Enteral Feeding Formula Global Market Report 2022: Ukraine-Russia War Impact

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Dec 21, 2022, 10:10 ET

NEW YORK, Dec. 21, 2022 /PRNewswire/ --

Major players in the enteral feeding formula market are Abbott Laboratories, NestlÃ© SA, Danone SA , Fresenius Kabi AG, Mead Johnson Nutrition Company, B Braun Melsungen AG, Hormel Foods, Victus Inc, Meiji Holdings Co Ltd, Global Health Product Inc, Medline Industries Inc, Otsuka Pharmaceutical Factory, Rickett Benckiser Group Plc, Nutritional Medicinals LLC and Trovita Health Science.

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The global enteral feeding formula market is expected to grow from $5.03 billion in 2021 to $5.38 billion in 2022 at a compound annual growth rate (CAGR) of 7.04%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The enteral feeding formula market is expected to reach $7.14 billion in 2026 at a compound annual growth rate (CAGR) of 7.32%.

The enteral feeding formulas consists of sales of diabetic formula, renal formula, hepatic formula, pulmonary formula and peptide based formula.Values in this market are â€˜factory gateâ€™ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

The enteral feeding formulas are food formulations containing specific nutrients as per the need of the consumer.Patients, who are in intensive care or are unable to swallow the food, need certain nutrients.

The enteral feeding formulations can fulfil the nutrients and nutritional requirements. They are used for directly delivering the food or nutrients to the patientâ€™s stomach or small intestine.

North America was the largest region in the enteral feeding formula market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the enteral feeding formula market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values â€" that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The main products of enteral feeding formulas are standard formulas and disease-specific formulas.Standard feeding formulas are formulas intended for people with normal digestion.

Standard formulas consist of all the nutrients that are required to maintain health.The stages are adults and pediatrics.

The applications of enteral feeding formulas are oncology, gastroenterology, neurology, diabetes, critical care, and other applications. Hospitals and long-term care facilities are the end users of enteral feeding formulas.

The growing geriatric population will propel the growth of the enteral feeding formula market.Globally, the number of people aged 65 years or above was increasing in recent years.

The geriatric population is most vulnerable to chronic disorders and often requires feeding through the enteral route.Thus, the increasing number of old age people increases the demand for enteral foods.

According to the World population ageing 2020 report by United Nations, there were 727 million people aged 65 years or above in 2020 and estimated the number to double by 2050, accounting for around 1.5 billion. The share of the older population in the total population was 9.3% in 2020, and by 2050 estimated to increase to 16.0%. Therefore, the growing geriatric population will drive the growth of the enteral feeding formula market forward.

Technological advancements are a key trend gaining popularity in the enteral feeding formula market.Major companies in the market are constantly innovating and launching newer enteral formulas.

The launch of new products provides customers with more options and increases demand for enteral feeding formulas, which drives the enteral feeding formula market. For instance, in August 2020, Kate farms, a manufacturer of plant-based feeding formulas, launched two new organic plant-based formulas, the standard 1.4 formula and pediatric peptide 1.0 formula. The new formulations would provide plant-based options to support patients suffering from chronic diseases or having difficulty maintaining or gaining weight.

In October 2021, Nutricia, a Netherland-based a part of food and beverage company, acquired Real Food Blends for an undisclosed amount.With this acquisition, Nutricia expands the Real Food Blends goal and portfolio to provide children and people with feeding tubes with even more distinctive and nourishing alternatives.

Real food blends US-based company that produces real-food products for tube feeding.

The countries covered in the enteral feeding formula market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The enteral feeding formulas market research report is one of a series of new reports that provides enteral feeding formulas market statistics, including enteral feeding formulas industry global market size, regional shares, competitors with a enteral feeding formulas market share, detailed enteral feeding formulas market segments, market trends and opportunities, and any further data you may need to thrive in the enteral feeding formulas industry. This enteral feeding formulas market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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