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Breast Milk Substitutes Market Share

Report ID: GMI3373
Published Date: Dec 2022
Report Format: PDF

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Breast Milk Substitutes Market Share

The competitive landscape of the breast milk substitutes market comprises companies such as:

The Kraft Heinz Company
Hyproca
Fonterra Co-operative Group
Mead Johnson & Company LLC (Reckitt Benckiser)
Vitagermine SAS
Nestle
Danone Nutricia
Abbott Nutrition
FrieslandCampina

These companies are incorporating product launches and other strategies to expand their foothold across the industry.

For instance, in September 2022, Nestle introduced Nutrilearn Connect, an infant formula, in Hong Kong. This product was developed with a novel ingredient, myelin, to protect and insulate nerve fibers for cognitive and behavioral development of infants. This strategy was meant to offer growth opportunities and allow the company to establish a strong presence in the market.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market for breast milk substitutes crossed USD 73 billion in 2022 and is slated to depict over 9.5% CAGR through 2023-2032, on account of the increasing labor participation of women.

The breast milk substitutes industry share from the hypoallergenic formula substitute segment is set to register over 9% CAGR through 2023-2032, due to the rising prevalence of food allergy, eczema, and asthma.

Asia Pacific breast milk substitutes industry size is anticipated to be valued at over USD 81 billion by 2032, given the increasing financial support from private and public organizations to boost product awareness.

The Kraft Heinz Company, Hyproca, Fonterra Co-operative Group, Mead Johnson & Company, LLC (Reckitt Benckiser), Nestle, Danone Nutricia, Abbott Nutrition, and FrieslandCampina, are among the key players in the breast milk substitutes business.