Fact.MR’s report offers compelling insights into the elemental formula market over the forecast period of 2018-2028. As per the report, the sales of the elemental formula are lily to proliferate at a volume CAGR of over 8% during the forecast period.
Elemental formula sales will continue to be influenced by the ever-evolving demand for high-quality and cost-effective infant formulas. Alongside rising awareness of the interplay between nutrients and physiological well-being, the global demand for elemental formula is estimated to surpass 8,400 tons in 2019, up from 7,881 tons in 2018. Fact.MR’s new research study profiles the evolving landscape of the elemental formula market, bringing key insights to the fore.
As per the report, demand of elemental formula, otherwise known as amino acid based formula, is witnessing a quantum leap in line with the undeniable importance of protein as a chief macronutrient in infant nutrition.
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“Sales of elemental formula will witness sheer proliferation in line with multipronged broad factors, including need for effective supplements ensuring optimal infant health. Use of elemental formula as a vital part of dietary management of food allergies is one among the key touchpoints influencing sales growth”, says Fact.MR report
According to the study, use of elemental formula for infant nutritional management of Cow’s Milk Protein Allergy (CMPA) is gaining attention, both across developed and developing economies. The effectiveness of elemental formula for CMPA instances is being further backed by favorable recommendations from renowned organizations, such as American Academy of Pediatrics (AAP) and European Society of Pediatric Gastroenterology, Hepatology, and Nutrition (ESPGHAN). Elemental formulas are being widely-embraced for infants and children suffering from severe malabsorption, making it a force to reckon with in the infant nutrition space.
The report states that end-user preference for conventional elemental formula remains significant high, with global demand anticipated to surpass 7, 800 tons in 2019. Easy availability at economical prices is one among the chief factors fuelling investments in conventional elemental formula. Sales of organic elemental formula is also estimated to witness a healthy growth in 2019, attributed to growing end-user confidence on organic infant formulations, driven by a pervasive belief of ‘organic’ being synonymous with ‘healthy’.
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Elemental Formula in Powder Form to Outsell Liquid Variants
Elemental formula in powder form is likely to outsell the liquid variants, with global sales estimated to exceed 7,400 tons in 2019. This buoyancy of elemental formula in powder form can be attributed to its low price, which favors the prudent shopping behavior of end-users. End-users are more likely to purchase elemental formula from drug and pharmacy stores, wherein they find immense scope to buy authenticated and prescribed products at reasonable prices. Supermarkets/hypermarkets are also likely to steer sales of elemental formula, as end-users get to choose from a wide-range of products found on the store shelves at favorable deals.
With ever-evolving concerns for health and wellness, use of probiotics has gained centerstage in the elemental formula market. As probiotics facilitate generation of beneficial microbes essential for gut functioning, they are being increasingly sought-after as a vital ingredient in infant formula, including elemental formula or AA based formula. This, in turn, is creating sustained opportunities for manufacturers in the elemental formula market to roll out new products enriched with probiotics to reap sizeable benefits.
With multiple number of elemental formula brands offering products with claims of assorted health-oriented benefits, end-users are relying on a judgment that is based on both quality and price. In line with the aforementioned, manufacturers in the elemental formula market are realigning their strategies to offer best-quality products at competitive prices in order to boost end-user confidence and repeat sales.
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Addition Questions Answered
Apart from the aforementioned information, the report also answers additional questions pertaining to elemental formula market, including but not limited to,
- What will be the elemental formula market size in 2024?
- Which are top five players in elemental formula market, and what will be their y-o-y growth during the study period?
- Which formula type of elemental formula market holds maximum gains for market players?
- Which country will create most lucrative opportunities for elemental formula market players during the forecast period?
- Which end product form type is witnessing monopoly in elemental formula market, and what will be its market size in 2022?
- What will be y-o-y growth rate of elemental formula market in North America in next three years?
Key Players
Mead Johnson & Company, LLC
Danone
Ausnutria Dairy Corporation Ltd
Abbott Laboratories
Beingmate
Yili and Biostime
Royal FrieslandCampina
Fonterra
Sodiaal
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