The global pediatric Nutrition Market Growth Accelerated by Rising Awareness of Health Benefits of Pediatric Nutrition
Pediatric Nutrition products such as pediatric protein drinks, pediatric vitamins and minerals, pediatric milk-based formula, and pediatric amino acid-based formula are specially formulated for children. These nutritional products help in meeting the nutritional requirements of children as per their age and support healthy growth and development.
The global pediatric Nutrition Market is estimated to be valued at US$ 14.22 Bn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing awareness regarding the health benefits of nutrition-rich diets in pediatric population has been a key growth driver for the pediatric nutrition market. Parents are increasingly focusing on the nutrient composition of foods and beverages consumed by children to ensure optimal growth and development. The market players have been leveraging this trend through extensive marketing campaigns highlighting the importance of specialized pediatric nutrition products in meeting the changing nutritional needs during different stages of child development. They have also focused on innovation by introducing novel formulations of products tailored to address specific health conditions and deficiencies commonly observed in pediatric demographic. This has provided an impetus to sales volume growth for the market over the recent years.
Segment Analysis
The global pediatric nutrition market is segmented by type into milk-based, soy-based, organic, and others. The milk-based segment currently dominates the market, holding around 60% share. This is because majority of pediatric formulations are based on cow milk or formulations derived from cow milk such as whey protein, casein etc. Milk provides essential nutrients required for growth and development of infants and young children.
Key Takeaways
The Global Pediatric Nutrition Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global pediatric Nutrition Market is estimated to be valued at US$ 14.22 Bn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030.
Regional analysis:
North America currently dominates the pediatric nutrition market accounting for over 35% share of global market. This is due to high awareness regarding pediatric nutrition, growing working woman population and established healthcare infrastructure in the region. Asia Pacific is expected to witness the fastest growth during the forecast period. This is attributed to improving economic conditions, rising healthcare spending, increasing awareness about pediatric nutrition and expansion strategies by key players in emerging countries of Asia Pacific region. The market is also expected to grow at a steady pace in Latin America and Middle East & Africa regions.
Key players:
Key players operating in the pediatric nutrition market are Depuy Synthes (Johnson & Johnson), Zimmer Biomet Holdings, Inc., MicroPort Scientific Corporation, Conformis Inc., Corin Group, Exactech Inc., DJO LLC. (Colfax Corporation), Medacta International, Smith & Nephew plc, Stryker Corporation, Baumer SA, SurgTech Inc., and Meril Life Sciences Pvt. Ltd.
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