Breast Milk Substitutes Market to register an appreciable growth rate through 2025
Category: #headlines  By Ronak Bora  Date: 2021-08-03
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Breast Milk Substitutes Market to register an appreciable growth rate through 2025

The growth graph of breast milk substitutes market has been increasingly steady since a while now. A highly regulatory-driven business space, this industry has gained traction mainly on account of the rising percentage of working women worldwide, among other factors. The last decade has witnessed a meteoric rise in the rates of working female populace. According to the U.S. Department of Labor, as on 2017, nearly 47% of workers in the U.S. are females, and over 39% of women work in occupations where they account for at least 75% of the workforce. There are almost 74.6 million women working in the civilian labor force, while every 3 out of 10 females are employed in government jobs.

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This scenario is familiar not just in the United States, but worldwide, for most parts. With more and more women becoming a part of the global workspace, breastfeeding has taken a significant backseat, with working mothers not being able to find time to nurse their babies. The rising demand to ensure adequate nutrition for newborns and the increasing struggle to balance out work and personal lives have led to a substantial upsurge in the demand for breast milk substitutes. The percentage of working mothers will only serve to increase in the ensuing years, with a number of initiatives being undertaken for female education and women empowerment, which will further provide an impetus to breast milk substitutes industry outlook.

As per GMI, breast milk substitutes market size is anticipated to hit USD 119 billion by 2025.

A few trends that are likely to characterize the growth path of infant nutrition business in the years to come are outlined below:

Rising demand for hypoallergenic substitutes to fuel the industry growth

Milk-based and soy-based breast milk substitutes have gained substantial traction in the recent years. However, it is plausible that in the times to come, hypoallergenic substitutes may gain massive popularity. This is because of the rising number of infants who have no resistance to cow’s milk or those who are allergic to soy milk substitutes.

Estimates claim that hypoallergenic breast milk substitutes market size is projected to cross USD 3.6 billion by 2025, with an anticipated target CAGR of 9% over the forecast period. This formula is known to be highly suitable for infants suffering from any kind of food allergy, or asthma, eczema, etc., which makes it the most suitable alternative for breast milk.

Retail stores to gain traction as the prime distribution channel

Despite the recent upsurge of e-commerce platforms, dedicated baby stores, online channels, etc., the age-old brick-and-mortar retail stores are expected to come up as the most dedicated distribution channel for breast milk alternatives. In 2018, retail stores dominated the business, having accounted for 45% of the revenue share and are expected to rake in substantial returns in the years ahead.

This growth can be credited to the convenience these stores offer to customers in tandem with the massive product availability as well as high purchaser patterns depicted by these stores. A substantial upsurge in the number of retail stores, especially in emerging economies, offering a variety of infant nutrition products, is also expected to boost breast milk substitutes market share from retail stores segment.

China to emerge supreme in the regional infant nutrition business

While birth rates worldwide seem to be on the downward spiral, developing countries such as China and India have been observing an increase in birth rates. Alongside though, the working women populace has increased in China, leading to a reduction in the breastfeeding rate. This has consequently led to an upsurge in the demand for infant nutrition products. Estimates claim that China held the largest proportion of breast milk substitutes market share in 2018 and is likely to exhibit a CAGR of 11.4% through 2025.

Rising adoption of breast milk alternatives coupled with the absence of an organized regulatory spectrum and rising awareness pertaining to infant nutrition will push China breast milk substitutes industry share.

Ready-to-use formulas to depict substantial popularity

Breast milk substitutes are available in the concentrated liquid, ready-to-use, and powdered formulas. Of these, the ready-to-use formula segment held USD 24.2 billion in 2018 and is expected to grow at a prodigious pace over the forthcoming years. The growth can be credited to the high convenience, safety, and sterility provided by these products. Additionally, ready-to-use formulas offer favorable time-effectivity, which proves beneficial for working mothers in particular.

Breast milk substitutes market is strictly regulatory-driven. Despite the progress depicted by this business space, the presence of regulations governing product sales and marketing are likely to hinder the market expansion. Recently, a report released by the UN highlighted the requirement for stronger legislations so as to protect families from the

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false claims circulating regarding safety of breast milk substitutes or even aggressive marketing practices. The World Health Organization (WHO), in tandem with the United Nations Children's Fund (UNICEF) as well as other civil society organizations have even come up with a Call to Action, and have called upon the prominent producers of breast milk substitutes to take action to completely implement the WHO International Code of Marketing of Breastmilk Substitutes.

Proper adherence to the set guidelines coupled with improved efforts to launch healthy, harmless breast milk alternatives sans aggressive, misleading promotional tactics will help players consolidate their position in this industry and augment market outlook in the future.

Partial Chapter of the Table of Content 

Chapter 4. Breast Milk Substitutes Market, By Substitute Type

4.1. Key segment trends

4.2. Milk-based formula

4.2.1. Market size, by region, 2014 – 2025 (USD Million)

4.3. Soy-based formula

4.3.1. Market size, by region, 2014 – 2025 (USD Million)

4.4. Hypoallergenic formula

4.4.1. Market size, by region, 2014 – 2025 (USD Million)

4.5. Others

4.5.1. Market size, by region, 2014 – 2025 (USD Million)

Chapter 5. Breast Milk Substitutes Market, By Formula Type

5.1. Key segment trends

5.2. Powdered

5.2.1. Market size, by region, 2014 – 2025 (USD Million)

5.3. Concentrated liquid

5.3.1. Market size, by region, 2014 – 2025 (USD Million)

5.4. Ready-to-use

5.4.1. Market size, by region, 2014 – 2025 (USD Million) 

Browse full table of contents (TOC) of this report @ https://www.decresearch.com/toc/detail/breast-milk-substitutes-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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