Meeting the Unique Needs: Understanding the Enteral Feeding Formula Market
According to a new report added on MarketsandMarkets™, the Global Enteral Feeding Formulas Market is projected to reach USD 8.2 billion by 2027 from USD 5.2 billion in 2022, growing at a CAGR of 9.5%. The research report studies the market landscape and its growth prospects during the forecast period. Several research tools such as Porter’s five forces analysis, SWOT analysis, and so on, have been exercised to provide a precise understanding of the overall market. The market research report provides an in-depth analysis of the major trends and technologies that are playing an important role in the growth of the market over the coming years. The study provides a detailed assessment of Global Enteral Feeding Formulas Market, in terms of revenue, throughout the aforementioned period.
Browse 233 market data Tables and 46 Figures spread through 233 Pages and in-depth TOC on "Enteral Feeding Formulas Market by Product (Polymeric, Elemental, Disease-specific), Stage (Adults, Pediatrics), Application (Oncology, Gastroenterology, Neurology, Hypermetabolism), End User (Hospitals, LTCF, Home care) - Global Forecast to 2027".
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The research report provides a detailed analysis of the current and historical market trends, development patterns, and the correlations between the market dynamics and forecasts, as well as the hard-hitting market facts. The global Enteral Feeding Formulas Market has been segmented on the basis of technology, product type, application, distribution channel, end-user, and industry vertical, along with the geography, delivering valuable insights. The report also takes into account the market drivers, restraints, challenges, threats, and the potential growth opportunities influencing the growth pattern of the key market segments. The section also focuses on the key micro- and macroeconomic factors impacting the growth of the overall market.
Prominent Players:
Major player included are Abbott (US), Nestlé S.A. (Switzerland), Danone S.A. (France), Fresenius Kabi (Germany), B. Braun Melsungen AG (Germany), Otsuka Holding Co. Ltd. (Japan), Nutritional Medicinals, LLC (US), Kate Farms (US), Medtrition Inc. (US), Victus, Inc. (US), Global Health Products, Inc. (US), Meiji Holdings Co., Ltd. (Japan), Reckitt Benckiser Group PLC. (UK), Hormel Foods Corporation (US), DermaRite Industries, LLC. (US), Medline Industries, LP. (US), Real Food Blends (US), and Ajinomoto Cambrooke, Inc. (US).
Abbott is the leading player in the enteral feeding formulas market. The company operates in the market through its Nutritional Products segment. With its strong global presence and wide distribution network, the company possesses a robust product portfolio comprising adult and pediatric nutritional formulas. The company focuses on developing innovative formulas and expanding its global presence.
Nestlé is a multinational health, nutrition, and wellness company. It manufactures and markets milk-based products, pharmaceuticals, baby foods and cereals, ophthalmic goods, and cooking aids. The company operates in seven major business segments—Powdered and Liquid Beverages, Petcare, Nutrition and Health Science, Prepared Dishes and Cooking Aids, Milk Products and Ice cream, Confectionary, and Water. The company provides a range of enteral feeding formulas through its Nestlé Health Science segment. In 2021, the Nestlé Health Science segment contributed the largest share of 5.5% to the company’s revenue, which was 3.9% in 2020. The continuous growth of this segment is primarily due to its strong product portfolio, brand recognition, and high demand for nutritional formulas. In 2021 and 2022, the company acquired Orgain (US) and The Bountiful Company (US), which enabled the company to expand its presence in the market. The company operates in over 186 countries across Zone EMENA (Europe, Middle East, and North Africa), Zone AMS (The Americas), and Zone AOA (Asia, Oceania, and Africa).
Fresenius Kabi has a strong global footprint and focuses on providing high-quality, innovative clinical nutrition solutions. The company has a wide geographic presence in established markets and a broad product portfolio that includes nutritional supplements and tube feed & pediatric feed products. Along with this, Fresenius Kabi supports external development projects. The company also established the United for Clinical Nutrition (UFCN) initiative to raise awareness of disease-related malnutrition worldwide. This has enabled the company to expand its geographic presence.
Danone observed increased demand for its specialized nutrition formulas in the Asia Pacific. Infant nutrition posted growth in revenue, driven by China and the Rest of the World. The company also focuses on adopting collaboration and geographic expansion to sustain its position in the market. With the recall of some nutritional formulas by Abbott in May 2022, Danone announced that it would double the shipments of Neocate formula to the US.
The company has a strong foothold in the enteral feeding formulas market. This is due to its strong sales and distribution network. The company offers a wide range of child and adult feeding formulas in the market through its Specialized Nutrition business segment. The specialized nutrition business of Danone is expected to grow through multi-channel sales strategies and the expansion of its product portfolio.
B. Braun Melsungen AG focuses on expanding its enteral feeding product portfolio. For enteral nutrition, the company offers feeding formulas and devices such as standard diets, specific diets, enteral nutrition pumps, pump administration systems, gravity administration systems, feeding tubes, and safety systems. A product portfolio enables the company to maintain its competitive position in the market. In 2021, the Healthcare business witnessed a 5.1% in revenue, with growth in North America, Germany, and Latin America markets being the major drivers, followed by Switzerland and East Europe. Additionally, Japan, Australia, and Thailand exhibited double-digit growth. The company aims to establish its market position in these countries, driven by increasing demand for enteral nutrition.
This report categorizes the Enteral Feeding Formulas Market to forecast revenue and analyze trends in each of the following submarkets:
By Product
· Standard Formula
· Disease specific
· Diabetic Formula
· Renal Formula
· Hepatic Formula
· Pulmonary Formula
· Other Disease Specific Formula
· Peptide based formula
· Other Formula
By Stage
· Adults
· Pediatric
By End User
· Hospitals
· Long Term Care facilities
· Nursing Homes
· Assisted Living Facilities
· Home Care Agencies & Hospices
By Application
· Oncology
· Gastrointestinal Diseases
· Neurological Disorders
· Diabetes
· Other Applications
By Region
· North America
o US
o Canada
· Europe
o UK
o Germany
o France
o Italy
o Spain
o Rest of Europe
· Asia Pacific
o Japan
o China
o India
o Rest of APAC
· Latin America
· Middle East & Africa
Enteral Feeding Formulas Market Key questions answered in the report include:
1. What will be the enteral feeding formulas market size and the growth rate by the end of the forecast period?
2. What are the key factors driving the growth of the global enteral feeding formulas Market?
3. What are the key market trends impacting the growth of the market?
4. What are the challenges to enteral feeding formulas market growth?
5. Who are the leading competitors operating in the global enteral feeding formulas market?
6. What are the potential growth opportunities and threats faced by the leading competitors in the market?
7. What are the key outcomes of Porter's five forces analysis and the SWOT analysis of the key players functioning in the global enteral feeding formulas market?
Recent Developments:
· In February 2022, Nestlé (Switzerland) agreed to purchase a majority stake in Orgain, a leader in plant-based nutrition. This acquisition would complement Nestlé Health Science’s existing portfolio of nutrition products.
· In September 2021, Abbott (US) launched plant-based proteins and organic food ingredient enteral formulas for tube feeding.
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