Why is formula milk so expensive

Why is formula milk so expensive? I mean there are just 2 or 3 brands that are cheaper like dulac and Grow. The rest are in 50s and 60s dollars range. Is it true that the more expensive ones are better? Or is this just another consumerism or customers are just paying unnecessary cost factors for the company like their campaigns, marketing etc.

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Not necessary. I think they taste differently cause my toddler had milk rejection when she was younger. It was till when we changed an expensive milk (Illuma by Wyeth Nutrition) then she finally accepted it and drank. She tried Dulac, Nan, Bellamys Organic, Friso and Similac.