Abstract: For the infant milk powder market,the birth rate of newborns directly affects the demand and development of the industry. After the implementation of two-child policy in 2016, the number of births reached a peak. However,since 2017,the number of births in China has been declining year by year,reaching only 10.62 million in 2021,a record low in recent years. In 2021,three-child policy was implemented,which was expected to bring new opportunities for the infant milk powder market. But for now,the intense competition and the Covid -19 have brought big challenges to the brands in this industry. From the industry trend analysis tracked by Maternal and baby industry insights,we can see that many top brands are expanding their product lines and investing in segmented categories, such as goat milk powder,organic milk powder and A2 milk powder. This paper analyzed the status quo and main products of these segmented categories and shared the outlook for the future.

Key words: infant milk powder, segmented categories, analysis