Baby Milk & Infant Formula - Mexico

Mexico

Revenue in the Baby Milk & Infant Formula market amounts to €0.87bn in 2024. The market is expected to grow annually by 4.03% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€15,630m in 2024).
In relation to total population figures, per person revenues of €6.70 are generated in 2024.
In the Baby Milk & Infant Formula market, volume is expected to amount to 43.18m kg by 2029. The Baby Milk & Infant Formula market is expected to show a volume growth of 2.1% 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

Mercado

Región

Comparación de regiones

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Analyst Opinion

The Baby Milk & Infant Formula Market in Mexico has seen minimal growth due to factors such as low birth rates, increasing breastfeeding rates, and government initiatives promoting breastfeeding. This has impacted the market's growth rate, but convenience and health concerns continue to drive demand for these products.

Customer preferences: As parents become more health-conscious, there has been a growing demand for organic and natural baby formula options. This trend is driven by concerns over potential harmful additives and a desire for healthier options for their babies. In addition, the increasing popularity of plant-based diets among consumers has also influenced the demand for plant-based infant formula. Furthermore, as more mothers join the workforce, there has been a growing demand for convenient and on-the-go baby formula solutions, leading to the rise of ready-to-drink formula products.

Trends in the market: In Mexico, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market has seen a rise in demand for organic and natural products. This trend is driven by health-conscious parents who are willing to pay a premium for high-quality and safe options for their infants. Additionally, there is a growing trend towards online shopping for baby food products, as well as an increase in the use of social media for product recommendations. These trends have significant implications for manufacturers, as they must adapt to changing consumer preferences and invest in e-commerce and digital marketing strategies to remain competitive in the market.

Local special circumstances: In Mexico, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is heavily influenced by the country's strong cultural emphasis on family and traditional values. This has led to a high demand for locally sourced and organic baby food products. Additionally, government regulations promoting breastfeeding and restrictions on advertising formula have also impacted the market. Another factor is the large population of working mothers, driving the need for convenient and nutritious baby food options. These unique factors have shaped the market dynamics and contributed to the growth of the Baby Milk & Infant Formula Market in Mexico.

Underlying macroeconomic factors: The Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is highly impacted by macroeconomic factors such as economic growth, consumer purchasing power, and government regulations. Countries with a stable economic environment and rising disposable income are likely to witness higher demand for baby milk and infant formula products. In addition, favorable government policies and investments in healthcare infrastructure can also play a crucial role in driving market growth. Moreover, the increasing birth rates and growing awareness about the importance of proper nutrition for infants are fueling the demand for these products, especially in developing countries. However, fluctuating raw material prices and stringent regulations on product safety and labeling in some regions can hinder 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.