Infant formula is a manufactured food designed and marketed for feeding to babies and infants under 12 months of age, usually prepared for bottle-feeding or cup-feeding from powder (mixed with water) or liquid (with or without additional water). Infant formula provides an adequate source of nutrition for most infants who are not exclusively breastfed and for those unable to tolerate cow's milk-based infant formula. It ensures infants receive essential nutrients for healthy growth and development. The need for infant formula arises due to various reasons like breastfeeding difficulties, requirement for additional nutrition, or when breast milk is unavailable.

Global infant formula market is estimated to be valued at USD 81.42 Bn in 2024 and is expected to reach USD 161.51 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 10.3% from 2024 to 2031.

Key Takeaways

Key players operating in the infant formula market are Linde AG, Air Products & Chemicals, Inc., Praxair, Inc., Air Liquide SA, and Airgas In. These key players are focusing on adopting strategies such as partnerships, mergers, acquisitions, and new product launches to maintain their dominance in the market.

The key opportunities in the Infant Formula Market Size include rising women workforce participation rate and growing middle-income populations in developing countries. Additionally, manufacturers are developing various stage-specific formulas for newborn babies (0-6 months), babies (6-12 months), and toddlers (1-3 years) to target different consumer groups.

Globally, manufacturers are expanding their operations in high-growth regions including Asia Pacific, Middle East & Africa, and South America. Countries with high fertility rates and growing disposable incomes like China, India, Indonesia, Nigeria, Egypt, etc. offer untapped growth potential for infant formula manufacturers.

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