Breast Milk Storage Products Market 2030: What Will Be Changes In Investment Ratio With Opportunity Analysis??

Posted by Mrudula Anil Karmarkar on January 24th, 2023

The global breast milk storage products market size is expected to reach USD 834.06 million by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.28% from 2022 to 2030. The expansion of the market for breast milk storage products can be attributed to growing public knowledge of the advantages of breast milk. Various governments around the world urge moms to breastfeed their children until they are 6 months old. A number of industry participants, including Medela LLC, Laura & Co., and Ameda, and universities, such as Washington University and Fudan University, are educating women about breastfeeding and its advantages by organizing workshops and offering educational periodicals. This is, in turn, impelling the market growth.

Globally expanding milk banks are predicted to significantly increase the demand for breast milk storage products including bottles and bags. For instance, Germany has roughly 18 breastmilk banks that can aid premature children by giving them donor milk. In order to assist clinical institutions in Germany, Austria, and Switzerland with the establishment and management of human milk banks on a national scale, the European Foundation for Care of Newborn Infants (EFCNI) has also launched an international project. This is expected to increase the milk donation, thereby impelling the need for breast milk storage products.

Furthermore, it is anticipated that increasing awareness and a number of government measures to normalize the use of breast milk will benefit the market growth. For instance, a congresswoman introduced a bipartisan bill in August 2022 to safeguard parents who are traveling with breast milk. The Transportation Security Administration (TSA) is now required to clarify and regulate updates on handling breast milk and infant formula. This law will make it possible for parents to transport breast milk as well as other infant formula while feeling safe and at ease. This could result in driving the demand for breast milk bottles and bags.

A major aspect driving the market is an increase in the number of working women. This is because maternity breaks are short and new mothers return to work soon after giving birth. As a result, these women are unable to provide adequate time for their children. They do not, however, wish to compromise on the nutrition provided to them. As a result, they prefer to pump breast milk with breast pumps and store it in storage bags or bottles. This milk can be fed to the infant by any member of the family, thereby increasing the sales of breast milk storage products.

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Furthermore, as per the International Labour Office (ILO), there has been visual progress in terms of employment opportunities and gender equality over the past 20 years. The ILO initiated the 2030 UN agenda that aims to empower all women and girls to achieve productive employment and gender equality. Similarly, according to World Employment, women's labor force participation rates at the global level were around 48.5% in 2018, which was 26.5% lower than men's employment rates. Women have a 0.8% higher global unemployment rate than men. As a result of the foregoing factors, the market for breast milk storage products is expected to expand during the forecast period. 

Breast Milk Storage Products Market Report Highlights

• By product, the bottles segment dominated the market in 2021 with a revenue share of over 55.0%. The bags segment is projected to witness considerable growth over the forecast period
• By sales channel, hospital pharmacy dominated the market with a share of over 35.0% in 2021
• The e-commerce segment is projected to expand at a lucrative CAGR of 9.22% during the forecast period owing to the availability of various options and less price on e-commerce platform
• Asia Pacific dominated the market with a revenue share of over 40.0% in 2021 due to the availability of a large target population and the growing population in this region

Moreover, the number of newborns or infants is rapidly increasing over the world, particularly in Asia and Africa. By 2050, the African and Asian continents will contain 15 of the top 20 most populous nations. According to UN estimates, around 250 babies are born every minute and over 130 million are born each year. This will increase the demand for milk storage bags and bottles all around the world, specifically, in Asian countries such as China, India, Australia, and Japan.

The growing need for safe, long-term storage of breast milk is predicted to increase the use of breast milk products such as bottles and bags. There are various advantages associated with using breast milk storage products that are crucial aspects for consumers, as follows:

Breast milk bags:

• Pre-sterilized and ready to use.
• Customizable bag design and volume
• Self-standing
• Leak proof and durable with double zip lock seal
• Easy store and easy pour
• Freezer and microwave safe
• 100% BPA, Phthalate & PVC Free

Breast milk bottles:

• The breast milk can be stored and pumped directly into infant bottles and the same bottle can be used to feed infants as well
• They are perfect for storing breast milk safely in the refrigerator or freezer because they are composed of a safe plastic that is intended to keep the breast milk's therapeutic properties
• It includes screw-on lids to prevent leaks while they are carried or stored in the refrigerator or freezer, or when traveling.

Thus, due to the aforementioned advantages offered by breast milk storage products, their demand is high among women, thereby fueling industry growth.

List of Key Players of Breast Milk Storage Products Market

• Medela
• Magneto, Inc. (Ameda)
• Ardo medical AG
• Koninklijke Philips N.V.
• Pigeon Corporation