At 10.4% CAGR, the Asia Pacific Human Milk Fortifier Market is Projected to be worth US$ 159.05 Million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific human milk fortifier market is expected to grow from US$ 79.53 million in 2023 to US$ 159.05 million by 2030, registering a CAGR of 10.4% from 2023 to 2030. Increase in number of preterm births and strategic initiatives by key market players are the critical factors attributed to the Asia Pacific human milk fortifier market expansion.

Human milk fortifier manufacturers across the region invest significantly in strategic developments such as product launches, mergers and acquisitions, and business expansion to attract consumers and enhance their market position. For instance, in January 2022, Prolacta Bioscience introduced human milk fortifiers in Japan. The launch was aimed to enter the untapped market in the country and help improve newborn’s health. In November 2020, Lifeblood Milk and the South Australian Health and Medical Research Institute (SAHMRI) entered into collaboration with CSIRO, Australia’s national science agency. The partnership was aimed at developing human milk fortifiers to improve nutrition and overall growth in preterm babies. Key players in the human milk fortifier market are adopting e-commerce platforms to meet the growing demand for nutritional supplements for newborn babies. For instance, in September 2021, Neolacta Lifesciences Pvt. Ltd launched its products, including human milk fortifiers, on e-commerce platforms to ensure easy availability of its products, such as Neolacta Human Breast Milk and Neolacta MMF (Mother's Milk Fortifier), to parents. Thus, strategic initiatives by key market players are driving the Asia Pacific human milk fortifier market. This is expected to drive the Asia Pacific human milk fortifier market during the forecast period.

On the contrary, lack of awareness among parents and caregivers hurdles the growth of Asia Pacific human milk fortifier market. 

Based on form, the Asia Pacific human milk fortifier market is bifurcated into powder and liquid. The powder segment held 68.7% market share in 2023, amassing US$ 54.61 million. It is projected to garner US$ 113.31 million by 2030 to expand at 11.0% CAGR during 2023–2030.

Based on distribution channel, the Asia Pacific human milk fortifier market is bifurcated into online and offline. The offline segment held 80.6% market share in 2023, amassing US$ 64.10 million. It is projected to garner US$ 127.00 million by 2030 to expand at 10.3% CAGR during 2023–2030.

Based on country, the Asia Pacific human milk fortifier market has been categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific.  Our regional analysis states that China captured 39.6% share of Asia Pacific human milk fortifier market in 2023. It was assessed at US$ 31.53 million in 2023 and is likely to hit US$ 60.92 million by 2030, exhibiting a CAGR of 9.9% during 2023–2030.            

Key players operating in the Asia Pacific human milk fortifier market are Abbott Laboratories, NeoLacta Lifesciences Pvt Ltd, Nestle SA, Prolacta Bioscience Inc, Lead Care International Ltd, Raptakos, Brett & Co Ltd, Danone SA, and Reckitt Benckiser Group Plc, among others.

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