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Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Breast Milk Substitutes Market: By Substitute Type, By Formula Type, By Distribution Channels, and Region Forecast 2019-2030
Breast Milk Substitutes Market size was valued at US$ 74,376.3 million in 2023 and is poised to grow at a significant CAGR of 10.1% from 2024-2030. Breast milk substitutes are popular among non-lactating mothers. Manufacturers' goal of creating natural, additive-free replacements for breast milk has helped them maintain a significant position in the food and beverage business. Breast milk replacement formula usage has increased significantly in developing nations due to higher birth rates. Including powdered breast milk alternatives in newborn diets will also increase industrial product demand. Based on the substitute type, the market is segmented into Milk-based Formula, Soy-based Formula, and Hypoallergenic Formula.
The milk-based formula segment is anticipated to grow at a significant CAGR over the forecast years. The milk-based product provides enriched nutrition derived from fortified cow milk with minerals, vitamins, calcium, iron, and vegetable oils. As a result, a growing intake of milk-based formula to aid in newborn development will provide profitable category growth. High investment in research and development initiatives for enhanced milk-based formulas will help the segment expand even further. Higher birth rates and availability of premium infant nutrition alternatives, Increased preference towards the product with numerous advantages, and growing expansion of retail stores along with a strong distribution channel are a few factors driving the industry's growth over the forecasting period.
Study Period
2024-2030Base Year
2023CAGR
10.1%Largest Market
Asia PacificFastest Growing Market
North America
The growing tendency and number of working-class women worldwide will drive market expansion. Middle-income countries' government initiatives for women's education and empowerment policies have contributed to the industry's growth. A rigorous work schedule impedes the development of a newborn baby.
As a result, the choice of infant formula to achieve the necessary development, sustenance, and growth of babies will increase industry demand. Rapid urbanization in developing countries and lifestyle changes are poised to influence global market potential substantially.
Report Benchmarks |
Details |
Report Study Period |
2024-2030 |
Market Size in 2023 |
US$ 74,376.3 million |
Market CAGR |
10.1% |
By Substitute Type |
|
By Formula Type |
|
By Distribution Channels |
|
By Region |
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The global breast milk substitutes market size was valued at US$ 74,376.3 million in 2023 and is poised to grow at a CAGR of 10.1% from 2024-2030
The breast milk substitutes market key players are: Vitagermine SAS Fonterra Co-operative Group The Kraft Heinz Company Reckitt Benckiser Group Abbott Nutrition FrieslandCampina, Danone Nutricia Hyproca Nestle Mead Johnson
The breast milk substitutes market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
1.Executive Summary |
2.Global Breast Milk Substitutes Market Introduction |
2.1.Global Breast Milk Substitutes Market - Taxonomy |
2.2.Global Breast Milk Substitutes Market - Definitions |
2.2.1.Substitute Type |
2.2.2.Formula Type |
2.2.3.Distribution Channels |
2.2.5.Region |
3.Global Breast Milk Substitutes Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Product Landscape |
3.6. New Product Launches |
3.7. Impact of COVID 16 on Market |
4.Global Breast Milk Substitutes Market Analysis2019-2023 and Forecast 2024-2030 |
4.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5.Global Breast Milk Substitutes Market By Substitute Type 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
5.1. Remote Diagnosis of Clinical Diagnostic Equipment |
5.1.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Preventative Maintenance of Clinical Diagnostic Equipment |
5.2.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
5.3. Professional Services |
5.3.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.3.3. Market Opportunity Analysis |
5.4. Education & Training of Clinical diagnostic Equipment |
5.4.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.4.3. Market Opportunity Analysis |
5.5. Consulting Services |
5.5.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.5.3. Market Opportunity Analysis |
5.6. IT Services |
5.6.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.6.3. Market Opportunity Analysis |
5.7. Others |
5.7.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
5.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.7.3. Market Opportunity Analysis |
6.Global Breast Milk Substitutes Market By Formula Type 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
6.1. Pets |
6.1.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Poultry |
6.2.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Ruminants |
6.3.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. Swine |
6.4.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
6.5. Others |
6.5.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.5.3. Market Opportunity Analysis |
7.Global Breast Milk Substitutes Market By Distribution Channels 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
7.1. Break Fix Service |
7.1.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. OEM Service Contracts |
7.2.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. 3rd Parties |
7.3.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
8.Global Breast Milk Substitutes Market By Region2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
8.1. North America |
8.1.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Europe |
8.2.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
8.3. Asia Pacific (APAC) |
8.3.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.3.3. Market Opportunity Analysis |
8.4. Middle East and Africa (MEA) |
8.4.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.4.3. Market Opportunity Analysis |
8.5. Latin America |
8.5.1. Market Analysis2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.5.3. Market Opportunity Analysis |
9.North America Breast Milk Substitutes Market ,2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
9.1. Substitute Type Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.1.1.Remote Diagnosis of Clinical Diagnostic Equipment |
9.1.2.Preventative Maintenance of Clinical Diagnostic Equipment |
9.1.3.Professional Services |
9.1.4.Education & Training of Clinical diagnostic Equipment |
9.1.5.Consulting Services |
9.1.6.IT Services |
9.1.7.Others |
9.2. Formula Type Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.2.1.Pets |
9.2.2.Poultry |
9.2.3.Ruminants |
9.2.4.Swine |
9.2.5.Others |
9.3. Distribution Channels Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.3.1.Break Fix Service |
9.3.2.OEM Service Contracts |
9.3.3.3rd Parties |
9.4. Geography Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.4.1.North America |
9.4.2.Europe |
9.4.3.The Asia Pacific |
9.4.4.Latin America |
9.4.5.MEA |
9.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.5.1.United States of America (USA) |
9.5.2.Canada |
10.Europe Breast Milk Substitutes Market ,2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
10.1. Substitute Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.1.1.Remote Diagnosis of Clinical Diagnostic Equipment |
10.1.2.Preventative Maintenance of Clinical Diagnostic Equipment |
10.1.3.Professional Services |
10.1.4.Education & Training of Clinical diagnostic Equipment |
10.1.5.Consulting Services |
10.1.6.IT Services |
10.1.7.Others |
10.2. Formula Type Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.2.1.Pets |
10.2.2.Poultry |
10.2.3.Ruminants |
10.2.4.Swine |
10.2.5.Others |
10.3. Distribution Channels Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.3.1.Break Fix Service |
10.3.2.OEM Service Contracts |
10.3.3.3rd Parties |
10.4. Geography Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.4.1.North America |
10.4.2.Europe |
10.4.3.The Asia Pacific |
10.4.4.Latin America |
10.4.5.MEA |
10.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.5.1.Germany |
10.5.2.France |
10.5.3.Italy |
10.5.4.United Kingdom (UK) |
10.5.5.Spain |
10.5.6.Rest of EU |
11.Asia Pacific (APAC) Breast Milk Substitutes Market ,2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
11.1. Substitute Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.1.1.Remote Diagnosis of Clinical Diagnostic Equipment |
11.1.2.Preventative Maintenance of Clinical Diagnostic Equipment |
11.1.3.Professional Services |
11.1.4.Education & Training of Clinical diagnostic Equipment |
11.1.5.Consulting Services |
11.1.6.IT Services |
11.1.7.Others |
11.2. Formula Type Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.2.1.Pets |
11.2.2.Poultry |
11.2.3.Ruminants |
11.2.4.Swine |
11.2.5.Others |
11.3. Distribution Channels Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.3.1.Break Fix Service |
11.3.2.OEM Service Contracts |
11.3.3.3rd Parties |
11.4. Geography Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.4.1.North America |
11.4.2.Europe |
11.4.3.The Asia Pacific |
11.4.4.Latin America |
11.4.5.MEA |
11.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.5.1.China |
11.5.2.India |
11.5.3.Australia and New Zealand (ANZ) |
11.5.4.Japan |
11.5.5.Rest of APAC |
12.Middle East and Africa (MEA) Breast Milk Substitutes Market ,2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
12.1. Substitute Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.1.1.Remote Diagnosis of Clinical Diagnostic Equipment |
12.1.2.Preventative Maintenance of Clinical Diagnostic Equipment |
12.1.3.Professional Services |
12.1.4.Education & Training of Clinical diagnostic Equipment |
12.1.5.Consulting Services |
12.1.6.IT Services |
12.1.7.Others |
12.2. Formula Type Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.2.1.Pets |
12.2.2.Poultry |
12.2.3.Ruminants |
12.2.4.Swine |
12.2.5.Others |
12.3. Distribution Channels Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.3.1.Break Fix Service |
12.3.2.OEM Service Contracts |
12.3.3.3rd Parties |
12.4. Geography Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.4.1.North America |
12.4.2.Europe |
12.4.3.The Asia Pacific |
12.4.4.Latin America |
12.4.5.MEA |
12.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.5.1.GCC Countries |
12.5.2.South Africa |
12.5.3.Rest of MEA |
13.Latin America Breast Milk Substitutes Market ,2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
13.1. Substitute Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.1.1.Remote Diagnosis of Clinical Diagnostic Equipment |
13.1.2.Preventative Maintenance of Clinical Diagnostic Equipment |
13.1.3.Professional Services |
13.1.4.Education & Training of Clinical diagnostic Equipment |
13.1.5.Consulting Services |
13.1.6.IT Services |
13.1.7.Others |
13.2. Formula Type Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.2.1.Pets |
13.2.2.Poultry |
13.2.3.Ruminants |
13.2.4.Swine |
13.2.5.Others |
13.3. Distribution Channels Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.3.1.Break Fix Service |
13.3.2.OEM Service Contracts |
13.3.3.3rd Parties |
13.4. Geography Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.4.1.North America |
13.4.2.Europe |
13.4.3.The Asia Pacific |
13.4.4.Latin America |
13.4.5.MEA |
13.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.5.1.Brazil |
13.5.2.Mexico |
13.5.3.Rest of LA |
14. Competition Landscape |
14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
14.2.1.Qiagen |
14.2.2.Quest Diagnostics, Inc. |
14.2.3.OPKO Health, Inc. |
14.2.4.Abbott |
14.2.5.Charles River Laboratories International, Inc. |
14.2.6.Cinven |
14.2.7.Arup Laboratories |
14.2.8.Sonic Healthcare |
14.2.8.Laboratory Corporation of America Holdings (LabCorp) |
14.2.9.NeoGenomics Laboratories, Inc. |
14.2.10.Fresenius Medical Care |
14.2.11.DaVita, Inc. |
14.2.12.Siemens Healthcare GmbH |
14.2.13.Viapath Group LLP |
14.2.14.SGS SA |
14.2.14.Almac Group |
15. Research Methodology |
16. Appendix and Abbreviations |
Key Market Players