Elemental Formula Sales Surge with Growing Shift to Hypoallergenic Solutions, finds FactMR Study
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“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”, says FactMR report.
According to the study, use of elemental formula for infant nutritional management of Cow’s Milk Protein Allergy (CMPA) is gaining attention, both across developed and developing economies. The effectiveness of elemental formula for CMPA instances is being further backed by favorable recommendations from renowned organizations, such as American Academy of Pediatrics (AAP) and European Society of Pediatric Gastroenterology, Hepatology, and Nutrition (ESPGHAN). Elemental formulas are being widely-embraced for infants and children suffering from severe malabsorption, making it a force to reckon with in the infant nutrition space.
The report states that end-user preference for conventional elemental formula remains significant 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 end-user confidence on organic infant formulations, driven by a pervasive belief of ‘organic’ being synonymous with ‘healthy’.
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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. This buoyancy of elemental formula in powder form can be attributed to its low price, which favors the prudent shopping behavior of end-users. End-users are more likely to purchase elemental formula from drug and pharmacy stores, wherein they find immense scope to buy authenticated and prescribed products at reasonable prices. Supermarkets/hypermarkets are also likely to steer sales of elemental formula, as end-users get to choose from a wide-range of products found on the store shelves at favorable deals.
With ever-evolving concerns for health and wellness, use of probiotics has gained centerstage 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.
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With multiple number of elemental formula brands offering products with claims of assorted health-oriented benefits, end-users are relying on a judgment that is based on both quality and price. In line with the aforementioned, manufacturers in the elemental formula market are realigning their strategies to offer best-quality products at competitive prices in order to boost end-user confidence and repeat sales.
FactMR’s report offers compelling insights into the elemental formula market over the forecast period of 2018-2028. As per the report, the elemental formula market is likely to proliferate at a volume CAGR of over 8% during the forecast period.
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