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.
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Market Growth Drivers:
Several factors are driving the growth of the elemental formula market:
- Rising Incidence of Digestive Disorders: The prevalence of conditions like IBD, EoE, and food allergies is increasing, leading to greater demand for specialized nutritional solutions.
- Improved Diagnosis: Advances in medical diagnosis and awareness of digestive disorders have led to more individuals receiving appropriate treatment and nutritional support.
- Nutritional Therapy: Elemental formulas are recognized as a vital component of nutritional therapy in managing gastrointestinal and allergic conditions.
- Consumer Awareness: Increasing awareness of food allergies and the importance of specialized nutrition has driven consumer interest in elemental formulas.
Trends and Innovations:
The elemental formula market is marked by several notable trends and innovations:
- Clean Label Formulas: Consumers are seeking clean label products with minimal additives and preservatives, driving manufacturers to produce cleaner formulations.
- Plant-Based Options: Some manufacturers are exploring plant-based sources of protein and nutrients for elemental formulas to meet the demand for plant-based nutrition.
- Personalized Nutrition: Advancements in nutrition science are enabling personalized elemental formulas tailored to the unique needs of individuals.
- Ready-to-Drink Formats: Convenience is a key trend, with the development of ready-to-drink elemental formulas for easy consumption.
- Research and Development: Ongoing research is focused on improving the taste, texture, and overall palatability of elemental formulas.
Competitive landscape:
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.
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.
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Research Methodology:
Key insights provided on elemental formula market are fully based on dynamic research methodology deployed to create the elemental formula market report. The report on elemental formula is made of comprehensive primary and secondary researches to obtain significant information related to aspects of the elemental formula market.
Analysts have performed an in-depth research to attain the numbers mentioned in the report, such as, CAGR, y-o-y growth and revenue share of all the market segments.
The unique research followed by Fact.MR offers authenticity of every minute detail published in the report. The actionable insights related to elemental formula market are presented in easy to understand way to help clients in make well-informed decisions for future growth of their businesses in the elemental formula market.
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