Ready-to-use therapeutic food market is poised to surpass US$ 300 million by 2030

Ready-to-use Therapeutic food market will grow at a steady CAGR through 2030, according to a new research by ESOMAR-certified firm Future Market Insights (FMI). The study opines that impact of COVID-19 on ready-to-use therapeutic food market will be moderate, and industry players can expect to see sustained growth throughout the forecast period.

In order to provide such undernourished children with required specialized care, the popularity of ready-to-use therapeutic food is witnessing substantial upsurge. Amidst the ongoing COVID-19 pandemic, FMI projects the global ready-to-use therapeutic food market to surpass the US$ 300 Mn by 2020-end, and nearly double in size by 2030-end.

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"NGO's in poor or underdeveloped countries are likely to register a higher CAGR in ready-to-use therapeutics food market due to rising number of malnutrition cases. UNICEF is playing a major role by launching feeding centres and organizations to combat poverty and hunger," says the FMI Analyst.

Ready-to-Use Therapeutic Food Market - Key Highlights

• Ready-to-use therapeutic food market is poised to surpass US$ 300 million by 2030.

• Kenya and Malawi and other poor regions are going to register a higher CAGR rate due to disrupting economic conditions.

• Drinkable segment is the most preferred type and dominates the segment globally.

• Middle East and Africa cumulatively accounts to be the largest shareholders in the market.

Ready-to-Use Therapeutic Food Market -Driving Factors

• Rising consumption by infants due to underdeveloped digestive system has improved the demand.

• Rising number of malnutrition cases has fuelled the sales for drinkable fluids.

• UNICEF and WFP are organizing awareness campaigns and organizations for poor families which has led to increased adoption of therapeutics food.

Ready-to-Use Therapeutic Food Market -- Key Restraints

• Expensive price of RUTF food products will impose financial pressure, thereby, acting as a major restraint.

• Fluctuating price of raw materials poses major threat to the market.

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Expected Impact on Market by Coronavirus Outbreak

Strict lockdown has reduced the production of ready-to-use therapeutic food but rising number of unemployment cases and poverty has driven the adoption for therapeutic food. Due to the spread of COVID, these eatables are likely to capture attention due to reduced immunity. The market in Europe will revive as players are focussing on supplying to RUTF, RUSF and other NGO's while the presence of high-quality food in US will expand the growth prospects in the upcoming years.

Competitive Landscape

Key players in the ready-to-use therapeutics market include Nuflower Foods, GC Rieber Compact AS, Valid Nutrition, InnoFaso, Edesia Inc., Nutrivita Foods, Diva Nutritional Products, Insta Products Ltd., Mana Nutritive Aid Product Inc., Meds & Food for Kids Inc.

Expansion of product portfolio remains a key strategy to gain profit. Focus is shifting on products that enhance immunity and are also cost-efficient at the same time.

For instance, Mana Nutrition has partnered with international aid organizations to enhance product supplies. In 2017, they sent 900 boxes of RUSF and RUTF to Somalia.

Meds & Foods for Kids distributes highly nutritious food to pregnant ladies and children in Haiti. They have launched peanut butter medicine to enhance taste and nutrition too.

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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth.

This release was published on openPR.