ 28.2 Bn by 2031.
Prominent players like Nestle SA, Groupe Danone, The Kraft Heinz Company, Friesland Campina, and Abbott Nutrition contribute nearly 60% of revenue share in the global standard milk formula market. During the COVID-19 pandemic, sales of standard milk formula remained elevated, attributed to the increased focus on infant health. Fears of the infection spreading to infants compelled parents to purchase increased quantities of additional infant supplements, which led to enhanced availability of different categories of standard milk formulae.
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Key Market Trends & Growth Opportunities:
Therapeutic milk formula F-75 and F-100 are strategic products used by UNICEF and partners in nutritional feeding programmes aimed at decreasing under-five child mortality from severe acute malnutrition (SAM). UNICEF procures F75 and F-100 for the inpatient treatment of children with complicated SAM primarily in emergencies. Hence provides lucrative revenue earning opportunity.
Interest in mimicking the nutrition of breast milk continues to drive innovation in the infant nutrition category, with human milk oligosaccharides (HMOs) as the hero ingredient. Globally, new baby formula/milk launches with HMO ingredients grew more than tenfold between 2018 and 2019. With increased awareness of the role of HMOs in supporting immune system development, this trend is expected to continue.
Competitive Landscape:
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions to expand their market ground.
- In January 2021, fats and oils specialist Bunge Loders Croklaan (BLC) has unveiled a new premium lipid ingredient for baby formula which it claims allows manufacturers to get closer than ever before to the gold standard of mother’s milk.
- In November 2020, Abbott launched its first instant formula in Canada with ingredient identical to immune component in breast milk.
Which Sales Channel is Mostly Preferred in Standard Milk Formula Market?
Online platforms are transforming the retail sector, consequently providing potential avenues for producers of standard milk formula to market their products across tier II cities. With e-commerce on the rise, online platforms have facilitated significant growth in sales of standard milk formula, consequently influencing the growth of the standard milk formula market in emerging economies.
For instance, standard milk formula producers in China are adopting e-commerce platforms to enhance product sales. Moreover, with the introduction of the two-child policy in China coupled with rising milk rates, dairy producers faced a shrinking market share.
Key Segments Covered:
- Product Type
- Liquid
- Powder
- Concentrate
- Ready-To-Feed
- Flavour
- Unflavoured
- Vanilla
- Strawberry
- Chocolate
- Other Flavored
- Packaging Type
- in Cans
- in Aseptic Cartons
- in Bottles & Jars
- in Pouches
- in Other Packaging Types
- Nature
- Conventional
- Organic
- Sales Channel
- Sales via Modern Trade
- Sales via Specialty Stores
- Sales via Online Stores
- Sales via Pharmacy Stores
- Sales via Other Sales Channels
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Additional Questions Answered
Besides aforementioned findings, the standard milk formula market report also answers additional questions revealing the intricacies of the standard milk formula market. To mention a few:
- What trends are influencing growth in sales of various types of standard milk formula products across the globe?
- What is market valuation of standard milk formula products in the developed countries of Europe and North America during the assessment period?
- What is the demand for strawberry and chocolate flavored standard milk formula products?
- Can the market for unflavored standard milk formula cement its dominance throughout the forecast period?
- Which is the most adopted packaging method for standard milk formula?
