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Pediatric Supplements Market is Expected to Witness Steady Growth during 2016-2024

Press Release   •   Jan 13, 2017 11:34 IST

Nutritional supplements such as multi-mineral and multivitamin supplements, which are designed for kids up to the age of 18 years,are known as pediatric supplements. These supplements provide healthcare medications to children so as to increase their immunity. The global market for pediatric supplements has been segregated on the basis of raw materials, age groups, and geographies. On the basis of raw materials, the market has been segregated into omega 3 fatty acids, minerals, vitamins, and proteins. The vitamins segment held a dominant share of the global market in 2015 and is expected to witness steady growth during the forecast period. This is attributable to increased demand for vitamin and multivitamin supplements for kids in order to raise their immunity and resistance against diseases. The proteins segment is projected to witness speedy growth during the forecast period, owing to the increased number of cases of protein deficiency in children. This deficiency is caused by unhealthy food habits.This has increased the demand for protein supplements considerably.

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On the basis of age groups, the global market for pediatric supplements has been segregated into infants, middle-aged children, and adolescents. The adolescents segment dominated the global pediatric supplements market in 2015,holding nearly 50% of the total market share. This is attributed to teenagers consuming more instant and convenient food as a part of their regular diet, which deprives them of essential nutrients leading to nutritional deficiency in them. This results in increased demand for supplements among teenagers. The middle-aged children segment is anticipated to experience speedy growth, as an increased number of school-going children are consuming convenient or fast food as at least one important meal of the day. This is attributable to the risen number of working parents in urban areas, who have less time to prepare food at home. This, in turn, is fueling the demand for pediatric supplements.

Major drivers for the global pediatric supplements market include high benefits that these supplements provide to the body. Pediatric supplements also contain essential nutrients such as vitamins, proteins and minerals which are required for children’s immunity and resistance against diseases. This is another factor driving the global pediatric supplements market. An increased number of counterfeit products available in the market and synthetic ingredients used in several supplements are restraining the growth of the global market for pediatric supplements, as awareness about the harmful effect of these ingredients on human body has been increasing.

Geographically, the global market for pediatric supplements has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific held the dominant share in the global market for pediatric supplements in 2015.The market in the region is estimated to witness steady growth during the forecast period. This is attributed to large investments made by global players in the region, due to a large number of young people in countries in Asia Pacific. The market in the region is likely to witness speedy growth during the forecast period. North America follows Asia Pacific, owing to the large size of young population suffering from nutritional deficiency.

Major players operating in the global pediatric supplements market include Abbott Laboratories (Illinois, the U.S.), Advaxis (New Jersey, the U.S.), Alexion Pharamaceuticals Inc. (Connecticut, the U.S.), Beximco Pharmaceuticals Ltd. (Dhaka, Bangladesh), Centrix Pharmaceutical, Inc. (Alabama, the U.S.), Douglas Laboratories (Pennsylvania, the U.S.), E. I. du Pont de Nemours and Company (Delaware, the U.S.), Elorac, Inc. (Illinois, the U.S.), Healios Oncology Nutrition, LLC (Texas, the U.S.), Nutrinia Ltd. (New Jersey, the U.S), Octapharma AG (Lachen, Switzerland), Perrigo Company plc (Dublin, Ireland), Pfizer Inc. (New York, the U.S.), SOFAR S.p.A (Milan, Italy), Vit-Best Nutrition (California, the U.S.), Walgreen Company (Illinois, the U.S.), and Xtend-Life Natural Products (Intl) Ltd. (Christ Church, New Zealand).

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