Infant formula: global market size, projected to reach USD 33.01 billion by 2029

Global Market Size of Infant Formula According to the latest report titled "Global Infant Formula Market Report 2023–2029" released by QYResearch, the global infant formula market is projected to reach USD 33.01 billion by 2029, growing at a compound annual growth rate (CAGR) of 2.8% over the coming years. Figure 00001. Global market size of infant formula, projected to reach USD 33.01 billion by 2029 Figure 00002. Top 22 global infant formula manufacturers ranked by market share (updated continuously) Major global infant formula manufacturers include Reckitt, Nestlé, Danone, Yili, Feihe, Abbott, Meiji, a2 Milk, Ausnutria, and Junlebao. In 2022, the top ten global manufacturers accounted for approximately 64.0% of total market share.

Market status and future development trends analysis of the infant food and infant formula industry, 2017–2028

According to statistics and forecasts by QYR (QY Research), the global infant food and infant formula market achieved sales revenue of USD 36.72 billion in 2021, and is expected to reach USD 42.3 billion by 2028, growing at a compound annual growth rate (CAGR) of 2.0% (2022–2028). Regionally, the Chinese market has undergone rapid changes in recent years: its market size was USD ___ million in 2021, accounting for approximately ___% of the global total; it is projected to reach USD ___ million by 2028, representing ___% of the global market at that time. Key global manufacturers of infant food and infant formula include Beingmate, HiPP, Mead Johnson, Arla Foods, FrieslandCampina, Morinaga Milk, Inner Mongolia Yili Industrial Group, Danone, Abbott, Nestlé, Heilongjiang Feihe Dairy, Hero Group, and Meiji. These companies are primarily concentrated in Europe, North America, China, and Japan, collectively holding over 60% of the global market share. The Asia-Pacific region is the world’s largest consumer market, accounting for half of global demand; Europe and North America follow, with shares of 22% and 16%, respectively. This report examines production capacity, output, sales volume, sales revenue, pricing, and future trends of infant food and infant formula in both global and Chinese markets. It focuses on analyzing product features, specifications, pricing, sales volume, revenue, and market shares of leading manufacturers worldwide and in China. Historical data covers 2017–2021; forecast data spans 2022–2028. Key manufacturers include: • Beingmate • HiPP • Mead Johnson • Arla Foods • FrieslandCampina • Morinaga Milk • Inner Mongolia Yili Industrial Group • Danone • Abbott • Nestlé • Heilongjiang Feihe Dairy • Hero Group • Meiji By product type, the market is segmented as follows: • Infant formula • A2 infant formula • Infant supplementary foods By distribution channel, the market comprises: • Offline retail • E-commerce Key regions covered include: • North America • Europe • China • Japan The main body of this report consists of 10 chapters, with contents summarized as follows: Chapter 1: Scope of the report, product segmentation, major downstream markets, industry background, development history, current status, and trends; Chapter 2: Global overall market size (capacity, output, sales volume, demand volume, sales revenue, etc.), 2017–2028; Chapter 3: Competitive analysis of major global infant food and infant formula manufacturers, including capacity, output, sales volume, revenue, market share, pricing, production locations, and industry concentration; Chapter 4: Regional analysis of the global infant food and infant formula market, covering sales volume and sales revenue; Chapter 5: Profiles of major global infant food and infant formula manufacturers, including company overviews, product models, sales volume, revenue, pricing, and latest developments;

Perrigo to Sell Infant Formula Business to MeridianMade for Up to $175 Million

23 hours ago

Perrigo will sell its infant formula business to MeridianMade for up to $175 million to focus on OTC medicines. The transaction includes performance payments and is set to close in H1 2027.

reuters

2026-10-29

Perrigo to Sell Infant Formula Business to MeridianMade for Up to $175 Million

Perrigo to Sell Infant Formula Business to MeridianMade for Up to $175 Million

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