Infant formula is one of the fast moving consumer goods in the market. The factors that can affect its demand are the following:

1) Birth Rate. Higher birth rate implies that there will be more infants needing formula and as such, can increase the demand for it.

2) Breastfeeding Campaign. In recent years, the (exclusive) breastfeeding campaign has become more aggressive. Since formula serves as a substitute for breastfeeding, the campaign to breastfeed exclusively for at least six months has eroded some of its demand (potential demand).

3) Advertisement on its vitamins and minerals. Infant formula companies have resorted to emphasizing the benefits each of their respective products can offer to a growing baby. For example, some would highlight taurine for brain development, or MFGM for immunity and also development. This entices mothers to purchase infant formula.

4) The Growing Number of Working Mothers. While the exclusive breastfeeding campaign is believed to be effective, the growing number of working mothers can increase demand for infant formula. While pumping stations are often set up in office spaces, the industry offers greater convenience to working mothers.

5) Price. Price is a major factor for infant formula. It commands a high price in the market and much higher compared to its substitute, which is breastmilk (and comes for free). This alone discourages some mothers from purchasing the product.