Sales of elemental formula predicted to grow
Examples of elemental formula
The evolving demand for high quality and cost-effective infant formulas is driving sales of elemental formula, according to a study by Fact.MR. During the period of 2018-2028, the elemental formula market is predicted to grow at a volume CAGR of over 8%.
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.
The report found that demand of elemental formula, otherwise known as amino acid-based formula, is witnessing growth following the importance of protein as a chief macronutrient in infant nutrition.
“Sales of elemental formula will witness sheer proliferation in line with multipronged broad factors, including need for effective supplements ensuring optimal infant health. Use of elemental formula as a vital part of dietary management of food allergies is one among the key touchpoints influencing sales growth,” said the report.
According to the study, elemental formulas are being widely-embraced for infants and children suffering from severe malabsorption and nutritional management of cow’s milk protein allergy (CMPA) across developed and developing economies. The effectiveness of elemental formula for CMPA instances is being further backed by recommendations from organisations such as American Academy of Pediatrics (AAP) and European Society of Pediatric Gastroenterology, Hepatology, and Nutrition (ESPGHAN).
The report states that end-user preference for conventional elemental formula remains significantly high, with global demand anticipated to surpass 7,800 tons in 2019. Easy availability at economical prices is one among the chief factors fuelling investments in conventional elemental formula. Sales of organic elemental formula is also estimated to witness a healthy growth in 2019, attributed to growing pervasive belief of ‘organic’ being synonymous with ‘healthy’.
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, attributed to its low price.
With ever-evolving concerns for health and wellness, use of probiotics has gained center-stage 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.