Pediatric Nutrition Market to Surpass US$ 61,603.1 Million Threshold by 2025
The Global Pediatric Nutrition Market, by Product Type (Milk-based, Soy-based, Organic, Prebiotic/Probiotic, Amino Acid-based, and Others), by Age Group (Infant and Children), by Formulation (Powder and Liquid), by Application (Brain Development, Nutrition Source (Sole Source and Supplements), Metabolic Disorders (Maple Syrup Disease, Phenylketonuria, Insulin Resistance, and Others), Allergy Management (Cow’s Milk Protein Allergies, Lactose Intolerance, and Others)), by Distribution Channel (Online Stores and Retail Stores), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 35,211.6million in 2016 and is projected to exhibit a CAGR of 6.4% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Increasing demand for pediatric nutrition in Asia Pacific, high availability of a wide range of nutritional products, including products for children with special needs, and price competitiveness among leading players to gain market share are some of the major drivers for growth of the pediatric nutrition market.
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China is the major source of revenue for companies such as Nestle S.A., Mead Johnson Nutrition, and Abbott Laboratories, operating in this market. For instance, Mead Johnson Nutrition generated around 30% of its revenue in 2016, from China alone. Increasing number of small players are entering into China is also responsible for growth of the market in the country. Several rules to monitor the quality of pediatric nutrition are increasingly being implemented in China. According to a new regulation, effective from January 1, 2018, factories are required to register their products with China’s Food and Drug Administration and pass safety inspections for marketing. Products not certified by the government are banned. In August 2017, regulators in China approved 89 products manufactured by 22 companies in its first announcement related to a new rule. Out of these 22, five multi-national companies are Nestle S.A., Mead Johnson Nutrition, Abbott Laboratories, Wyeth Nutrition, and Royal Friesland Campina.
Companies in the pediatric nutrition market are increasingly focusing on inorganic growth strategies. In 2013, Nestle S.A. acquired U.S.-based Pamlab L.L.C., Covington, La., a medical nutrition company, to broaden its brain health and metabolic health portfolio. Moreover, the company has made strategic investment in companies working on similar product lines. For instance, Nestle S.A. entered into a strategic collaboration with DBV Technologies, to develop a patch-test tool for diagnosis of Cow’s Milk Protein Allergy (CMPA) for infants, in 2016. Furthermore, the company decided to reorganize its nutrition business in order to win in this high-growth category, in November 2017. Reckitt Benckiser Group plc acquired Mead Johnson Nutrition, a leading company in pediatric nutrition, in June 2017. This acquisition significantly enhances the position of Reckitt Benckiser in the consumer health segment.
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Key Takeaways of the Pediatric Nutrition Market:
The global pediatric nutrition market is expected to exhibit a CAGR of 6.4% over the forecast period (2017 – 2025), owing to growing product portfolio to serve diverse range of customers and greater adoption rate in emerging economies of Asia Pacific. Changing regulations in countries such as China is expected to favor growth of large companies. Moreover, inclination towards imported products has also helped multi-national companies to expand their market in the country. Asia Pacific is expected to retain its dominance during the forecast period (2017-2025), owing to high birth rate and increasing disposable income in the region. The market is witnessing multiple mergers and acquisitions and this trend is expected to sustain during the forecast period, as smaller players are expected to face difficulty in operating profitably while complying with changing regulation. Major players operating in the pediatric nutrition market include Reckitt Benckiser Group Plc, Nestlé S.A., Abbott Laboratories, Groupe Danone, Royal FrieslandCampina, Baxter International Inc., Fresenius Kabi, and B. Braun Melsungen AG
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