Infant formula segment is the largest segment driving the growth of Pediatric Nutrition Market
The global Pediatric Nutrition Market is estimated to be valued at US$ 14.22 Mn or Mn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Pediatric nutrition helps support children's growth and development needs. Products include infant formula, follow-on formula, toddler formula, baby food and snacks for children. They contain balanced nutrients required for growth and development during early childhood.
Market key trends:
One of the key trends in the pediatric nutrition market is the rising demand for nutrient-enriched and organic pediatric nutrition products. Parents are increasingly conscious about the ingredients and sources of nutrients used in pediatric nutrition products. The demand for organic and clean label products formulated with organic and natural ingredients has increased considerably. Manufacturers are focusing on developing organic, non-GMO and allergen-free pediatric nutrition products to cater to this demand. This trend is expected to continue and drive the market growth during the forecast period.
SWOT Analysis
Strengths: Growing health consciousness among parents. Rising awareness about benefits of balanced diet in child development.
Weaknesses: High costs associated with R&D of specialized pediatric nutrition products. Stringent regulatory frameworks.
Opportunities: Untapped growth potential in developing countries. Launch of products tailored to regional tastes.
Threats: Intense competition. Imitation of popular brands by local players.
Key Takeaways
Global Pediatric Nutrition Market Size is expected to reach US$ 14.22 Bn by 2023, exhibiting a CAGR of 6.4% during the forecast period due to the increasing focus on early child development.
Regional analysis: North America dominated the market with over 30% market share in 2023 owing to a well-established healthcare system and high healthcare spending. Asia Pacific is anticipated to witness the fastest growth over the next 7 years driven by rising income levels and growing pediatric population in China and India.
Key players: Key players operating in the Pediatric Nutrition market are Reckitt Benckiser Group Plc, Nestlé S.A., Abbott Laboratories, Groupe Danone, Royal FrieslandCampina, Baxter International Inc., Fresenius Kabi, and B. Braun Melsungen AG. The market is highly competitive with these top players accounting for over 50% of the global share.
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian