Elemental Formula Market Analysis by Size, Share, Demand and Trends between 2018 and 2028
The elemental formula market report highlights the following players:
Ausnutria Dairy Corporation Ltd.
Mead Johnson & Company, LLC
The elemental formula market report examines the operating pattern of each player - new product launches, partnerships, and acquisitions - has been examined in detail.
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.
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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.
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