Infant nutrition is a distinct market comprises of two sub-categories such as infant formula and baby food. Infant milk formula is a dietary product manufactured, designed and marketed in order to feed infants due to its similarity with breast milk and as well as suitability as an alternative to breast milk. There are basically four types of infant formula available in the market which includes starting milk formula, follow-on milk formula, toddler’s milk formula and specialty milk formula. Majority of the infant formula are made up of cow’s milk comprises of minerals, vitamins and other related nutrients. The specialty milk formula are basically designed for specific health-related ailments or situations (including premature babies, acid reflux, allergies, and others.) Presently, the segment captures miniscule share in infant formula market and is likely to observe significant growth in future. The North America region contributed highest in revenue share of global specialty milk formula market in 2020.

Rapid urbanization along with increasing popularity and significant demand for specialty milk formula due to rising health-related concerns among infants has strengthened the growth of global specialty milk formula market over the past few years. Apart from this, rising active participation of women in workforce is likely to positively impel the growth of specialty milk formula market over the forecast period. Rising birth rate especially in developing economies along with increasing purchasing power of parents due to escalation in the disposable income is projected to strengthen the growth of global specialty milk formula market over the forecast period. Impelling e-commerce channel growth and preferences for online purchase of baby foods is further likely to fuel the overall specialty milk formula market growth during the forecast period. Asia Pacific is anticipated to expand at a robust CAGR over the forecast period due to changing scenario and rise in health consciousness for infants in emerging countries such as China and India.

Specialty Milk Formula market has been estimated to be valued at US$ 1,731.8 Mn by the end of 2021 and is expected to attain revenue of US$ 3,356.8 Mn by 2030, expanding at a CAGR of 8.6% during the forecast period 2023-2030.

Purpose of the Report

The purpose of this strategic research study titled “Global Specialty Milk Formula Market - Growth, Future Prospects, Competitive Analysis and Forecast, 2023 – 2030” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global specialty milk formula market.

Target Audience

• Industry Investors
• Research Professionals
• Emerging Companies
• Raw Material Suppliers/ Buyers
• Product Suppliers/ Buyers
• Research Institutes

USP and Key Offerings

The report titled “Global Specialty Milk Formula Market - Growth, Future Prospects, Competitive Analysis and Forecast, 2023 – 2030” offers strategic insights into the global specialty milk formula market along with the market size and estimates for the duration 2020 to 2030. The said research study covers in-depth analysis of multiple market segments based on distribution channel and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading specialty milk formula vendors, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:

• Current and future market trends to justify the forthcoming attractive markets within specialty milk formula industry
• Market fuelers, market impediments, and their impact on the market growth
• In-depth competitive environment analysis
• Trailing 3-Year market size data (2020 – 2021)
• SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global specialty milk formula market, of growth, offering market size and estimates for the period from 2020 to 2030, keeping in mind the above-mentioned factors.

Increase in global demand for high quality infant formula generate the requirements for significant quality assured production processes that are crucial for global specialty milk formula manufacturers to prosper in current scenario. Manufacturing infant formula is a compound process due to specific needs of growing infants and thus it is crucial to incorporate all necessary micro and macro nutrients at an appropriate concentration. On the basis of distribution channel, the specialty milk formula market is bifurcated by supermarkets, specialty outlets, pharmacy store, online store and others. In 2020, pharmacy store segment contributed the highest revenue share in global specialty milk formula market. This segment has captured the highest share due to preferences for consulting pediatricians by the parents in order to choose the appropriate infant milk formula. Increasing internet penetration along with hectic lifestyle and rising number of women on workforce is expected to foster the growth of online store segment over the forecast period. Increasing trend of purchasing the products through online channels especially in developing economies is projected to expand the growth of online store segment in Latin America and Middle East & Africa and thus is likely to impel the growth of specialty milk formula market in these regions till 2030.

North America dominated the global specialty milk formula market in 2020. It accounted for more than 45% share of global specialty milk formula market. Increasing awareness about specialty milk formula and its related benefits along with rising health related disorders among infant has boosted the demand for specialty milk formula products in the region. Followed by it, Europe stood at second position in the global specialty milk formula market in the same year. The willingness and ability of parents to purchase premium infant formula products is expected to drive the growth of specialty milk formula market in Europe during the forecast period. In the next few years, Asia-Pacific specialty milk formula market is anticipated to contribute significantly in terms of revenue till 2029. Robust economic development, increasing number of health conscious parents and safety concerns for infants along with popularity of specialty milk formula among them is likely to foster the Asia Pacific region growth till 2030. Other regions such as Middle East and Latin America are also likely to observe robust growth in specialty milk formula market worldwide.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Specialty Milk Formula market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Specialty Milk Formula market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Specialty Milk Formula market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Specialty Milk Formula market?
• Which is the largest regional market for Specialty Milk Formula market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Specialty Milk Formula market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Specialty Milk Formula market worldwide?