Global Breast Milk Substitutes Market Report added at Market Study Report offers industry size, share, growth, trends and forecast analysis up to 2027. Breast Milk Substitutes Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Breast Milk Substitutes market and provides information regarding the revenue for the period 2021 to 2027.

Recently, industry players have been focusing on enhancing their product development and marketing to ensure regulatory compliance and customer satisfaction. For instance, in August 2021, food behemoth Nestlé(C) published its annual compliance report detailing its responsible marketing policies for breastmilk substitutes.

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The breast milk substitutes market is anticipated to witness significant growth by 2027 driven by prominent product demand in key regions across the globe.

The report titled Leading the Way: Responsible Marketing of Breast Milk Substitutes, 2020 Report was based on virtual audits and compliance monitoring activities conducted during the pandemic in 2020. It offered insights on Nestlé(C)’s WHO Code compliance system as well as highlighted the company’s prompt actions to address non-compliance concerns.

Subsequently, lucrative strategies adopted by companies to fortify their market presence have positively impacted the global competitive landscape. However, increasing efforts by government and health agencies to promote the use of breast milk and impose stringent regulations for manufacturing and marketing breast milk substitutes have hindered industry expansion to some extent.

The breast milk substitutes market has been categorized in terms of substitute type, formula type, distribution channel, and region. On the basis of substitute type, the market has further been divided into soy-based formula, milk-based formula, hypoallergenic formula, and others.

The milk-based formula sub-segment is estimated to garner a sizable revenue by the end of 2027, expanding at a steady CAGR through the assessment timeframe. Declining rate of breastfeeding, surging number of working mothers, and rapid urbanization are set to drive product demand in the coming years.

With regards to formula type, the breast milk substitutes market has been segmented into ready-to-use, concentrated liquid, and powdered. The ready-to-use sub-segment holds a major revenue share in the market and is projected to grow at a robust pace over 2021-2027. Ready-to-use formula is easy to use in less time and offers high convenience, which is likely to enhance product demand among working women professionals over the following years.

The global market consists of numerous companies including Fonterra Co-operative Group, The Kraft Heinz Company, Reckitt Benckiser Group, Abbott Nutrition, FrieslandCampina, Danone Nutricia, and Hyproca.

Based on distribution channel, the market has been bifurcated into retail stores, pharmacies, and others. The retail stores sub-segment is calculated to observe notable growth to reach a substantial valuation by the end of 2027. Prevalent expansion of supply chains and retail stores in developing countries, coupled with highly accessible distribution channels, is slated to boost segmental growth through the review period.

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