$1.9bn
$XXX.Xm
1,765
14
$XXX.Xm
As information about the importance of breastfeeding has spread recently, instant formula manufacturers have struggled to maintain growth. As a substitute for breastmilk, demand for infant formula is directly determined by the popularity of breastfeeding. According to the Centers for Disease Control and Prevention (CDC)'s 2020 Breastfeeding Report Card, the percentage of infants exclusively breastfed for the first six months after birth has grown to 25.6%, up from 20.6% in 2015. As a result of this boost, the demand for infant formula has been hampered. In addition, the percentage of babies who have been breastfed at any point in their lives has expanded from 80.2% in 2015 to 84.1% in 2020, according to the CDC (latest data available).
Industry revenue has declined at a CAGR of 4.3 % over the past five years, to reach an estimated $1.9bn in 2024.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Abbott Laboratories | 1,143.5 | 206.3 | 18.0 | |
Mead Johnson | 421.3 | 110.4 | 26.2 | |
Perrigo Company PLC | 244.2 | 15.7 | 6.4 |
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Industry revenue is measured across several distinct product and services lines, including Powdered formula, Concentrated liquid formula and Ready-to-feed formula. Powdered formula is the largest segment of the Infant Formula Manufacturing in the US.
Powder formula is the most commonly used variety of infant formula
Infant formula manufacturers make infant formula, a powdered substitute for breast feeding that consumers use to support adequate growth of infants.
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NAICS 31151 - Infant Formula Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Instant formula manufacturers are having trouble keeping up with demand. The percentage of women who breastfeed has an immediate impact on formula, which serves as a substitu...
Learn about an industry's products and services, markets and trends in international trade.
Infant formula manufacturers sell a range of goods to meet the requirements of infants. The formula and dietary requirements have been offered for years, including dairy-free...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The industry is highly concentrated, with few locations. The geographic distribution of infant formula manufacturers is based mainly on the distribution of the major companie...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
The industry is moderately competitive, with four companies controlling most operations. Companies in this industry fight based on price, product types and brand.
Learn about the performance of the top companies in the industry.
Several major corporations control the industry. These businesses spend significantly in R&D to create fresh, cutting-edge infant formula products and have strong market powe...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The industry is subject to strict regulation. Although food items are already subject to high safety standards, infants are more susceptible to illnesses if their food is uns...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
The industry involves a lot of purchases. The price of milk and other commodities significantly impacts the cost of purchases and the typical industry profit margin.
Including values and annual change:
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Key data sources in the US include:
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These sources include:
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The market size of the Infant Formula Manufacturing in the US industry in United States is $1.9bn in 2024.
There are 14 businesses in the Infant Formula Manufacturing in the US industry in United States, which has declined at a CAGR of 1.4 % between 2019 and 2024.
The market size of the Infant Formula Manufacturing in the US industry in United States has been declining at a CAGR of 4.3 % between 2019 and 2024.
Over the next five years, the Infant Formula Manufacturing in the US industry in United States is expected to decline.
The biggest companies operating in the Infant Formula Manufacturing market in United States are Abbott Laboratories, Mead Johnson and Perrigo Company PLC
Manufacturing powder infant formula and Manufacturing concentrated liquid formula are part of the Infant Formula Manufacturing in the US industry.
The company holding the most market share in United States is Abbott Laboratories.
The level of competition is moderate and increasing in the Infant Formula Manufacturing in the US industry in United States.