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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cause maybe they follow by stage like grow stage 1 $18.30 and grow stage 3 roughly around $30+ to 40+ that was so expensive...but other brand like similac,S26 for infant was so damn expensive