Pediatric Nutrition Market

Pediatric Nutrition Market Is Estimated To Witness High Growth Owing To Rising Prevalence Of Malnutrition In Infants & Children

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The pediatric nutrition market is estimated to be valued at US$ 14.22 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 infant formula, growing-up milk, follow-on formula, toddler milk, specialty baby food, and other complementary foods designed for children between the ages of 0 to 12 years. These products offer balanced nutrition for healthy growth and development of infants and children. The products come in different forms including powder, liquid concentrate, ready-to-drink, and others.

Market Dynamics:
The global pediatric nutrition market is likely to witness significant growth over the forecast period owing to rising prevalence of malnutrition in infants and children globally. According to the United Nations International Children’s Emergency Fund (UNICEF), around 149 million children under the age of 5 years are stunted and around 49 million children are wasted globally due to malnutrition. Pediatric nutrition products aim to bridge the nutritional gap and support healthy growth and development in children.

Additionally, growing health awareness among parents regarding proper nutrition for infants and children is also expected to boost the demand for pediatric nutrition products. Product launches catering to baby food alongside follow-on formula and growing-up milk are further projected to drive the market growth during the forecast period. However, stringent regulations regarding formulation and promotion of pediatric foods pose challenges to market players.

SWOT Analysis
Strength: The pediatric nutrition market has strong growth potential due to rising awareness about child health and nutrition. It offers tailored supplements that cater to the specific nutritional needs of children. Manufacturers provide innovative packaging solutions that make products more appealing and convenient for kids.
Weakness: High costs associated with R&D, manufacturing, and marketing of specialized pediatric nutrition products constrain widespread adoption. Lack of proper guidelines and confusion among parents also impact demand.
Opportunity: Growing middle-class populations in developing nations present a massive customer base. Advances in food science can lead to development of more effective and affordable supplements. Rising focus on preventive healthcare will augment the market size.
Threats: Stringent regulations associated with production of supplements for children can increase compliance costs. Shift towards homemade baby food threatens sales of packaged products. Intense competition exists in the market.

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 health awareness among parents and growing birth rates in emerging economies.

Market size: The pediatric nutrition market size for 2023 is US$ 14.22 Mn. North America currently dominates the market due to high consumer spending on child nutrition. However, Asia Pacific is likely to see rapid gains owing to rising disposable incomes and improving healthcare access in China and India.

Regional analysis: Asia Pacific is the fastest growing region in the pediatric nutrition market. China, India and other Southeast Asian countries are witnessing increases in birth rates and pediatric healthcare expenditures. Favorable government policies are also promoting sales of specialized supplements in the region.

Key players: 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 leaders are focusing on product innovations and partnerships to strengthen their positions in dynamic regional markets.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it