by Pediatric nutrition includes various liquid and solid dietary supplements intended for infants and young children. The supplements help overcome nutritional deficiencies and support growth and development in children. They offer essential vitamins, minerals, proteins, and other nutrients. Over the past few years, the market has witnessed various product innovations with additional features like prebiotics, probiotics, and easy-to-swallow formats. The supplements are available in diverse formulas catered towards different nutritional needs of babies and toddlers across stages like infant nutrition, follow-on milk, growing-up milk, and others.
The rising prevalence of malnutrition cases among children, especially in developing regions, is the key factor driving the demand for these supplements. According to the UNICEF, over 149 million children under the age of 5 were stunted owing to malnutrition in 2020. This has increased the uptake of pediatric nutritional 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 3.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
One of the major trends in the pediatric nutrition market is the rise of organic and clean label products. With increasing health consciousness, parents are seeking natural and organic formulations free of synthetic ingredients,colors, flavors and preservatives. To tap into this demand, key players are introducing organic product ranges made from whole foods, probiotics and free from GMOs and artificial substances. Another notable trend is the surge in demand for ready-to-consume pediatric drinks. Busy lifestyles have boosted the popularity of convenient, easy-to-carry pediatric nutrition drinks among parents and caregivers. Players are focusing on portable soft pack formats, no-spill straw cups and on-the-go bottle designs. They are also offering customized flavor options to improve taste and encourage consumption among fussy young eaters.
Porter’s Analysis
Threat of new entrants: Low barrier of entry due to readily available raw materials and large supplier base. However, established brands have strong brand recognition and distribution channels which act as deterrents.
Bargaining power of buyers: Large buyers such as hospitals and retailers have significant bargaining power due to the consolidated nature of buyers. They can negotiate on price and demand high marketing spends.
Bargaining power of suppliers: The market has a large number of suppliers for raw materials such as milk powders, cereals, and vitamins. This eases supplier constraints and limits their bargaining power.
Threat of new substitutes: Products from adult nutrition, baby food and beverages segment can be substitutes. However, specialized pediatric formulas have distinct nutritional needs limiting major substitutions.
Competitive rivalry: Intense competition among large players and private label brands. Companies compete based on product diversity, innovations, quality, and marketing.
Key Takeaways
The Global Pediatric Nutrition market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2024 is projected to reach US$ 14.22 Mn registering a CAGR of 3.2% during the forecast period.
Regional analysis: North America dominates the global pediatric nutrition market currently due to high consumer awareness and healthcare expenditure. However, Asia Pacific is expected to witness the fastest growth during the forecast period owing to growing birth rates, rising incomes, and increasing focus on child health in developing nations of China and India.
Key players operating in the Pediatric Nutrition are Smurfit Kappa, Optopack Ltd., Amcor plc, Montibox, Aran Packaging, Liquibox, Peak Liquid Packaging, DS Smith, Graficas Digraf Sl, and Goglio SpA. Companies are focusing on developing innovative products, acquiring regional brands, and expanding their distribution reach through partnerships to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
