Pediatric nutrition are nutritional products such as infant formula, baby food, and dietary supplements specifically tailored for children under 12 years of age. These products are designed to provide balanced nutrition to support children’s growth and development. The products play a vital role in tackling malnutrition among children in developing nations. Malnutrition is one of the leading causes of mortality among children under the age of 5 years worldwide. More than 150 million children under 5 years are stunted due to chronic undernutrition. This has led to rising investments by both private organizations and government bodies in pediatric nutrition programs in developing countries.
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:
One of the key trends witnessed in the pediatric nutrition market is the increasing demand for plant-based and organic variants. This is attributed to growing health concerns pertaining to chemicals, artificial ingredients, and allergens in conventional products. Moreover, parents are increasingly choosing products with simple and clean ingredients. Hence, companies are innovating and incorporating more plant-based and organic ingredients such as fruits and veggies in their products. For instance, in 2020, Danone launched plant-based toddler milk variations of its popular Aptamil brand in France and other European markets. Similarly, other key players such as Nestle and Abbott are expanding their portfolio of organic and clean label nutrition products. This emphasis on natural and organic products is expected to vastly influence the market during the forecast period.
Porter’s Analysis
Threat of new entrants: The pediatric nutrition market has moderate threat from new entrants due to high R&D costs and established brands.
Bargaining power of buyers: Buyers have low bargaining power due to specialized nature of products and availability of few alternatives.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and differentiated products.
Threat of new substitutes: Threat of substitutes is low as pediatric nutrition products have specialized formulations.
Competitive rivalry: The market has high competitive rivalry due to presence of key global players.
Key Takeaways
The Global Pediatric Nutrition Market Size is expected to witness high growth. 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.
Regional analysis comprises North America dominates the global market and is expected to continue its dominance over the forecast period. Factors such as technological advancements, growing healthcare expenditure, and rising number of preterm births drive the market 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. Key players focus on new product launches and expansion strategies to gain competitive advantage.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it