The global enteral feeding formulas market has been gaining significant traction over the past few years owing to the rising prevalence of chronic diseases. Enteral feeding formulas such as standard formulas, disease-specific formulas and fiber-enriched formulas play a vital role in providing critical nutrition to patients suffering from chronic diseases and recovering from surgical procedures. These formulas find wide applications in managing conditions like diabetes, cancer, GI disorders, neurological disorders and trauma among others. The overall product portfolio in the market includes the standard formulas that offer balanced nutrition and disease-specific formulas that are specially formulated for certain clinical conditions. Common types of disease-specific formulas include diabetes formula, renal formula, pulmonary formula and fiber-containing formula.
The Global Enteral Feeding Formulas Market is estimated to be valued at US$ 5.79 BN in 2024 and is expected to exhibit a CAGR of 9.5% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Global Enteral Feeding Formulas are Abbott, Danone S.A., Fresenius Kabi AG, Nestle, Meiji Holdings, and Mead Johnson & Company, LLC. Abbott and Nestle collectively account for over 50% of the global market share.
The growing prevalence of chronic diseases across the globe is fueling the demand for enteral feeding formulas. According to estimates, approximately one-third of the global population suffers from some form of chronic disease. Factors such as the rising geriatric population, growing adoption of sedentary lifestyles and changing dietary patterns are contributing to the increasing burden of chronic diseases.
Manufacturers are focusing on expanding their geographic footprints in emerging economies to tap the potential opportunities in these untapped markets. Factors such as the improving healthcare infrastructure and rising healthcare expenditure in developing Asian and Latin American countries are attracting major players to invest in high growth potential regions.
Market Drivers
The increasing healthcare spending across developed as well as developing nations is a key driver supplementing the growth of the Global Enteral Feeding Formulas Market Demand. According to estimates, global healthcare spending reached US$ 8.9 trillion in 2019 and is anticipated to witness an annual average growth rate of 5.4% till 2028. Rising expenditure on healthcare has improved access to specialized nutrition products and dietary supplements.
The presence of favorable reimbursement policies for enteral nutrition is another major driver driving the demand for enteral feeding formulas. Government bodies in many countries provide partial or full reimbursement for specialized enteral formula products prescribed for the clinical dietary management of various acute and chronic diseases. This has made such formulas more affordable for consumers.
Impact of geopolitical situation on the growth of Global Enteral Feeding Formulas Market
The Global Enteral Feeding Formulas Market is facing significant challenges due to the ongoing geopolitical conflicts and tensions across various regions. The Russia-Ukraine war has disrupted global supply chains and logistic operations. Both Russia and Ukraine are major suppliers of raw materials like wheat and corn used in enteral formulas. The restrictions on Russian imports have led to a substantial rise in commodity prices globally. This is negatively impacting the profit margins of enteral formula manufacturers.
The market is also witnessing uncertainties due to changing political scenarios and policies around the world. Many countries have put export restrictions to ensure domestic demand is met first. This is limiting the international trade of enteral products between nations. There is a growing need for enteral formula companies to diversify their sourcing networks and establish flexible supply chains that can adapt quickly to geopolitical events. Localizing production in different regions will help minimize risks from future trade disruptions or sanctions.
Geographical regions with concentrated market value
The Global Enteral Feeding Formulas Market is predominantly concentrated in developed regions like North America and Europe. This is primarily due to the advanced healthcare infrastructure and higher adoption of clinical nutrition practices in these parts of the world. As per estimates, the North American region accounted for over 40% of the total enteral formula sales value in 2024 due to the large target patient base and growing prevalence of chronic diseases in the US and Canada. Likewise, countries in Western Europe such as Germany, France, and the UK formed another major revenue contributor collectively.
Fastest growing region for the market
The Asia Pacific region is expected to witness the fastest growth in the Global Enteral Feeding Formulas Market during the forecast period between 2024 to 2031. This can be attributed to rising healthcare spending, increasing medical tourism, growing per capita incomes, and expansions by leading market players in emerging APAC economies. China and India specifically are projected to be the new hotspots due to the massive patient pools and improving access to enteral nutrition therapies. The rising incidences of premature births as well as metabolic and gastrointestinal disorders will further drive the need for effective clinical nutrition support across Asia in 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
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
About Author – Ravina Pandya
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile