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Explore how China has emerged as the leading global market for infant formula, driving significant demand and growth in the industry. Understand the key factors behind this dominance, including economic growth, increasing disposable income, and rising concerns over infant nutrition. Learn about the implications for global manufacturers and the overall impact on the international infant formula market.
China is the largest market for baby milk and infant formula globally. Statista Market Insights projects that sales in China will reach nearly $17 billion in 2024. In comparison, the United States, the second-largest market, will have sales of $6.2 billion. Despite China's market size, per-capita spending on infant formula is higher in the U.S. and the lowest among the top five markets in China. UNICEF data indicates that formula use is prevalent in more developed countries and is becoming common among China's growing middle class, though it hasn't fully penetrated all areas of the country, leading to lower per-capita spending. Chinese families, like those in other countries, face aggressive baby formula marketing, with urban Chinese women reporting the highest exposure to such advertisements in a recent survey. Globally, the baby formula market is substantial, valued at nearly $54 billion, driven by high prices.
The survey also highlights Vietnam as a country heavily influenced by formula marketing. Vietnam ranks as the fifth largest formula market according to Statista, with another Asian country, Indonesia, ranking third. Vietnam has the highest per-capita spending on infant formula among the top five markets, with only 17 percent of babies exclusively breastfed for the first six months. Bottle feeding is less common in East Asia and the Pacific compared to Eastern Europe, North America, and the Middle East, but more common than in South Asia, Eastern Africa, or the global average, according to UNICEF.
For questions or comments write to writers@bostonbrandmedia.com
Source: Statista
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