Elemental Formula Market to Witness Growth Acceleration During 2018-2028
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 report offers compelling insights into the elemental formula market over the forecast period of 2018-2028. As per the report, the elemental formula market is likely to proliferate at a volume CAGR of over 8% during the forecast period. Fact.MR’s new research study profiles the evolving landscape of 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.
The elemental formula market report highlights the following players:
- Ausnutria Dairy Corporation Ltd.
- Abbott Laboratories
- Mead Johnson & Company, LLC
- Royal FrieslandCampina
The elemental formula market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail.
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.
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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.