Pediatric nutrition products such as milk powders, cooking oils, bottled water, nutritional supplements and baby foods are specifically formulated to cater to the nutritional needs of children. These products provide essential nutrients such as proteins, vitamins, minerals and other micronutrients that help drive their overall physical and mental development.
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 3.2% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing focus of parents and guardians towards ensuring their children remain healthy through balanced diet and nutrition intake has accelerated the demand for specialized pediatric nutrition products. Product innovations catering to specific needs such as immunity-boosting, brain development, bone health etc. have found wide acceptance. Leading manufacturers are investing heavily in research and development to come up with innovative formulations while also adopting sustainable packaging materials to appeal to the increasingly health and environment conscious consumers. Such initiatives are expected to drive the ongoing positive growth trends in the pediatric nutrition market.
Segment Analysis
The global pediatric nutrition market is dominated by the infant formula segment. Infant formula constitutes over 50% of the global pediatric nutrition market as it is widely used for infants below 12 months of age who are not breastfed. It provides balanced nutrition to support growth and development in infants. The rising number of working mothers and increasing awareness about the importance of proper child nutrition has been fueling the demand for infant formula globally.
Key Takeaways
The Global Pediatric Nutrition Market Size 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 Mn in 2023 and is expected to exhibit a CAGR of 3.2% over the forecast period 2023 to 2030.
North America currently dominates the market and is expected to continue its dominance in the coming years. The rising disposable income coupled with increasing awareness regarding pediatric nutrition and new product launches catering to the specific nutritional needs of children at different ages has been propelling the market growth in the region.
Regional analysis
Europe is expected to exhibit the fastest growth during the forecast period. The growth can be attributed to the growing population of working women leading to increased demand for packaged pediatric nutritional products in countries like the UK, Germany, France, and Italy. In addition, the rising prevalence of childhood obesity and malnutrition is compelling parents to opt for nutritional supplements and pediatric drinks for a balanced diet.
Key players
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. Smurfit Kappa is one of the leading packaging companies offering a wide range of innovative and sustainable packaging solutions for liquid packaging in Europe and North America. Amcor plc provides packaging solutions for pediatric nutrition in the form of bottles, pouches, and cartons globally.
Get more insights on this topic :
Get more insights on this topic :
