Milk-based Formula Breast Milk Substitute Market Insights, Global Outlook and Forecast 2022-2028
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Breastmilk substitute (BMS): any food being marketed or otherwise represented as a partial or total replacement for breastmilk, whether or not suitable for that purpose.
The latest research study released by Market IntelliX evaluates market size and forecasts of Milk-based Formula Breast Milk Substitute in global, including the following market information:
Global Milk-based Formula Breast Milk Substitute Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global Milk-based Formula Breast Milk Substitute Market Sales, 2017-2022, 2023-2028, (K MT)
Global top five Milk-based Formula Breast Milk Substitute companies in 2021 (%)
The global Milk-based Formula Breast Milk Substitute market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Powdered Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Milk-based Formula Breast Milk Substitute include Danone, Nestle, Abbott Nutrition, Mead Johnson (Reckitt Benckiser) and Kraft Heinz, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MI has surveyed the Milk-based Formula Breast Milk Substitute manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Market Segmentations:
Global Milk-based Formula Breast Milk Substitute Market, by Type, 2017-2022, 2023-2028 ($ Millions) & (K MT)
Global Milk-based Formula Breast Milk Substitute Market Segment Percentages, by Type, 2021 (%)
Powdered
Concentrated Liquid
Ready-to-use
Global Milk-based Formula Breast Milk Substitute Market, by Application, 2017-2022, 2023-2028 ($ Millions) & (K MT)
Global Milk-based Formula Breast Milk Substitute Market Segment Percentages, by Application, 2021 (%)
Pharmacies
Retail Stores
Others
Global Milk-based Formula Breast Milk Substitute Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions) & (K MT)
Global Milk-based Formula Breast Milk Substitute Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Milk-based Formula Breast Milk Substitute revenues in global market, 2017-2022 (Estimated), ($ millions)
Key companies Milk-based Formula Breast Milk Substitute revenues share in global market, 2021 (%)
Key companies Milk-based Formula Breast Milk Substitute sales in global market, 2017-2022 (Estimated), (K MT)
Key companies Milk-based Formula Breast Milk Substitute sales share in global market, 2021 (%)
The report presents profiles of competitors in the market, Some of the prominent key players covered:
Danone
Nestle
Abbott Nutrition
Mead Johnson (Reckitt Benckiser)
Kraft Heinz
Key Takeaways from this Report
Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
Analyze the sales and distribution channels across key geographies to improve top-line revenues.
Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
1 Introduction to Research & Analysis Reports
1.1 Milk-based Formula Breast Milk Substitute Market Definition
1.2 Market Segments
1.2.1 Market by Type
1.2.2 Market by Application
1.3 Global Milk-based Formula Breast Milk Substitute Market Overview
1.4 Features & Benefits of This Report
1.5 Methodology & Sources of Information
1.5.1 Research Methodology
1.5.2 Research Process
1.5.3 Base Year
1.5.4 Report Assumptions & Caveats
2 Global Milk-based Formula Breast Milk Substitute Overall Market Size
2.1 Global Milk-based Formula Breast Milk Substitute Market Size: 2021 VS 2028
2.2 Global Milk-based Formula Breast Milk Substitute Revenue, Prospects & Forecasts: 2017-2028
2.3 Global Milk-based Formula Breast Milk Substitute Sales: 2017-2028
3 Company Landscape
3.1 Top Milk-based Formula Breast Milk Substitute Players in Global Market
3.2 Top Global Milk-based Formula Breast Milk Substitute Companies Ranked by Revenue
3.3 Global Milk-based Formula Breast Milk Substitute Revenue by Companies
3.4 Global Milk-based Formula Breast Milk Substitute Sales by Companies
3.5 Global Milk-based Formula Breast Milk Substitute Price by Manufacturer (2017-2022)
3.6 Top 3 and Top 5 Milk-based Formula Breast Milk Substitute Companies in Global Market, by Revenue in 2021
3.7 Global Manufacturers Milk-based Formula Breast Milk Substitute Product Type
3.8 Tier 1, Tier 2 and Tier 3 Milk-based Formula Breast Milk Substitute Players in Global Market
3.8.1 List of Global Tier 1 Milk-based Formula Breast Milk Substitute Companies
3.8.2 List of Global Tier 2 and Tier 3 Milk-based Formula Breast Milk Substitute Companies
4 Sights by Product
4.1 Overview
4.1.1 By Type - Global Milk-based Formula Breast Milk Substitute Market Size Markets, 2021 & 2028
4.1.2 Powdered
4.1.3 Concentrated Liquid
4.1.4 Ready-to-use
4.2 By Type - Global Milk-based Formula Breast Milk Substitute Revenue & Forecasts
4.2.1 By Type - Global Milk-based Formula Breast Milk Substitute Revenue, 2017-2022
4.2.2 By Type - Global Milk-based Formula Breast Milk Substitute Revenue, 2023-2028
4.2.3 By Type - Global Milk-based Formula Breast Milk Substitute Revenue Market Share, 2017-2028
4.3 By Type - Global Milk-based Formula Breast Milk Substitute Sales & Forecasts
4.3.1 By Type - Global Milk-based Formula Breast Milk Substitute Sales, 2017-2022
4.3.2 By Type - Global Milk-based Formula Breast Milk Substitute Sales, 2023-2028
4.3.3 By Type - Global Milk-based Formula Breast Milk Substitute Sales Market Share, 2017-2028
4.4 By Type - Global Milk-based Formula Breast Milk Substitute Price (Manufacturers Selling Prices), 2017-2028
5 Sights By Application
5.1 Overview
5.1.1 By Application - Global Milk-based Formula Breast Milk Substitute Market Size, 2021 & 2028
5.1.2 Pharmacies
5.1.3 Retail Stores
5.1.4 Others
5.2 By Application - Global Milk-based Formula Breast Milk Substitute Revenue & Forecasts
5.2.1 By Application - Global Milk-based Formula Breast Milk Substitute Revenue, 2017-2022
5.2.2 By Application - Global Milk-based Formula Breast Milk Substitute Revenue, 2023-2028
5.2.3 By Application - Global Milk-based Formula Breast Milk Substitute Revenue Market Share, 2017-2028
5.3 By Application - Global Milk-based Formula Breast Milk Substitute Sales & Forecasts
5.3.1 By Application - Global Milk-based Formula Breast Milk Substitute Sales, 2017-2022
5.3.2 By Application - Global Milk-based Formula Breast Milk Substitute Sales, 2023-2028
5.3.3 By Application - Global Milk-based Formula Breast Milk Substitute Sales Market Share, 2017-2028
5.4 By Application - Global Milk-based Formula Breast Milk Substitute Price (Manufacturers Selling Prices), 2017-2028
6 Sights by Region
6.1 By Region - Global Milk-based Formula Breast Milk Substitute Market Size, 2021 & 2028
6.2 By Region - Global Milk-based Formula Breast Milk Substitute Revenue & Forecasts
6.2.1 By Region - Global Milk-based Formula Breast Milk Substitute Revenue, 2017-2022
6.2.2 By Region - Global Milk-based Formula Breast Milk Substitute Revenue, 2023-2028
6.2.3 By Region - Global Milk-based Formula Breast Milk Substitute Revenue Market Share, 2017-2028
6.3 By Region - Global Milk-based Formula Breast Milk Substitute Sales & Forecasts
6.3.1 By Region - Global Milk-based Formula Breast Milk Substitute Sales, 2017-2022
6.3.2 By Region - Global Milk-based Formula Breast Milk Substitute Sales, 2023-2028
6.3.3 By Region - Global Milk-based Formula Breast Milk Substitute Sales Market Share, 2017-2028
6.4 North America
6.4.1 By Country - North America Milk-based Formula Breast Milk Substitute Revenue, 2017-2028
6.4.2 By Country - North America Milk-based Formula Breast Milk Substitute Sales, 2017-2028
6.4.3 US Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.4.4 Canada Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.4.5 Mexico Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.5 Europe
6.5.1 By Country - Europe Milk-based Formula Breast Milk Substitute Revenue, 2017-2028
6.5.2 By Country - Europe Milk-based Formula Breast Milk Substitute Sales, 2017-2028
6.5.3 Germany Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.5.4 France Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.5.5 U.K. Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.5.6 Italy Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.5.7 Russia Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.5.8 Nordic Countries Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.5.9 Benelux Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.6 Asia
6.6.1 By Region - Asia Milk-based Formula Breast Milk Substitute Revenue, 2017-2028
6.6.2 By Region - Asia Milk-based Formula Breast Milk Substitute Sales, 2017-2028
6.6.3 China Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.6.4 Japan Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.6.5 South Korea Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.6.6 Southeast Asia Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.6.7 India Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.7 South America
6.7.1 By Country - South America Milk-based Formula Breast Milk Substitute Revenue, 2017-2028
6.7.2 By Country - South America Milk-based Formula Breast Milk Substitute Sales, 2017-2028
6.7.3 Brazil Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.7.4 Argentina Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.8 Middle East & Africa
6.8.1 By Country - Middle East & Africa Milk-based Formula Breast Milk Substitute Revenue, 2017-2028
6.8.2 By Country - Middle East & Africa Milk-based Formula Breast Milk Substitute Sales, 2017-2028
6.8.3 Turkey Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.8.4 Israel Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.8.5 Saudi Arabia Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
6.8.6 UAE Milk-based Formula Breast Milk Substitute Market Size, 2017-2028
7 Manufacturers & Brands Profiles
7.1 Danone
7.1.1 Danone Corporate Summary
7.1.2 Danone Business Overview
7.1.3 Danone Milk-based Formula Breast Milk Substitute Major Product Offerings
7.1.4 Danone Milk-based Formula Breast Milk Substitute Sales and Revenue in Global (2017-2022)
7.1.5 Danone Key News
7.2 Nestle
7.2.1 Nestle Corporate Summary
7.2.2 Nestle Business Overview
7.2.3 Nestle Milk-based Formula Breast Milk Substitute Major Product Offerings
7.2.4 Nestle Milk-based Formula Breast Milk Substitute Sales and Revenue in Global (2017-2022)
7.2.5 Nestle Key News
7.3 Abbott Nutrition
7.3.1 Abbott Nutrition Corporate Summary
7.3.2 Abbott Nutrition Business Overview
7.3.3 Abbott Nutrition Milk-based Formula Breast Milk Substitute Major Product Offerings
7.3.4 Abbott Nutrition Milk-based Formula Breast Milk Substitute Sales and Revenue in Global (2017-2022)
7.3.5 Abbott Nutrition Key News
7.4 Mead Johnson (Reckitt Benckiser)
7.4.1 Mead Johnson (Reckitt Benckiser) Corporate Summary
7.4.2 Mead Johnson (Reckitt Benckiser) Business Overview
7.4.3 Mead Johnson (Reckitt Benckiser) Milk-based Formula Breast Milk Substitute Major Product Offerings
7.4.4 Mead Johnson (Reckitt Benckiser) Milk-based Formula Breast Milk Substitute Sales and Revenue in Global (2017-2022)
7.4.5 Mead Johnson (Reckitt Benckiser) Key News
7.5 Kraft Heinz
7.5.1 Kraft Heinz Corporate Summary
7.5.2 Kraft Heinz Business Overview
7.5.3 Kraft Heinz Milk-based Formula Breast Milk Substitute Major Product Offerings
7.5.4 Kraft Heinz Milk-based Formula Breast Milk Substitute Sales and Revenue in Global (2017-2022)
7.5.5 Kraft Heinz Key News
8 Global Milk-based Formula Breast Milk Substitute Production Capacity, Analysis
8.1 Global Milk-based Formula Breast Milk Substitute Production Capacity, 2017-2028
8.2 Milk-based Formula Breast Milk Substitute Production Capacity of Key Manufacturers in Global Market
8.3 Global Milk-based Formula Breast Milk Substitute Production by Region
9 Key Market Trends, Opportunity, Drivers and Restraints
9.1 Market Opportunities & Trends
9.2 Market Drivers
9.3 Market Restraints
10 Milk-based Formula Breast Milk Substitute Supply Chain Analysis
10.1 Milk-based Formula Breast Milk Substitute Industry Value Chain
10.2 Milk-based Formula Breast Milk Substitute Upstream Market
10.3 Milk-based Formula Breast Milk Substitute Downstream and Clients
10.4 Marketing Channels Analysis
10.4.1 Marketing Channels
10.4.2 Milk-based Formula Breast Milk Substitute Distributors and Sales Agents in Global
11 Conclusion
12 Appendix
12.1 Note
12.2 Examples of Clients
12.3 Disclaimer
Research Methodology:
Milk based Formula Breast Milk Substitute Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
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Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
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