Global Pediatric Nutrition Market, by Product Type (Milk-based, Soy-based, Organic, Prebiotic/Probiotic, Amino Acid-based, and Others), by Age Group (Infant and Children), by Formulation (Powder and Liquid), by Application (Brain Development, Nutrition Source (Sole Source and Supplements), Metabolic Disorders (Maple Syrup Disease, Phenylketonuria, Insulin Resistance, and Others), Allergy Management (Cow’s Milk Protein Allergies, Lactose Intolerance, and Others)), by Distribution Channel (Online Stores and Retail Stores), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 3.73 Billion in 2022 and is expected to exhibit a CAGR of 6.4% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing demand for pediatric nutrition in Asia Pacific, high availability of a wide range of nutritional products, including products for children with special needs, and price competitiveness among leading players to gain market share are some of the major drivers for driving growth of the pediatric nutrition market. China is the major source of revenue for companies such as Nestle S.A., Mead Johnson Nutrition, and Abbott Laboratories, operating in this market. According to a new regulation, effective from January 1, 2018, factories are required to register their products with China’s Food and Drug Administration and pass safety inspections for marketing. Products not certified by the government are banned. In August 2017, regulators in China approved 89 products manufactured by 22 companies in its first announcement related to a new rule. Out of these 22, five multi-national companies are Nestle S.A., Mead Johnson Nutrition, Abbott Laboratories, Wyeth Nutrition, and Royal Friesland Campina.
Global Pediatric Nutrition Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a negative impact on the global pediatric nutrition market, owing to reduction in sale of pediatric nutrition supplements. Factors such as lockdown restrictions and other measures led to a decline in product consumption across several regions. For instance, in August 2020, according to the United Nations International Children's Emergency Fund (UNICEF), mitigation measures to curb the spread of the virus and save lives have affected livelihoods and limited income generating opportunities. The resulting income losses may cause households to adopt negative coping mechanisms, with detrimental effects on food quantity and dietary diversity. Currently, 1 in 4 (23.2%) households are living below the poverty line, and 69% of total household expenditure is allocated towards food procurement in Southeast Asian country. Covid-19 mitigation measures will adversely affect household’s income and ability to access much needed foods to meet their nutritional needs. The sale of essential medicines to cure and prevent Covid -19 was more due to ongoing pandemic situation.
Global Pediatric Nutrition Market: Key Developments
In January 2022, DANALAC, Dana Dairy, world’s leading producer, manufacturer, and supplier of dairy and milk products as well as infant nutrition items such as DANALAC baby cereals launched its new product baby teething biscuits DANALAC Baby Biscuits. The product comes in 3 different flavors specially designed and manufactured for teething infants from six months and up. With good taste and good quality nutrients and vitamins necessary for children, DANALAC is a product for local infant market. DANALAC baby teething biscuits are made to easily dissolve in baby’s mouth and are suitable for infants from six months old and up. They are made to help ease babies discomfort as they grow their first teeth.
Browse 40 Market Data Tables and 54 Figures spread through 197 Pages and in-depth TOC on “Global Pediatric Nutrition Market”- Forecast to 2030, Global Pediatric Nutrition Market, by Product Type (Milk-based, Soy-based, Organic, Prebiotic/Probiotic, Amino Acid-based, and Others), by Age Group (Infant and Children), Formulation (Powder and Liquid), by Application (Brain Development, Nutrition Source (Sole Source and Supplements), Metabolic Disorders (Maple Syrup Disease, Phenylketonuria, Insulin Resistance and Others), Allergy Management (Cow’s Milk Protein Allergies, Lactose Intolerance and Others)), by Distribution Channel (Online Stores and Retail Stores),and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the pediatric nutrition market, click the link below:
https://www.coherentmarketinsights.com/market-insight/pediatric-nutrition-market-1308
Key Takeaways of the Global Pediatric Nutrition Market:
- Global Pediatric Nutrition market is expected to exhibit a CAGR of 6.4% during the forecast period due to the increasing adoption of inorganic strategies such as merger by key players in market for developing pediatric nutrition supplements. For instance, in June 2017, Mead Johnson Nutrition Company (MJN), the U.S. based company that manufactures, infant formula both domestically and globally completed its merger with Reckitt Benckiser Group plc (RB), a multinational consumer goods company. Mead Johnson is now a division of RB, adding its globally-recognized brands, including Enfa™ and Nutramigen, to RB’s consumer health portfolio.
- Among age group, infant segment is estimated to hold a dominant position in the global pediatric nutrition market over the forecast period, owing to increased research and development on infant’s nutrition food supplement. For instance, in January 2021, Healthy snack co Timios, a private manufacturing unit that manufactures age appropriate and healthy snacks for children entered baby food market and launched new ‘Made to Order’ Porridge range for infants and This new product is designed keeping in mind the nutritional requirements of infants between ages of 6 to 18 months, and is available in 12 variants.
- Among regions, North America is estimated to account for the largest market share in the global pediatric nutrition market over the forecast period, owing to increasing launch of pediatric nutrition products in the North- America region. For instance, on April 5 2022, Nutritional Growth Solutions Ltd., a global provider of scientifically formulated and clinically studied pediatric nutritional products, launched a Healthy Heights KidzProtein product range to support everyday health in children. The KidzProtein range will include both dairy and vegan formulas to support the nutritional needs of the 2 in 10 children with intolerance to dairy-based products in the U.S. according to National Center for Biotechnology Information.
- Major players operating in the global pediatric nutrition market include Reckitt Benckiser Group Plc, Nestlé S.A., Abbott Laboratories, Groupe Danone, Royal FrieslandCampina, Baxter International Inc., Fresenius Kabi, and B. Braun Melsungen AG
