Overview and Scope
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 patient’s stomach or small intestine.
Sizing and Forecast
The enteral feeding formula market size has grown strongly in recent years. It will grow from $6.02 billion in 2023 to $6.61 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to rising geriatric population, increased prevalence of chronic diseases, technological advancements in enteral feeding formula, growing awareness of clinical nutrition, expansion of home healthcare services.
The enteral feeding formula market size is expected to see rapid growth in the next few years. It will grow to $9.68 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to growing incidence of malnutrition, expansion of the elderly population, advances in enteral nutrition research, increasing adoption of home enteral nutrition, rise in the number of hospitals and long-term care facilities. Major trends in the forecast period include development of disease-specific enteral feeding formulas, demand for plant-based and organic formulas, focus on immunonutrition in enteral feeding, customized enteral nutrition solutions, adoption of blenderized tube feeding formulas.
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Segmentation & Regional Insights
The enteral feeding formula market covered in this report is segmented –
1) By Product: Standard Formulas, Disease-Specific Formulas
2) By Stage: Adults, Pediatrics
3) By Application: Oncology, Gastroenterology, Neurology, Diabetes, Critical Care, Other Applications
4) By End User: Hospitals, Long-Term Care Facilities
North America was the largest region in the enteral feeding formula market in 2023. 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, Africa
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Major Driver Impacting Market Growth
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. For instance, in October 2022, according to the World Health Organization, a Switzerland-based international public health organization, the global population of individuals aged 60 years is projected to increase to 1.4 billion by 2022 compared to 1 billion in 2020. Moreover, 1 out of 6 people in the world will be aged more than 60 years or older by 2030. Therefore, the growing geriatric population will drive the growth of the enteral feeding formula market forward.
Key Industry Players
Major companies operating in the enteral feeding formula market report are Abbott Laboratories, Nestlé S. A., Danone S. A., Fresenius Kabi AG, Mead Johnson Nutrition Company, B. Braun Melsungen AG, Meiji Holdings Co. Ltd., Real Food Blends, Ajinomoto Cambrooke Inc., Otsuka Pharmaceutical Co. Ltd., Hormel Foods Corporation, Meiji Seika Pharma Co. Ltd., Medtrition Inc., Nutri-Force Nutrition, Global Health Product Inc., VICTUS, Primus Pharmaceuticals Inc., Kate Farms, Baxter International Inc., Perrigo Nutritionals LLC, Reckitt Benckiser Group plc, Royal Numico NV, Bio-Serv Inc., Nutrabalace Ltd., ProSynbiotics, Med-Diet Laboratories Inc., Precision Foods-kent corporation, SimplyThick LLC, Coram LLC, Vitaflow LLC
The enteral feeding formula market report table of contents includes:
1. Executive Summary
- Enteral Feeding Formula Market Characteristics
- Enteral Feeding Formula Market Trends And Strategies
- Enteral Feeding Formula Market – Macro Economic Scenario
- Global Enteral Feeding Formula Market Size and Growth
. - Global Enteral Feeding Formula Market Competitive Benchmarking
- Global Enteral Feeding Formula Market Competitive Dashboard
- Key Mergers And Acquisitions In The Enteral Feeding Formula Market
- Enteral Feeding Formula Market Future Outlook and Potential Analysis
- Appendix
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