Baby Specialty Milk Formula Market Trends

Growth Drivers

• Growing Prevalence Of Gestational Diabetes Worldwide-According to the Centers for Disease Control and Prevention, gestational diabetes affects 2% to 10% of pregnancies in the United States every year. 
• A baby born to a woman who has gestational diabetes may have a greater likelihood of becoming obese or diabetic in the future. A growing number of women suffering from such diseases are adopting specialty milk formulas for their newborns and infants. Thus the rising cases of gestational diabetes are estimated to drive global baby specialty milk formula market growth over the forecast period.
• High Level Of Expenditures On Infant Health Care - According to estimates, within the first year of life of the sample of infants, nearly USD 300,200 was spent on healthcare services
• Huge Number Of Children Suffering From Diseases- For instance, pneumonia, malaria and diarrhea accounted for nearly 28% of global deaths among children under the age of five in the year 2019.
• Rise in Personal Disposable Income- During July 2022, the Bureau of Economic Analysis reported an increase in personal disposable income of USD 37.6 billion (0.2%), while personal income increased by USD 47.0 billion
• Increasing World Population - It was observed that the world's population is estimated to grow by 2 billion people over the next 30 years, to 9.6 billion in 2050 and potentially 10 billion by 2100.

Challenges

• Government Initiative To Spread Awareness About Breastfeeding 
• Declining Fertility Rate In Undeveloped Countries 
• High Cost Of Production