The U.S. baby infant formula market was valued at $3,889.0 million in 2020, and is projected to reach $6,784.7 million by 2030, registering a CAGR of 8.6% from 2021 to 2030. In 2020, the carbohydrate segment accounted for 56.4% of the market share.
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Based on the insights of various CXOs’ of leading companies, the market has witnessed increase in launch activities and promotion of baby infant formula in the U.S. In addition, recommendation by physicians to use infant formula for babies up to 12 months as a substitute to breastmilk has changed the perception of people, leading to its high consumption. The brand name, level of nutrition, and safety of ingredients play a vital role in influencing the purchase decisions of consumers for baby infant formula products. Americans have gradually become conscious regarding the ingredients, which go into the making of their baby infant formula products, hence, tend to prefer specific trusted brands that cater to their requirements.
In 2020, infant milk accounted for the major market share, and is expected to continue its dominance during the forecast period. CXOs are optimistic about the growth of baby infant formula market in U.S. market, owing to the introduction of organic ingredients in infant products. In addition, hectic lifestyle of people, increase in participation of women in the labor force, and convenience in feeding babies have led to higher consumption of baby infant formula.
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Increasing participation of women in the labor force in the U.S. is a key factor driving the growth of the U.S. baby infant formula market. For instance, according to the U.S. Bureau of Statistics, the working women population has increased from 57.1% in 2018 to 57.5% in 2020. The changing lifestyle of the middle-class population due to rapid urbanization and rising disposable is boosting the U.S. baby infant formula market growth. Moreover, it is perceived that baby infant formulas are rich in nutrients and supplements the growth of the baby is another factor driving the U.S. baby infant formula market. Furthermore, increasing health consciousness among the consumers in the U.S. is boosting the demand for the baby infant formula.
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Key Finding of the Report
- The Growing-up milk segment would witness the fastest growth, registering a CAGR of 9.7% during the forecast period.
- Vitamins segment would witness the fastest growth, registering a CAGR of 14.2% during the forecast period.
- Hard Discounter Stores segment would witness the fastest growth, registering a CAGR of 10.7% during the forecast period.
- Goat Milk segment would witness the fastest growth, registering a CAGR of 11.1% during the forecast period.
- Based on ingredients, the carbohydrate segment contributed to nearly three-fifths of the total market revenue in 2020, and is expected to lead the trail by the end of 2030. The vitamins segment, however, would exhibit the fastest CAGR of 14.2% throughout the forecast period.
Based on distribution channel, the hypermarkets segment held nearly one-third of the total market revenue in 2020, and is expected to lead the trail by the end of 2030. The hard discounter stores segment, simultaneously, would exhibit the fastest CAGR of 10.7% throughout the forecast period.
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The key market players analyzed in the U.S. baby infant formula market report include Arla Foods, Bobbie, Campbell Soups Company, Holle Baby Food AG, Dana Dairy Group, Ltd., Danone S.A., D-Signstore, Else Nutrition Holdings, Inc., Hipp GmbH & Co. Vertrieb KG, Nestle S.A., The Hain Celestial Group, Inc., Abbott Laboratories, Kabrita USA, Nature’s One, LLC., and Reckitt Benckiser Group Plc. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry.
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