Elemental Formula Market Demand Upheld by Lucrative Opportunities Experienced in the Global Market by 2028

Posted on 2019-05-08 by Mark Hub in Food & Beverage // 0 Comments

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The purpose of this rich study presented by Fact.MR is to elaborate the various market projections impacting the global elemental formula market during the period until 2028. This assessment delivers high-end statistics concerning market size (US$ Mn), Y-o-Y growth and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about growth trends along with opportunities that are expected to reshape the overall structure of the elemental formula market during the forecast period.

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The elemental formula market remains highly consolidated on the top, with leading players accounting for more than half market share. Burgeoning demand for infant nutrition food to overcome nutritional deficiencies in babies has intensified the competition among leading players in elemental formula market. To capitalize on growing demand for infant nutrition formula, industry leaders are extending their production facilities, while acquiring regional or local companies to gain a competitive edge. Further, leading market players are also introducing novel product lines as they strive to extend their customer base through frequent and innovative infant nutrition variants.

The continuous tussle to improve nutritional value, while offering safe products that comply with stringent regulations, has been helping emerging market players to attract a wider consumer base, which is persistently seeking safe nutrition formula for infants. Notable developments in the elemental formula market have been listed below.

Anticipating bullish prospects of elemental formula market, Nestlé has recently announced its decision of focus on infant nutrition product development in its Irish R&D center. The company will focus on scientific research to back innovations in the development of milk-based infant nutrition products for global market.
Infant formula manufacturers in the UK, such as the world food company, Danone, have committed to a new code of practice which is aimed at bringing a uniformity of standards around infant nutrition industry.
In 2017, Mead Johnson Nutrition, inked a deal with a pharmaceutical and nutritional products distributor in Central Eastern Europe, Ewopharma, to introduce Nutramigen PURAMINO in Slovakia and Czech Republic. Nutramigen PURAMINO is a non-allergic elemental formula claimed to be a fully alimentary solution for babies and young infants who are severely allergic to proteins found in cow’s milk.

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Key players operating in elemental formula market include Nestle S.A., Mead Johnson & Company, LLC, Danone, Ausnutria Dairy Corporation Ltd., Abbott Laboratories, Beingmate, Yili and Biostime, Royal FrieslandCampina, Fonterra, and Sodiamino acid.

Nutritional deficiency in infants coupled with infant deaths caused due to lack of vitamins are among the most widespread health concerns in end-users worldwide. According to a WHO report on infant mortality, more than 4 million infant deaths occurred in 2016. Though, this number has declined considerably in the past 15 years, main regulatory organizations across the globe are spreading awareness pertaining to infant health fundamentals among the end-users. With infant survival gaining traction as one of the most important aspects of infant health programs, governments are increasingly taking initiatives to make end-users aware of infant nutritional needs. Even the leading players in elemental formula market have been conducting consumer awareness programs targeting women specifically to make them aware of the importance of balanced diet for infants. Owing to the burgeoning awareness programs about nutritional requirements of infants being conducted by governments, global elemental formula market is likely to witness impressive growth in the forthcoming years.

Increasing incidences of hypoallergenic disorders among infants and young infants, coupled with the growing birth rates in recent past, has fuelled demand for elemental formula from end-users seeking safe nutritional supplements for their new-born babies. According to the WHO and UNICEF estimations, more than 2-3% of new-born babies and young infants across the world are suffering from hypoallergenic disorders, and are intolerant to cow milk proteins. Owing to the growing health concerns of infants allergic to cow milk nutrients, end-users are seeking effective infant formulas, such as elemental formula, which in turn is likely to underpin gains in elemental formula market. Furthermore, with several governments and health organizations worldwide taking initiatives for improving outcomes of Cow’s Milk Protein Allergy (CMPA) and hypoallergenic disorders, the adoption of elemental formulas is likely to increase even more.

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