The 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 products include milk formulas, nutritional drinks, baby
foods, and other products that aim to provide balanced nutrition to children.
Growing need for easily digestible and nutritious foods among babies and young
children is driving the demand for pediatric nutrition products. Leading
players offer a wide range of products suitable for children of different age
groups ranging from infants to toddlers and young kids. Innovation in
formulations to match nutritional requirements at different growth stages
further boost the market growth.
Market Dynamics:
Rising health awareness among parents and growing focus on offering balanced
nutrition to babies and young children since infancy are some key factors
driving the pediatric nutrition market growth. Parents are increasingly
conscious about the nutrients required for healthy growth and development of
children. This is increasing the adoption of pediatric nutrition products that
contain important macro and micronutrients. Additionally, rising women
workforce participation has fueled the demand for convenient pediatric
nutrition options such as nutritional drinks and baby meals, which can be
easily prepared or served. Moreover, increasing disposable income in developing
regions is also contributing to the market growth as parents are willing to pay
more for high-quality nutrition products for their children.
Segment
Analysis
The pediatric nutrition market is segmented into
formula, DHA/ARA infant formula, growing up/follow on formula, specialty baby
formula, milk-based formula, soy-based formula, organic formula, prepared baby
food, bottled baby food, canned baby food, frozen baby food, baby snacks and
others. Among these, the milk-based formula segment is currently dominating the
pediatric nutrition market and accounts for more than 50% share due to its
availability, cost-effectiveness and similar composition to breast milk. This
helps support baby's growth and development.
PEST Analysis
Political: The implementation of various government programs to raise awareness
regarding baby nutrition and healthcare is driving the pediatric nutrition market
growth. For instance, in the U.S., the Special Supplemental Nutrition Program
encourages breastfeeding.
Economic: Rising awareness among parents about balanced nutrition for babies
during formative years and increasing per capita income in developing nations
are fueling the market size.
Social: Changing lifestyles, working mothers, and nutritional awareness are
prompting parents to opt for packaged baby food products that are easy to
prepare.
Technological: Technological advancements in formula composition maintain
optimal nutritional levels tailored for each stage of baby development and make
products closer to breast milk.
Key Takeaways
Global
Pediatric Nutrition Market Size is expected to witness high growth,
exhibiting CAGR of 6.4% over the
forecast period, due to increasing middle-class population globally demanding
quality nutrition products for babies.
Regionally, North America currently dominates the pediatric nutrition market
owing to increasing participation of working mothers and nutritional awareness
among parents. Asia Pacific is expected to be the fastest growing market due to
rising birth rates and improving economic conditions.
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. These players focus on new product launches, strategic
collaborations and expansion in developing countries to strengthen their market
position.
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