Infant Formula Market to Reach USD 207.19 Billion by 2034
The global infant formula market was valued at USD 82.4 billion in 2024 and is projected to grow to approximately USD 207.19 billion by 2034. This represents a compound annual growth rate (CAGR) of 9.55%, according to a study published by Towards Healthcare, affiliated with Precedence Research.
Key Drivers of Market Growth
- Rapid urbanization worldwide
- Rising number of working mothers
- Increased disposable income levels
- Greater nutritional awareness among parents
- Demand for safe and convenient alternatives to breastfeeding
- Preference for premium, organic, and fortified infant nutrition products
Market Insights
The market expansion is fueled by the evolving lifestyle of parents who seek trustworthy and convenient solutions for infant nutrition. With more working mothers and urban families, the need for balanced and quality feeding options has surged.
“Parents today are more knowledgeable regarding balanced feeding alternatives to formula, and a desire for quality nutrition has increased demand for more premium infant foods, organic foods, and fortified infant formula.”
About the Research
The study was released on November 7, 2025, by Precedence Research in Ottawa and is available through Towards Healthcare. It highlights the dynamic changes and growth opportunities in the infant formula sector driven by demographic and socio-economic trends.
Author's summary: Expanding urban populations and increased nutritional awareness are accelerating the infant formula market’s growth, tripling its value by 2034 as parents prefer convenient, safe feeding options.