At 8.9% CAGR, the South America Human Milk Fortifier Market is Projected to be worth US$ 56.01 Million by 2030, says Business Market Insights

According to Business Market Insights’ research, the South America human milk fortifier market is expected to grow from US$ 30.74 million in 2023 to US$ 56.01 million by 2030, registering a CAGR of 8.9% from 2023 to 2030. Increase in number of preterm births is the critical factor attributed to the South America human milk fortifier market expansion.

Rise in population, steady economic development, and increase in per capita income are among the major factors driving the market. The concept of human milk fortifiers is new to many people in emerging economies, and the increasing awareness among people is expected to create lucrative opportunities for the market growth. The human milk fortifier market is gaining significant traction owing to increasing awareness regarding the benefits of human milk fortifiers, such as promoting growth and bone development. Health associations in the developing countries are taking initiatives to boost overall growth and improve nutrition in preterm babies.

Thus, the rising awareness about human milk fortifiers in developing countries is expected to provide lucrative growth opportunities for the market during the forecast period.

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

Based on form, the South America human milk fortifier market is bifurcated into powder and liquid. The powder segment held 79.4% market share in 2023, amassing US$ 24.41 million. It is projected to garner US$ 45.44 million by 2030 to expand at 9.3% CAGR during 2023–2030.

Based on distribution channel, the South America human milk fortifier market is bifurcated into online and offline. The offline segment held 89.7% market share in 2023, amassing US$ 27.57 million. It is projected to garner US$ 50.18 million by 2030 to expand at 8.9% CAGR during 2023–2030.

Based on country, the South America human milk fortifier market has been categorized into Brazil, Argentina, and the Rest of South America.  Our regional analysis states that Brazil captured 71.7% share of South America human milk fortifier market in 2023. It was assessed at US$ 22.05 million in 2023 and is likely to hit US$ 41.32 million by 2030, exhibiting a CAGR of 9.4% during 2023–2030.            

Key players operating in the South America human milk fortifier market are Abbott Laboratories, Nestle SA, Raptakos, Brett & Co Ltd, Danone SA, and Reckitt Benckiser Group Plc, among others.

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