Oral Clinical Nutrition Market Growth at 6% CAGR Until 2031
The demand for oral clinical nutrition supplement will rise steadily despite shifting dynamics and consumer preferences amid COVID-19. According to a study by Future Market Insights, growth outlook for the market remains positive, while its valuation is expected to surpass US$ 7.7 Bn in 2021.The rising demand from geriatric population will remain a chief growth driver. The demography will remain dominant through the forecast period and is projected to account for above 45% of oral clinical nutrition sales registered worldwide.
Aged people are often vulnerable to immunity deficiency, which can cause weight gain or loss of appetite, besides various other health-related complications. Thus to tackle such situations oral clinical nutrition supplements are administered to help improve their immunity against various illnesses and conditions.
FMI has projected the standard formula to be in high demand, accounting for half of the market share. The rising demand for flavoured oral clinical nutrition will continue supporting sales through the course of the forecast period.
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Key Takeaways from Oral Clinical Nutrition Supplement Market Study
- Exhibiting nearly 5% year-on-year growth in 2021, the oral clinical nutrition supplement market is forecast to expand steadily through 2031
- The U.S. to account for over 80% sales in North America backed by willingness among consumers to spend on health and wellness
- Demand from Germany and France will remain significantly high, aiding expansion in Europe
- China will remain dominant in Asia Pacific, besides which Japan and ASEAN will emerge among key markets
Key Market Drivers For Feed Pigments
The increased demand for lean meat, rising health consciousness among consumers about the consumption of nutritious food, expanding urbanization, and rising disposable income are the primary drivers driving the growth of the feed pigment industry. Furthermore, the rising demand for healthy and safe livestock, combined with the developing meat sector, is anticipated to accelerate the market forward.
Carotenoids’ animal health benefits, rising meat consumption, modernization of the hog, poultry, and aquaculture industries, and a growing demand for pellet feed are all likely to propel the global feed pigment market forward.
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Competitive Landscape
Some of the key players in the oral clinical nutrition supplement industry are Danone Nutricia, NUTRICIÓN MÉDICA SL, Nature’s Bounty, Medifood International, Meiji Holdings Co., Ltd., Medtrition Inc., GlaxoSmithKline plc, B Braun, Perrigo Nutritionals, Fresenius Kabi Ltd, Victus Inc., Nestle Health Science, Pharmavite, Pfizer Inc., Bayer AG, Church & Dwight, and others.
Understanding the growing demand for oral clinical nutrition supplements the key players in the industry are revising their strategy. These players are trying to increase their regional presence in the untapped market via mergers, acquisitions, and partnerships with the other players in the industry.
- In 2020, Ajinomoto Cambrooke, Inc. acquired a medical nutrition company called Nualtra Limited, who offers life-enhancing oral nutritional supplements in the Ireland and UK.
- In July 2019, Perrigo Company plc announced successful acquisition of Ranir Global Holdings LLC, who is leading global supplier of the oral self-care products.
Oral Clinical Nutrition Supplements Market by Category
Product Type
- Standard Formula
- Specialized Formula
Indication
- General Well-being
- Renal Disorders
- Hepatic Disorders
- Oncology Nutrition
- Diabetes
Form
- Liquid
- Semi-solid
- Powder
End User
- Adult
- Geriatric
- Pediatric
Flavor
- Regular
- Flavored
- Chocolate
- Vanilla
- Strawberry
- Apple
Channel
- Prescription-based
- Over-the-Counter
- Modern Trade
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
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Key Questions Answered in the Report
- Which is the most lucrative market for oral clinical nutrition supplements?
- Which product type is leading the global oral clinical nutrition supplement market?
- Which is the major indication for use of oral clinical nutrition supplement?
- Consumers majorly prefers oral clinical nutrition supplements in which form?
- Who is the major consumer of oral clinical nutrition supplements?
Among the regular and flavoured which is the most preferred oral clinical nutrition supplements?
Which are some of the leading companies offering oral clinical nutrition supplements?
Related Reports:
Extruded Snacks Market – The global extruded snacks market was estimated to account for USD 56.3 billion in 2022 and is projected to reach USD 74.2 billion by 2032, recording a CAGR of 7.4% during the forecast period.
Feed Pigments Market – The overall feed pigment market is expected to grow from USD 1,217.4 million in 2022 to USD 1,771.4 million by 2032, at a CAGR of 6.2% from 2022 to 2032.
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