Infant Formula Market Expected to Reach USD 207.19 Billion by 2034
The global infant formula market was valued at USD 82.4 billion in 2024 and is forecasted to rise to approximately USD 207.19 billion by 2034, growing at a compound annual growth rate (CAGR) of 9.55%, according to a study by Towards Healthcare, affiliated with Precedence Research.
Key Drivers of Market Growth
- Increasing urbanization boosting demand for convenient nutrition solutions.
- Rising number of working mothers requiring accessible infant feeding options.
- Growing awareness of nutritional needs and desire for safe alternatives to breastfeeding.
- Higher disposable income enabling parents to seek premium, organic, and fortified infant formulas.
Market Insights
The rapid urban lifestyle changes and economic growth have made infant formula a popular choice for parents who look for reliable and balanced feeding options. Awareness about infant health has notably increased the demand for fortified and organic products in this sector.
"Parents today are more knowledgeable regarding balanced feeding alternatives to formula, and a desire for quality nutrition has increased demand for more premium infant foods, organic foods, and fortified infant formula."
About the Study
The research by Towards Healthcare highlights factors such as urbanization, working mothers, and nutritional awareness as pivotal in driving the infant formula market's growth worldwide.
Additional Information
The full study and sample pages are available for immediate access through Towards Healthcare.
Author's summary: The infant formula market is expanding rapidly due to urbanization, working mothers' needs, and increased awareness of nutritional benefits, pushing demand for premium and fortified products.