Pediatric nutrition products encompass infant formula, baby food, and other nutritional supplements targeted at children aged 0-3 years. These products aim to fulfill the nutritional requirements of children during their growth and developmental phases. Infant formula dominated the market in 2022 and is still growing owing to high adoption. Leading companies offer a wide variety of cereals, snacks, beverages, and pouches tailored to different age groups to bridge the gap between breast milk and adult food.
The global pediatric nutrition market is estimated to be valued at US$ 14.22 billion 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 Dynamics:
Rise of online retail: E-commerce channels have witnessed a significant surge in the sales of pediatric nutrition products over the past few years. Large online retailers such as Amazon offer a diverse portfolio of pediatric nutrition brands on their platforms along with attractive deals and discounts. This has enabled customers to conveniently procure products from the comfort of their homes. Quick deliveries further supplement the growing preference for online shopping. Population growth will also drive the pediatric nutrition market as well.
Another driver for the pediatric nutrition market includes an increase in birth rates globally. According to UNICEF, India and China account for over one-third of the total birth worldwide. Higher birth rates translate to an increased number of infants and toddlers requiring pediatric nutrition products. Considering the projected population growth trends over the coming decade, demand for these products is likely to rise significantly from emerging Asian and African countries.
Segment Analysis
The pediatric nutrition market can be segmented into infant formula, baby food, and other pediatric nutrition products. The infant formula segment dominates the market and accounts for around 50% of the market share. This is because infant formula is the primary source of nutrition for babies less than 6 months of age as breastfeeding is not always possible. The American Academy of Pediatrics also recommends infant formula as a suitable breast milk substitute for babies.
PEST Analysis
Political: The pediatric nutrition market is affected by regulations imposed by governments and regulatory bodies on the safety, formulation, nutritional content of baby foods and infant formula. Changes in policies also impact the demand.
Economic: Factors like rising disposable incomes, awareness about baby nutrition, population growth are fueling the demand for pediatric nutrition products. However, inflationary pressures affect the pricing and demand of products.
Social: Changing lifestyles, rise in number of working mothers, awareness about proper baby nutrition are key social drivers for the market. Customers are also influenced by social media, popularity of brands etc.
Technological: Key players are focusing on R&D to develop innovative formulations, delivery formats such as ready to drink, liquids, pouches etc that are more nutritious and convenient for babies and toddlers. Blockchain is being explored to ensure supply chain transparency.
Key Takeaways
The Global Pediatric Nutrition Market Growth is expected to witness high growth over the forecast period of 2023 to 2030. The global pediatric nutrition market is estimated to be valued at US$ 14.22 billion in 2023 and is expected to exhibit a CAGR of 3.2% over the forecast period 2023 to 2030.
Regional analysis reveals Asia Pacific as the fastest growing region in the pediatric nutrition market due to high birth rates, rising disposable incomes in countries like China and India.
Key players operating in the pediatric nutrition market are Smurfit Kappa, Optopack Ltd., Amcor plc, Montibox, Aran Packaging, Liquibox, Peak Liquid Packaging, DS Smith, Graficas Digraf Sl, and Goglio SpA. Key players are focussing on expanding their product portfolios through new launches, acquiring regional players to gain market share.
Smurfit Kappa has been a leading provider of paper-based packaging solutions to the pediatric nutrition segment. Its EcoPlus range of packaging made from renewable, recyclable and biodegradable materials has been popular. Optopack Ltd. offers innovative bottle and pouch solutions specifically designed for pediatric nutrition products focusing on convenience, nutrition, and sustainability. Amcor plc leads the flexible packaging segment with effective sterile barrier packaging solutions for liquid pediatric nutrition products like infant formula.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
