Baby Milk & Infant Formula - Colombia

Colombia

Revenue in the Baby Milk & Infant Formula market amounts to €220.90m in 2024. The market is expected to grow annually by 4.03% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€15,470m in 2024).
In relation to total population figures, per person revenues of €4.22 are generated in 2024.
In the Baby Milk & Infant Formula market, volume is expected to amount to 15.01m kg by 2029. The Baby Milk & Infant Formula market is expected to show a volume growth of 2.4% in 2025.
The average volume per person in the Baby Milk & Infant Formula market is expected to amount to 0.3kg in 2024.

Key regions: South Korea, India, United Kingdom, United States, Japan

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Comparación de regiones

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Analyst Opinion

The Baby Milk & Infant Formula Market in Colombia is experiencing negligible growth due to low birth rates and increasing awareness of breastfeeding benefits. Factors such as changing consumer preferences and government regulations are impacting this growth rate.

Customer preferences: In Colombia, there has been a noticeable increase in demand for organic and natural baby milk and infant formula, driven by a growing awareness of the importance of providing healthy and clean nutrition for infants. This trend is also influenced by the rising popularity of breastfeeding, with many mothers opting for organic options when they are unable to breastfeed. Additionally, there has been a shift towards plant-based alternatives, reflecting a broader trend towards plant-based diets in the country.

Trends in the market: In Colombia, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is experiencing a shift towards organic and natural products. This trend is driven by the increasing awareness among parents about the benefits of organic and natural products for their babies. As a result, major players in the market are launching new organic and natural options to cater to this demand. This trend is expected to continue and grow, as consumers become more health-conscious and seek out healthier options for their children. This presents an opportunity for industry stakeholders to tap into this growing market and differentiate themselves by offering high-quality organic and natural baby milk and infant formula products.

Local special circumstances: In Colombia, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is influenced by the country's diverse geography and cultural norms. The mountainous terrain and limited infrastructure in rural areas make it challenging for traditional modes of distribution, leading to a rise in online sales and home delivery services. Additionally, the country's strong cultural emphasis on breastfeeding has resulted in strict regulations on the advertising and promotion of infant formula. These factors contribute to the unique dynamics of the market and shape consumer preferences.

Underlying macroeconomic factors: The Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is heavily influenced by macroeconomic factors such as population growth, increasing disposable income, and changing consumer preferences. Countries with strong economic growth and rising per capita income are experiencing higher demand for premium and organic baby food products. Additionally, government policies promoting breastfeeding and regulating the marketing of baby food products also impact market growth. The rising urban population and changing lifestyles have also led to a shift towards convenient and ready-to-feed baby food products, driving market growth.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.