Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
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$ 35,211.6 million in 2016 and is estimated to record a CAGR of 6.4% over the forecast period (2017-2025).
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Burgeoning demand for pediatric nutrition, specifically in the Asia Pacific region, a wide availability of nutritional products, including products for children with special needs, and price competitiveness among the leading market players, are some of the most imperative factors projected to accelerate the growth of the global pediatric nutrition market.
China happens to be a major source of revenue for companies like Nestle S.A., Mead Johnson Nutrition, and Abbott Laboratories, operating in this region. For instance, Mead Johnson Nutrition generated around 30% of its revenue from China alone in 2016. Increasing number of small players penetrating into the China market boosts its growth. Several rules have been enforced in the country to monitor the quality of pediatric nutrition. Under a new regulation imposed in January 2018, factories were required to register their products with China’s Food and Drug Administration and pass safety inspections for marketing, and the products not certified by the government were banned country-wide. 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.
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The key market players are increasingly focusing on the adoption of inorganic growth strategies. For instance, in 2013, Nestle S.A. acquired Pamlab L.L.C., a medical nutrition company, in an effort to broaden its brain health and metabolic health portfolio. Additionally, the company has made strategic investment in companies working on similar product lines. In 2016, Nestle S.A. collaborated with DBV Technologies for the development of a patch-test tool for diagnosis of Cow’s Milk Protein Allergy (CMPA) for infants. Furthermore, in June 2017, Reckitt Benckiser Group plc acquired Mead Johnson Nutrition, a leading company in pediatric nutrition in order to strengthen its position in the consumer health segment.
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Key Takeaways of the Pediatric Nutrition Market:
- The global pediatric nutrition market growth gains a significnat momentum due to the 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.
- The regional market is witnessing multiple mergers and acquisitions and this trend is expected to maintain its stance throughout the forecast timeline.
- The distinguished players operating in the global 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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