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(OANN) – It’s not your imagination if you feel like you’re seeing more ads for baby formula than ever before. Formula makers have stepped up marketing campaigns to grab a bigger piece of the lucrative, $5.6 billion formula market, after a severe shortage earlier this year shook consumer confidence, said Allen Sayler, an industry consultant.
The months-long closure of Abbott Laboratories’ formula plant in Michigan, after complaints of bacterial infections in infants, eroded the Similac maker’s market share. Other brands had a chance to step in due to relaxed government rules, frantic parents looking for formula and retailers like Walmart seeking alternatives, Sayler said.
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“A high level of uncertainty on supply created business opportunities that did not exist before,” Sayler said, adding that formula makers are attracted to the United States because birth rates are higher than Europe, China and Japan and many U.S. moms return to work outside the home.
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