Pediatric nutrition products such as milk formulas, baby foods, and baby drinks are formulated to fulfill the nutritional needs of infants and toddlers. Pediatric nutrition products are rich in nutrients such as proteins, carbohydrates, fat, vitamins, and minerals essential for the growth and development of children. These products help meet the calorie and nutrient requirements of children.
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 Opportunity: Preventing child malnutrition presents a key market opportunity. Malnutrition among children continues to be a major public health concern globally. The first two years are crucial for child development and growth. Improper nutrition during this period can negatively impact a child's physical and cognitive development. Pediatric nutrition products play an important role in addressing the issue of malnutrition among children by supplying them with nutrients essential for their growth and overall development. The opportunity to leverage pediatric nutrition products for preventing child malnutrition and improving public health can drive the growth of this market over the forecast period. Porter's Analysis Threat of new entrants: The pediatric nutrition market requires large investments in R&D and manufacturing facilities to produce formulas tailored for infants and children. Established brands have strong brand recognition and customer loyalty which creates barriers for new entrants. Bargaining power of buyers: Buyers have moderate bargaining power in the form of availability of substitutes and brands. However, medical necessity of nutrition during childhood limits switching. Bargaining power of suppliers: Major ingredient suppliers like dairy producers do not have significant influence due to availability of alternatives and visibility into demand. Threat of new substitutes: Threat from substitute products is moderate as breastfeeding and baby food offer alternatives but lack certain crucial nutrients fulfilled by specialized formulas. Competitive rivalry: The market is dominated by large players and witnessing rivalry on the basis of product differentiation, innovation, quality, and customer service. SWOT Analysis Strengths: Strong brand recognition for leading brands. Dedicated R&D teams ensures products meet evolving nutritional needs. Weaknesses: High production costs. Vulnerable to negative publicity over quality issues. Opportunities: Untapped growth potential in developing regions. Scope for expansion into therapeutic pediatric nutrition. Threats: Stringent regulations. Vulnerable to recessionary pressures on consumer spending. Key Takeaways The Global Pediatric Nutrition Market Size is expected to witness high growth. The market size for 2023 is estimated at US$ 14.22 billion and is forecast to reach US$ 20.56 billion by 2030 at a CAGR of 4.0%. Regional analysis: North America dominates the pediatric nutrition market currently owing to high healthcare spending and awareness. Asia Pacific is expected to be the fastest growing region due to rising birth rates, growing middle class and their willingness to spend on child nutrition. Key players: Key players operating in the pediatric nutrition market include Depuy Synthes, Zimmer Biomet Holdings, MicroPort Scientific Corporation, Conformis Inc., Corin Group, Exactech Inc., DJO LLC, Medacta International, Smith & Nephew plc, Stryker Corporation and Baumer SA. Major players are focused on product innovation and expansion in high growth markets through mergers and acquisitions. Get more insights on this topic: https://www.marketwebjournal.com/pediatric-nutrition-market-share/
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