The most popular type is milk formula, commonly known as infant formula, which accounts for a large portion of the global market. Because of the region's vast population and expanding consumer disposable incomes, Asia Pacific currently dominates the worldwide baby food and infant formula sector. Leading manufacturers are refocusing their efforts on emerging markets in Asia Pacific, such as India and China, which are likely to present the industry with several development prospects throughout the forecast period.
In terms of revenue, the worldwide baby formula market was anticipated to be worth more than US$ 32,237.4 Mn in 2019 and is expected to rise at a CAGR of 10.1 percent over the forecast period (2020 to 2027).
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Source:
https://www.coherentmarketinsights.com/market-insight/infant-formula-market-2330
