The global enteral feeding formulas market, valued at USD 5,781.8 million in 2023, is projected to reach USD 10,963.7 million by 2030, with an anticipated growth rate of 9.7% during 2024–2030. This growth of the market can be credited to the surge in the elderly populace and the surge in the occurrence of chronic illnesses, such as diabetes, cancer, neurological diseases, and gastrointestinal diseases.
Another reason that is propelling the development of the industry is the high occurrence of malnutrition or shortages in nutrient consumption. Patients who are undernourished or who are in danger of malnutrition can fulfill their need for nutrition by taking enteral feeding formulas mainly because they comprise all the vital nutrients, like calories, vitamins, and protein needed for everyday activities. As per the WHO, around 45% of the demises among kids below 5 years of age are linked to undernutrition. They typically happen in middle-income nations.
In 2023, standard formulas had the largest share of 35% and they are projected to lead the product segment during the projection period. This can be credited to the fact that this formula is made for grownups or kids who have normal digestion. Additionally, standard formulas can be utilized for both enteral feeding and as an oral supplement. Furthermore, standard formulas are lucrative easily obtainable, and can be utilized in hospital and homecare settings.
In 2023, gastrointestinal diseases held the highest feeding formulas industry income, of approximately USD 1.5 billion, and it is projected to lead the application segment during the projection period. This is because of the growing occurrence of gastrointestinal illnesses, which affect the GI tract from the buccal cavity to the anus. Some instances are lactose, nausea, food poisoning, and diarrhea.
During the projection period, North America is projected to continue dominating the industry with a share of approximately 55%. This is mainly because of the standardized and favorable FDA rules for these products in the U.S. The U.S. FDA has announced it would permit makers of infant formula products to use implementation discretion to surge the supply of pediatric formula throughout the nation.
