Enteral Feeding Formulas Market To Generate $10,963.7 Million Revenue by 2030
- Published: February 2024
The global enteral feeding formulas market was valued at USD 5,781.8 million in 2023, which is expected to reach USD 10,963.7 million by 2030, progressing with a CAGR of 9.7% during 2024–2030. This is attributed to the rise in the incidence of malnutrition and babies and adults as the diet people are taking nowadays lacks many essential nutrients or does not contain them in the recommended amounts.
Malnutrition occurs when the body does not get enough nutrients essential for daily activities. Reasons include a digestive condition, poor diet, and another disease. According to the Global Hunger Index (GHI) 2022, Yemen was the most affected by malnutrition and hunger, with an index of 45.1.
Moreover, the rise in the geriatric population and increase in the prevalence of chronic diseases, such as cancer, diabetes, gastrointestinal diseases, and neurological diseases, play a major role in the growth of the enteral feeding formulas market.
Furthermore, the increasing number of road accidents and injuries is forecast to add fuel for the growth of this market. According to The American Association for the Surgery of Trauma, road traffic crashes kill approximately 1.2 million people annually around the globe. Furthermore, people who are injured take long to heal and, in the meanwhile, are unable to move or move their jaw muscles to chew. This makes enteral feeding formulas important to fulfill their daily nutrition needs.
Disease-Specific Category Registering Highest CAGR
The disease-specific category is predicted to witness the highest CAGR in the forecast period because of the rising population with diabetes, neurological disorders, and cancer. Since these diseases affect the body’s nutrition balance in different ways, disease-specific formulae are specially created to help people with these conditions gain the required amount of nutrients their bodies are lacking.
Pediatrics Category Accounted for Largest Revenue Share
Based on age category, the pediatrics category held the largest share in 2023, because companies are launching formulas for children. for instance, in October 2022, Nature’s One LLC introduced an organic formula in its Baby's Only lineup. This pediatrics formula is designed to meet all the FDA nutrient requirements, to ensure the growth of infants.
The adults category also held a significant share in 2023. This was due to the rise in the geriatric population, as older people are more prone to chronic disease and, sometimes, unable to digest food properly.
Continuous Feeding Flow Category Dominates market
Continuous feeding flow accounted for the highest revenue in 2023, as many studies have shown better results for this feeding technology. For instance, an article published in the journal Nutrients in February 2022 concludes that more than 80% of the nutrition requirement can be fulfilled by continuous enteral feeding. For patients under ventilation, continuous enteral feeding significantly improves the achievement of the target nutrition requirements. Moreover, the rising adoption of this approach for patients suffering from severe cancer, cardiovascular diseases, and respiratory conditions is expected to boost the growth of this category during the forecast period.
Enteral Feeding Formulas Are Majorly Used for Gastrointestinal Diseases
The gastrointestinal diseases category dominated the application segment in 2023. It is because gastrointestinal diseases affect the GI tract from the buccal cavity to the anus. Moreover, GI conditions, such as nausea, lactose intolerance, food poisoning, and diarrhea, which are rising in incidence, make it difficult for people to consume food conventionally, thus making enteral feeding formulae important.
Asia-Pacific Is Fastest-Growing Region
Asia-Pacific is expected to witness the highest enteral feeding formulas market CAGR, of 10.0%, during the forecast period. This is due to the increasing population, rising incidence of chronic disease, and growing population suffering from malnutrition.
Some of the key players operating in the market are Abbott Laboratories, Danone S.A., Fresenius Kabi AG, Nestlé S.A., Victus Inc., Primus Pharmaceuticals Inc., and Meiji Holdings Company Ltd.