Elemental Formula Market Prospects and Growth Assessment Presented Until the End of 2028
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.
[UKPRwire, Sun Jul 07 2019] The report on elemental formula market is an exhaustive compilation of highly valuable and actionable insights. The report offers an extensive assessment on the elemental formula market, which embodies research on noteworthy dynamics, such as key trends, insights, growth drivers, opportunities, and challenges for the elemental formula market. The report examines the size of the elemental formula market in terms of volume (Tons) and value (US$ MN).
The report gives authentic information to readers about elemental formula market meant to aid them in strategizing market approaches based on powerful insights related to elemental formula market. This further gives clients a snapshot of the present and the future growth potential of the elemental formula market. Based on the report insights and information offered on elemental formula market, readers can make right decisions to attain a pole position in elemental formula market.
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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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.
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.
Burgeoning demand for highly effective infant nutritional formulas has led elemental formula manufacturers to focus on enhancing the quality of infant nutrition food. Introduction of cutting-edge technologies and significant investment in research, leading market players are creating nutrition-rich supplements for babies to expand their foothold in elemental formula market. Manufacturers are adopting novel ingredients to attain better metabolic outcomes and lure wider consumer base. For instance, Similac® recently got recognized as the first leading infant formula brand labeled with no artificial growth hormones. Manufacturers are increasingly leveraging advanced neonatal care researches to achieve long-term developmental outputs of infant nutritional products which are likely to bring tremendous changes in elemental formula market.
According to the World Health Organization (WHO), more than 15 million babies born annually are premature. Preterm birth is considered to be one of the leading causes of infant mortality. In a bid to boost the survival rate of premature infants, key players in the elemental formula market continue to focus on effective, nutrition-rich infant food supplement offerings. These efforts of players are further backed by initiatives of governments and authoritative organizations to enhance the outcomes of preterm births. For instance, Johnson & Johnson joined hands with Plan International Canada, the government of Canada, non-profit organizations World Vision and Save the Children to create a novel initiative Born On Time. Through Born on Time, they have been making efforts to improve newborn survival.
The report provides a comprehensive analysis and estimate on elemental formula market based on segmental analysis. The key segments identified in elemental formula market include nature, formula type, end product form type, distribution channel and region. Fact.MR analysts have studied the elemental formula market segments, thereby, providing an explicit comparison between key market data, such as Y-o-Y growth, market share, volume, and revenue. The report also carries regional performance of elemental formula market, bifurcating the market into North America, Europe, Japan, Oceania, Middle East & Africa (MEA), Latin America and Asia-Pacific excluding Japan (APEJ).
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 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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