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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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.
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.
Questionnaire answered in the Market outlook Report of Elemental formula include:
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?
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