Ready-To-Use Therapeutic Food Market Estimated to be Valued at US$ 617.4 Mn by 2024; Europe to Dominate the Market Through 2024

In a new report titled “Ready-to-use Therapeutic Food Market: Global Industry Analysis and Forecast, 2016–2024”, Persistence Market Research delivers key insights on the global ready-to-use therapeutic food market and analyzes the key factors and trends impacting market performance over an eight-year forecast period (2016 – 2024). In 2015, the global ready-to-use therapeutic food market was valued at US$ 249.2 Mn, and this is estimated to increase to US$ 276.0 Mn by 2016 end, reflecting a Y-o-Y growth rate of 10.7%. In terms of value, the global ready-to-use therapeutic food market is expected to register a CAGR of 10.6% during the forecast period.

Market dynamics

Increasing government as well as NGO focus on the treatment of malnutrition is expected to drive revenue growth of the global ready-to-use therapeutic food market over the forecast period. Also, an increasing demand for drinkable ready-to-use therapeutic foods and rising global emergencies and disasters is expected to further fuel market growth. Demand for semi-solid paste therapeutic food products as a result of easy storage and distribution is fueling the demand for ready-to-use therapeutic food products to manage people suffering from severe acute malnutrition. Demand for ready-to-use drinkable therapeutic food is increasing with the government focusing on increasing the procurement of drinkable ready-to-use foods for small children. Rise in regional government bodies and global manufacturers planning to establish local manufacturing facilities is another major driving factor fueling the growth of the global ready-to-use therapeutic food market. However, increasing consumer/local government shift towards local ingredients and inconsistencies in ready-to-use therapeutic food milk products thereby creating a risk of contamination are factors likely to restrict market growth during the forecast period.

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The global ready-to-use therapeutic food market offers great opportunities for market players with UNICEF encouraging the domestic production of ready-to-use therapeutic foods.

Market forecast

The global ready-to-use therapeutic food market is segmented on the basis of Product Type into Solid (Powder/Blends, Biscuits/Bar), Semi-solid Paste, and Drinkable Therapeutic Food; and on the basis of Region into North America, Asia Pacific (APAC), Europe, and Middle East & Africa (MEA). The Powder/Blends solid segment is estimated to create incremental $ opportunity of US$ 1.5 Mn between 2016 and 2024, registering a CAGR of 11.2% during the forecast period. The Biscuits/Bar solid segment is estimated to create incremental $ opportunity of US$ 7.8 Mn between 2016 and 2024, witnessing a CAGR of 8.7% during the forecast period. The Semi-solid Paste segment is expected to retain its dominance in the global ready-to-use therapeutic food market throughout the forecast period, with 90.7% value share by 2024.

Among regions, Europe is estimated to account for a maximum revenue share of 62.0% of the global ready-to-use therapeutic food market by the end of 2016. The MEA market is expected to account for 19.1% market share of the global ready-to-use therapeutic food market by the end of 2016. The Europe ready-to-use therapeutic food market is estimated to be valued at US$ 171.0 Mn by 2016 end and is expected to increase to US$ 355.7 Mn by 2024 end, registering a CAGR of 9.6% during the forecast period.

Vendor highlights

This report covers detailed profiles of key players operating in the global ready-to-use therapeutic food market – Insta Products (EPZ) Ltd., MANA, Nutrivita Foods Pvt Ltd., Power Foods Industries Ltd., Tabatchnick Fine Foods, HILINA Enriched Food Processing Center P.L.C., GC Rieber Compact AS, Diva Nutritional Products, Edesia, Inc., Nutriset, and InnoFasoSA. Ease of product availability, rising malnutrition population in developing nations, and an easy storage and distribution network are factors encouraging new players to venture into the global ready-to-use therapeutic food market. Established players in the global ready-to-use therapeutic food market are expanding production facilities and are focusing on product innovations, which is creating robust competition in the global ready-to-use therapeutic food market.