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Strategy Briefing

Market Overview: Identifying New Trends and Opportunities in the Global Infant Formula Market, Part I

65 pages, Sep 2016

US$1,325

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About This Report

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

With lower birth rates, an increasing proportion of women in employment and growing campaigns to promote breastfeeding, milk formula is constantly evolving. The slowdown in sales in developed regions has caused leading players to target key emerging markets, which are driving the global market. This global briefing investigates the performance of milk formula across regions, analysing key growth drivers and challenges for the future.

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Overview

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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

Milk formula seeing strong growth

Milk formula retail sales were valued at US$47 billion globally in 2015. It is not only one of the largest categories within health and wellness (HW) packaged food but was also a very fast growing one during the review period, despite the decline in birth rates and an increasing number of breastfeeding campaigns. The main factor fuelling milk formula sales is the increasing employed female population.

China is fuelling global milk formula sales

Asia Pacific is the key region, led by China, which saw the largest absolute growth over 2010-2015, followed by Hong Kong, Indonesia and Vietnam. China is seeing a movement towards premiumisation – a trend which is apparent in both emerging and developed markets.

Fierce competition among leading international players

Key international companies account for the majority of the market globally, particularly in North America and Latin America, whereas other regions, like Western Europe and Asia Pacific, are more fragmented. The major companies are targeting China, which is the largest and fastest growing market globally.

Focus on toddler milk formula to target older children

Manufacturers are continuing to focus on the better growth prospects in toddler milk formula, in order to widen their consumer base to include older children. This reflects in part the increasing awareness of breast milk’s health benefits, particularly in developed regions, and especially during the first year of age. The growth of toddler milk formula will continue in the forecast period.

Milk formula sales will keep growing in the forecast period

Between 2015-2020, milk formula sales will continue to grow rapidly. China will continue to lead growth, while Indonesia and Saudi Arabia will also offer significant business opportunities. Focusing on toddler milk formula will remain important in developed markets.

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Introduction

Scope

Key findings

Objectives of global briefing

Impact of Consumer Trends on Milk Formula Sales

HW milk formula outperforms wider HW packaged food categories

Working mothers drive milk formula sales

Birth rates much higher in developing countries

Massive discrepancy in breastfeeding rates between countries

South Korea and Poland: Highest and lowest breastfeeding rates

Weak advertising legislation key advantage for milk formula sales

The increase of working mothers make milk formula more desirable

Long maternity leave: A n advantage to breastfeed?

IMPACT OF CONSUMER TRENDS ON MILK FORMULA SALES

Key factors influencing high sales in core markets

Global Market Insight

Up by 7% in 2015, FF drives once again HW milk formula sales

China accounts for 43% of HW milk formula sales in 2015

China is key to global growth

Best performance coming from toddler milk formula

Powder milk formula outperforms liquid varieties

Nestlé leads, accounting for 22% of global milk formula sales

Company competition is fierce and varies regionally

Nestlé best performance coming from emerging regions

The fight for China: Nestlé versus Mead Johnson

The fight for China: Nestlé versus Danone

Melamine Chinese scandal : M ilk formula’s inflection point

From local to international to back to local

Key Trends and Innovations

Affordability of powder formulas is key

Individually packaged formula brings a key competitive advantage

New way to make baby bottles: Nespresso for babies

Targeting toddlers is key: BabyNes’s success

Good night's sleep ranges looking for convenience

Move towards premiumisation

Manufacturers continued to launch premium products in China

Future Outlook

HW milk formula will keep outperforming other food categories

Over 20 times higher growth in emerging t han developed markets

Mimicking breast milk key to fuel milk formula sales

China will keep leading the growth within HW milk formula

India to be explored

MEA the second fastest growing region over 2015-2020

Where to invest in the Middle East and Africa?

USA shows a drop in milk formula volume sales

Toddler milk formula performs well in saturated developed markets

Key recommendations for milk formula manufacturers

Appendix

National policies to support breastfeeding in leading markets I

National policies to support breastfeeding in leading markets II

National policies to support breastfeeding in leading markets III

National policies to further fuel breastfeeding in leading markets IV

Health and wellness product coverage

Health and wellness category definitions

Appendix: Competitor Analytics

Competitor Analytics tool

Overview

Competitors

Market Overlap

Treemap

Overlap Matrices

Appendix: Industry Forecast Model

About Euromonitor International’s Industry Forecast Model

Soft drivers and the Industry Forecast Model

Growth decomposition explained

Significance and applications for growth decomposition

Key applications for Industry Forecast Models

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Megatrends

Strategy Briefing

Market Overview: Identifying New Trends and Opportunities in the Global Infant Formula Market, Part I

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Milk formula seeing strong growth

China is fuelling global milk formula sales

Fierce competition among leading international players

Focus on toddler milk formula to target older children

Milk formula sales will keep growing in the forecast period

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

Objectives of global briefing

Impact of Consumer Trends on Milk Formula Sales

HW milk formula outperforms wider HW packaged food categories

Working mothers drive milk formula sales

Birth rates much higher in developing countries

Massive discrepancy in breastfeeding rates between countries

South Korea and Poland: Highest and lowest breastfeeding rates

Weak advertising legislation key advantage for milk formula sales

The increase of working mothers make milk formula more desirable

Long maternity leave: A n advantage to breastfeed?

IMPACT OF CONSUMER TRENDS ON MILK FORMULA SALES

Key factors influencing high sales in core markets

Global Market Insight

Up by 7% in 2015, FF drives once again HW milk formula sales

China accounts for 43% of HW milk formula sales in 2015

China is key to global growth

Best performance coming from toddler milk formula

Powder milk formula outperforms liquid varieties

Nestlé leads, accounting for 22% of global milk formula sales

Company competition is fierce and varies regionally

Nestlé best performance coming from emerging regions

The fight for China: Nestlé versus Mead Johnson

The fight for China: Nestlé versus Danone

Melamine Chinese scandal : M ilk formula’s inflection point

From local to international to back to local

Key Trends and Innovations

Affordability of powder formulas is key

Individually packaged formula brings a key competitive advantage

New way to make baby bottles: Nespresso for babies

Targeting toddlers is key: BabyNes’s success

Good night's sleep ranges looking for convenience

Move towards premiumisation

Manufacturers continued to launch premium products in China

Future Outlook

HW milk formula will keep outperforming other food categories

Over 20 times higher growth in emerging t han developed markets

Mimicking breast milk key to fuel milk formula sales

China will keep leading the growth within HW milk formula

India to be explored

MEA the second fastest growing region over 2015-2020

Where to invest in the Middle East and Africa?

USA shows a drop in milk formula volume sales

Toddler milk formula performs well in saturated developed markets

Key recommendations for milk formula manufacturers

Appendix

National policies to support breastfeeding in leading markets I

National policies to support breastfeeding in leading markets II

National policies to support breastfeeding in leading markets III

National policies to further fuel breastfeeding in leading markets IV

Health and wellness product coverage

Health and wellness category definitions

Appendix: Competitor Analytics

Competitor Analytics tool

Overview

Competitors

Market Overlap

Treemap

Overlap Matrices

Appendix: Industry Forecast Model

About Euromonitor International’s Industry Forecast Model

Soft drivers and the Industry Forecast Model

Growth decomposition explained