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Breast Milk Substitutes Market Share

Report ID: GMI3373
Published Date: Dec 2024
Report Format: PDF

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Breast Milk Substitutes Market Share

The market is competitive, featuring both major global companies and numerous smaller firms. A key strategy for participants is investing in the development of advanced breast milk substitutes technologies, such as docosahexaenoic acid and arachidonic acid, prebiotics and probiotics, and human milk oligosaccharides (HMOs), to enhance accuracy and efficiency. Strategic partnerships with research institutions and healthcare providers are crucial for integrating new technologies and expanding distribution, enabling companies to address the rising demand for breast milk substitutes. Regulatory support and streamlined approval processes further drive innovation and market entry, solidifying the position of firms within the growing market.

Breast Milk Substitutes Market Companies

Some of the eminent market participants operating in the breast milk substitutes industry include:

Abbott Laboratories
Arla Foods
Beingmate Baby & Child Food
Danone
Fonterra Co-operative Group
FrieslandCampina
Hero Group
HiPP
kendamil
Mead Johnson
Munchkin
Nestlé
Synutra International
The Kraft Heinz Company
Yili Group

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The breast milk substitutes industry was valued at approximately USD 87.4 billion in 2024 and is estimated to grow at a 9.9% CAGR from 2025 to 2034, driven by increasing maternal health challenges and insufficient milk supply.

The milk-based formula segment held the largest revenue share of 72.5% in 2024 due to health-related factors such as insufficient milk supply and the risk of disease transmission from mothers to infants.

The U.S. breast milk substitutes market is projected to reach USD 52.6 billion by 2034, driven by the high percentage of mothers returning to the workforce shortly after childbirth.

In 2023, 68.9% of mothers with children under 6 were part of the labor force, making breast milk substitutes a practical feeding option for working mothers.

Key players in the market include Abbott Laboratories, Arla Foods, Beingmate Baby & Child Food, Danone, Fonterra Co-operative Group, FrieslandCampina, Hero Group, HiPP, Kendamil, and Mead Johnson.