Baby Milk & Infant Formula - Uruguay

Uruguay

Revenue in the Baby Milk & Infant Formula market amounts to €15.63m in 2024. The market is expected to grow annually by 5.78% (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 €4.57 are generated in 2024.
In the Baby Milk & Infant Formula market, volume is expected to amount to 0.69m kg by 2029. The Baby Milk & Infant Formula market is expected to show a volume growth of 5.0% in 2025.
The average volume per person in the Baby Milk & Infant Formula market is expected to amount to 0.2kg in 2024.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Baby Milk & Infant Formula Market in Uruguay is experiencing minimal growth, influenced by factors such as low birth rates and the government's promotion of breastfeeding. Despite this, the market continues to expand due to the increasing demand for high-quality infant nutrition products.

Customer preferences: The Baby Milk & Infant Formula Market within the Baby Food Market in Uruguay has experienced a notable shift towards organic and natural products, driven by the growing awareness of the benefits of a healthy and balanced diet for infants. This trend is also influenced by the increasing preference for locally sourced ingredients and environmentally sustainable practices. Moreover, with the rise of working mothers, there is a growing demand for convenient and ready-to-use formula options, leading to a surge in sales of liquid and powder-based products.

Trends in the market: In Uruguay, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is experiencing a shift towards organic and all-natural products. This trend is driven by increasing awareness among parents about the benefits of natural ingredients and the potential harm of chemicals and additives in traditional formulas. As a result, there has been a rise in demand for organic and clean label products. This trend is expected to continue, with industry stakeholders focusing on developing more natural and organic options to cater to this growing demand. Additionally, there is a rise in online sales of baby food and formula, as more parents turn to e-commerce for convenience and safety during the COVID-19 pandemic. This trend is significant for industry stakeholders as it presents opportunities for growth and innovation, but also poses challenges in terms of supply chain and distribution.

Local special circumstances: In Uruguay, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is heavily influenced by the country's small population and high urbanization rate. This has led to a strong demand for convenient and ready-to-use baby food products. Additionally, strict regulations on the advertising and labeling of baby food products have created a competitive market where companies must focus on product quality and safety to gain consumer trust. The country's strong social and cultural support for breastfeeding also plays a significant role in shaping the market, with many companies offering breastfeeding support and education programs alongside their baby food products.

Underlying macroeconomic factors: The Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is heavily impacted by macroeconomic factors such as consumer spending power, population growth, and government policies. In countries with a growing middle class and increasing disposable income, the demand for premium baby milk and infant formula products is on the rise. On the other hand, countries with economic instability and high inflation rates may see a decline in market growth due to reduced consumer purchasing power. Additionally, government initiatives to promote breastfeeding and regulate the marketing of baby food products can also affect market performance.

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.