by The Pediatric nutrition market consists of various nutritional supplements, baby food products, infant formulas, and other nutritional products that are specially designed and formulated to meet the nutritional needs of babies and children. The market caters to various nutritional needs at different stages like infancy, toddler, preschoolers, and older children. Infant formulas comprise complete balanced nutrition that contains proteins, fats, vitamins, and minerals essential for healthy growth and development of infants. Baby food products include cereals, purees, snacks, and soups that provide nutrition to babies transitioning from liquid to solid food. Nutritional supplements provide extra nutrients in addition to regular diet to fulfill nutritional gaps in children. With the growing awareness regarding proper nutrition, health, and development of babies and children, consumers are increasingly adopting 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 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising awareness regarding healthy nutrition for babies and children is expected to drive the growth of the pediatric nutrition market over the forecast period. Many pediatric nutritional products are specially formulated by pediatric nutritionists and dieticians to provide balanced nutrition as per the evolving needs of children at different growth stages. This increases the adoption of such nutritional products among parents to ensure proper growth and development of children.
Another factor fueling the market growth includes rising working women population. Working mothers are increasingly relying on nutrition-rich baby food products and infant formulas to fulfill the nutritional needs of babies in their absence. This growing trend of working women outsourcing baby feeding responsibilities is propelling the demand for pediatric nutritional products globally. Furthermore, introduction of new and innovative products catering to niche nutritional requirements of children with various health conditions also supports the market growth.
Segment Analysis
The pediatric nutrition market can be segmented based on type into milk-based, soy-based, organic, probiotic/prebiotic, protein-rich, and fiber-rich. Among these, milk-based pediatric nutrition products dominate the market and are expected to continue their dominance over the forecast period. This is because milk is the easiest form of nutrition for babies/toddlers to digest and meets all their basic nutritional requirements.
PEST Analysis
Political: The pediatric nutrition market is governed by strict regulations set by food and drug authorities such as the FDA to ensure the safety and efficacy of products used for infants and children. These regulations impact R&D and approvals of new products.
Economic: Rising disposable incomes and growing awareness about pediatric nutrition are driving the market growth. However, availability of low-cost substitutes can hamper the demand.
Social: Increasing women workforce and busy lifestyles are fueling the demand for packaged pediatric nutrition products. Social media influence has raised awareness about importance of proper nutrition during childhood.
Technological: Players are focusing on enhancing shelf-life and stability of products using advanced processing and packaging techniques. Development of hypoallergenic and organic varieties tailored for specific age groups is also gaining traction.
Key Takeaways
The Global Pediatric Nutrition Market Size 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 global pediatric nutrition market is expected to witness high growth over the forecast period. North America held the largest market share in 2020 and is expected to maintain its dominance over the forecast period. This can be attributed to high per capita healthcare expenditure and presence of major players in the region. The Asia Pacific region is expected to witness the fastest growth during the forecast period. This can be attributed to rising disposable incomes, growing awareness, and improving healthcare infrastructure in emerging economies such as China and India. Increasing nuclear families and women workforce participation are also propelling the demand for pediatric nutrition products in the region.
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. These players are focusing on expanding their product portfolios through mergers, acquisitions, and new product launches 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
