by Pediatric nutrition includes a wide range of milk formulas, baby foods, vitamins and minerals that provide balanced nutrition for infants and children. These nutritional products address the different nutritional needs at each stage of pediatric development to ensure healthy growth and development. The growing prevalence of chronic diseases such as gastrointestinal diseases and allergies in children has increased the demand for disease specific pediatric nutrition products.
The global Pediatric Nutrition Market is estimated to be valued at US$ 14.22 Mn 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:
Growing demand for disease specific nutrition has been a key trend driving growth in the pediatric nutrition market. According to several studies, chronic diseases and disorders such as gastrointestinal disorders, diabetes, obesity, allergy and food intolerances are on the rise among children worldwide which requires special formulations in pediatric nutrition products. Major players in the market have launched a variety of products tailored to address the unique nutritional needs arising due to such chronic diseases. This has stimulated growth opportunities in the global pediatric nutrition market.
SWOT Analysis
Strength: Pediatric nutrition products provide essential nutrients tailored for the growth and development needs of children. Wide range of formulations are available to meet the needs of infants, toddlers and adolescents.
Weakness: Frequent changes in children’s nutritional needs and preferences make it challenging for manufacturers to effectively anticipate demand. Product recalls due to quality issues can negatively impact brand image.
Opportunity: Rising awareness about importance of proper nutrition during childhood offers scope for market expansion in developing regions. Product innovation to target specific age groups and health conditions presents new opportunities.
Threats: Intense competition from private label brands offering similar products at lower costs. Stringent regulatory norms for new product approval and facility compliance increase operating costs.
Key Takeaways
Global Pediatric Nutrition Market Demand 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 Mn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030.
The North America region currently dominates the market owing to high healthcare expenditure and growing consumer awareness. The Asia Pacific region is expected to offer lucrative opportunities with rapid economic development and rising purchasing power in major countries like China and India. Asia Pacific holds immense growth opportunities with rising disposable incomes in countries like India and China. Expanding healthcare infrastructure and increasing acceptability of commercially available pediatric nutritional products present a conducive environment for market growth in the Asia Pacific region over the forecast period.
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. Continuous R&D efforts to develop innovative products suitable for preterm infants and children with special medical conditions are helping these companies gain market share. Regulatory approvals for pediatric-specific formulations in new geographic regions will further aid their expansion plans over the coming years.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
