by The pediatric nutrition market is estimated to be valued at US$ 14.22 Mn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Pediatric nutrition products aim to fulfill the nutritional requirements of infants and children as per their age group. These products are formulated keeping in mind the nutritional needs of toddlers, young children, and teenagers. Pediatric nutrition helps in proper growth and development of children. It provides balanced nutrients like proteins, vitamins, minerals, prebiotics, and others essential for children.
Market key trends:
The rising cases of malnutrition among children globally is the key trend fueling the growth of the pediatric nutrition market. Malnutrition among children is a persistent problem faced by many developing and underdeveloped nations. According to UNICEF, approximately 22.2% of the world’s children under 5 years of age are stunted. Stunting is a sign of chronic undernutrition and has negative long-term health, education, and economic consequences on individuals and societies. Pediatric nutrition products promote proper growth and development in malnourished children by fulfilling their daily nutrient requirements, thereby driving their adoption.
Porter’s Analysis
Threat of new entrants: The pediatric nutrition market requires high investments in R&D for new product development and innovation. This poses high entry barriers for new players.
Bargaining power of buyers: There exists a large customer base for pediatric nutrition products due to rising health awareness. However, the availability of substitutes provides buyers with bargaining power.
Bargaining power of suppliers: Key raw materials include milk, cereals, fruits and vegetables whose global supply is diversified. This lessens suppliers’ bargaining power.
Threat of new substitutes: Alternatives like home-made baby food pose limited threats due to varying nutritional requirements of pediatric populations.
Competitive rivalry: Large multinational players dominate the market, intensifying competition.
SWOT Analysis
Strength: Wide variety of products for differing pediatric nutritional needs. Established brands and trust among customers.
Weakness: High R&D costs and stringent regulatory approvals. Susceptibility to price fluctuations of raw materials.
Opportunity: Emerging markets offer scope for expansion. Growth in pediatric population and rising incomes in developing nations.
Threats: Substitute threat from homemade baby food. Sensitivity to economic slowdowns affecting discretionary spends.
Key Takeaways
Global Pediatric Nutrition Market Size is expected to witness high growth, exhibiting CAGR of 6.4% over the forecast period, due to increasing health awareness among parents. The Asia Pacific region dominates the pediatric nutrition market and is expected to grow at the fastest rate, owing to rising birth rates, growing middle-class and their purchasing power in developing countries such as India and China. Key regional markets include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Key players operating in the pediatric nutrition market are Reckitt Benckiser Group Plc, Nestlé S.A., Abbott Laboratories, Groupe Danone, Royal FrieslandCampina, Baxter International Inc., Fresenius Kabi, and B. Braun Melsungen AG. Large players are focusing on new product launches and acquisitions to strengthen their footprint. Additionally, private label brands pose competition due to their cost effectiveness.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
