Rise in Number of Health-conscious Consumers to Aid Market Growth
Evolving consumer trends, in terms of diet and consumption of various nutritional products, are one of the major factors expected to have a strong influence on the overall growth of the global clinical nutrition products market in the upcoming years. With growing penetration of Internet and increasing access to digital media, more number of consumer awareness pertaining to the benefits of clinical nutrition products is on the rise, which, in turn, is likely to have a positive impact on the growth of the global clinical nutrition products market during the forecast period. A number of established food brands and manufacturers, along with several small- to medium-scale startups, has entered the global clinical nutrition products market in recent years. Due to this, a wide array of clinical nutrition products are available at various price brackets.
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While consumer awareness continue to move in the upward trajectory, market players are projected to comply with the stringent regulatory framework and focus on the product development strategies to attain the approval from the concerned authoritative body. Several players operating in the current clinical nutrition products market are leaning toward expanding product portfolio and manufacturing capabilities to cater to the swelling demand for clinical nutrition products, particularly in the developed region. The significant rise in the number of health-conscious consumers worldwide is another factor projected to augment the demand for clinical nutrition products during the assessment period.
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Popularity of Probiotics and Functional Food Products to Boost Demand
The noteworthy rise in the number of health-conscious consumers coupled with the soaring demand for functional food & beverages is anticipated to have a strong impact on the overall growth of the global clinical nutrition products market in the upcoming decade. The Asia Pacific region is likely to be one of the most lucrative markets for players operating in the current clinical nutrition products market landscape, owing to sheer size of the market and consistent rise in the number of health-conscious consumers. Moreover, rise in geriatric and ageing population in nations, such as Japan, is another factor that is expected to accelerate the demand for clinical nutrition products in the foreseeable future.
A number of consumers from various age-categories is open to trying new products to improve quality of living due to which, market players should focus on curating effective and engaging marketing strategies. The booming eCommerce sector around the world is another major factor anticipated to fuel the growth of the global clinical nutrition products market during the forecast period.
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Brands Eye Product Launches to Establish Strong Market Foothold
Companies operating in the clinical nutrition products market landscape are eyeing product launches to gain a competitive edge in the market. For instance, in April 2020, an Indian start-up Esperer Onco Nutrition announced the launch of a wide range of clinical nutrition products that are specifically developed for cancer patients. In August 2019, Nestle and Danone announced that the companies are increasingly focusing on expanding their product portfolio, and expanding their product portfolio by launching new clinical nutrition products.
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High Demand for Optimum Nutritional Management amid COVID-19 Pandemic
The outbreak of the COVID-19 pandemic is expected to have a strong influence on the clinical nutrition products market in 2020, as the demand for nutritional management, particularly among children and older population, continues to witness consistent growth. The demand for clinical nutrition products amid the ongoing COVID-19 crisis is on the rise, as consumers are seeking various immunity-boosting alternatives to prevent being infected from the novel coronavirus. While offline sales are likely to take a hit in 2020, online sales are anticipated to witness sizeable growth in 2020 due to stringent lockdown and transportation restrictions imposed by governments of various countries in different regions.
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