Growing Up Formula Market

By Source;

Single and Multiple

By Application;

Thermal Barrier Coatings, Anticorrosive Coating and Others

By End-User;

Automotive, Medical, Electrical & Electronics, Power, Optical and Others

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn864201213 Published Date: September, 2025 Updated Date: October, 2025

Growing Up Formula Market Overview

Growing Up Formula Market (USD Million)

Growing Up Formula Market was valued at USD 15913.24 million in the year 2024. The size of this market is expected to increase to USD 23927.63 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 6.0%.


Growing Up Formula Market

*Market size in USD million

CAGR 6.0 %


Study Period2025 - 2031
Base Year2024
CAGR (%)6.0 %
Market Size (2024)USD 15913.24 Million
Market Size (2031)USD 23927.63 Million
Market ConcentrationMedium
Report Pages329
15913.24
2024
23927.63
2031

Major Players

  • Nestle S.A.
  • Able Food Sdn Bhd
  • Perrigo Nutritionals
  • MS Nutrition Sdn Bhd
  • Bodco Limited
  • Novalac
  • Almarai Co.
  • Dana Dairy Group

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Growing Up Formula Market

Fragmented - Highly competitive market without dominant players


The Growing Up Formula Market is showing robust growth as caregivers prioritize nutrition for developing children. More than 40% of sales come from parents choosing fortified formulas that provide essential vitamins, minerals, and proteins to ensure healthy growth and strong immunity.

Focus on Nutrition
An increasing preference for nutrient-dense products is driving consumption. Nearly 35% of families rely on these formulas to bridge nutritional gaps, highlighting their importance in delivering balanced diets and supporting overall well-being for children.

Innovation in Formulations
New product launches are emphasizing probiotics, DHA, and iron enrichment to meet developmental needs. Around 30% of innovations now feature such enhanced formulations, catering to demand for scientifically designed solutions that strengthen immunity and cognitive development.

Retail & Online Growth
Purchasing behavior is shifting, with about 45% of sales happening through large retail chains and e-commerce platforms. This trend underscores the role of convenience and digital access in driving adoption, making formulas more accessible to a wider audience.

Sustainable & Ethical Demand
Sustainability is becoming a defining factor in the market, with close to 25% of brands adopting eco-friendly packaging and responsibly sourced inputs. This demonstrates how environmental and ethical considerations are shaping consumer preferences in growing up formulas.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Source
    2. Market Snapshot, By Application
    3. Market Snapshot, By End-User
    4. Market Snapshot, By Region
  4. Growing Up Formula Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Urbanization and Working Parents
        2. Increasing Health Awareness
        3. Rising Disposable Incomes
        4. Demand for Convenience
      2. Restraints
        1. Regulatory Scrutiny
        2. Consumer Skepticism
        3. Competition from Cow's Milk
        4. Economic Instability
      3. Opportunities
        1. Product Innovation Trends
        2. Emerging Market Expansion
        3. Organic and Non-GMO Formulations
        4. Online Retail Growth
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Growing Up Formula Market, By Source, 2021 - 2031 (USD Million)
      1. Single
      2. Multiple
    2. Growing Up Formula Market, By Application, 2021 - 2031 (USD Million)
      1. Thermal Barrier Coatings
      2. Anticorrosive Coating
      3. Others
    3. Growing Up Formula Market, By End-User, 2021 - 2031 (USD Million)
      1. Automotive
      2. Medical
      3. Electrical & Electronics
      4. Power
      5. Optical
      6. Others
    4. Growing Up Formula Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Nestlé
      2. Danone
      3. Abbott (including its infant / toddler nutrition lines)
      4. Mead Johnson / Reckitt
      5. FrieslandCampina
      6. Perrigo Nutritionals
      7. Almarai
      8. Novalac
      9. Able Food
      10. Bodco
      11. MS Nutrition
      12. Dana Dairy
      13. Triscom Holland
      14. Bellamy’s
      15. Al-Watania / regional dairy / formula players
  7. Analyst Views
  8. Future Outlook of the Market