To promote the healthy and stable development of infant dairy industry, this work starts from the background of family planning policy adjustment. Based on the Internet of Things (IoT), fertility policy, and other related theories, this work analyzes the population size changes and fertility willingness of Chinese women of childbearing age between 20 and 39 years old from 1980 to 2020. Additionally, this work discusses the current development of infant dairy industry and the willingness of residents in the first, second, third, and fourth tier cities to purchase domestic or imported milk powder. Finally, the IoT technology is introduced into the farm and infant dairy processing links for analysis. The results show that the population of women of childbearing age in China is shrinking year by year, and the willingness to bear children is also declining. From 2016 to 2021, the number of women of childbearing age will decrease by an average of 2.85 million every year. Women in rural areas are more willing to give birth than those in urban areas. Compared with Vietnam and India, China has the lowest population growth rate, followed by Vietnam and India. At present, the development of domestic infant dairy products is facing many setbacks due to the reduction of the birth population, the impact of foreign brands, and the “melamine” incident. Fortunately, due to the strict supervision of the market by the government, a certain proportion of the market has been gradually achieved in recent years. However, residents of the first, second, third, and fourth tier cities are still more willing to buy foreign milk powder. Introducing the IoT technology into the development of infant dairy industry can monitor the content of relevant additives and record the production information through radio frequency identification technology, which improves the quality of dairy products to a certain extent. Therefore, the research on the management of infant dairy industry integrated with the IoT under the background of family planning policy adjustment will have a certain beneficial impact on the subsequent development of the industry.