Baby Specialty Milk Formula Market Size

Baby Specialty Milk Formula Market size was over USD 41.96 Billion in 2023 and is likely to reach USD 78.15 Billion by the end of 2036, growing at around 4.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of baby specialty milk formula is assessed at USD 43.81 Billion. The growth of the market can be attributed primarily to the increasing birth rates worldwide. It was observed that in 2021, approximately 3,650,200 babies were born in the United States, an increase of 1% compared to 2020.

The term specialty milk formula refers to a type of infant milk formula designed to feed babies with health issues. The purpose of infant formula is to feed babies when their mothers are not available to breastfeed. Users are becoming increasingly interested in these infant milk formulas owing to their nutritional benefits and ease of accessibility. Compared to whole milk, baby milk formula has several advantages. Baby specialty milk formula contains high levels of whey protein, iron, Vitamin E, and C, as well as essential minerals and fatty acids. Providing these nutrients to an infant is crucial to their overall development. Moreover, growing health concerns among parents about their children, increased awareness of specialty milk formulas, and decreasing breastfeeding rates are anticipated to fuel baby specialty milk formula market growth in coming years. For instance, approximately 78 million babies are not breastfed within their first hour of life, which increases their risk of death and disease, as well as their likelihood of continuing breastfeeding.