South Korea Enteral Feeding Formulas Market Size & Outlook
South Korea enteral feeding formulas market, 2018-2030 (US$M)
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South Korea enteral feeding formulas market highlights
- The South Korea enteral feeding formulas market generated a revenue of USD 118.2 million in 2023 and is expected to reach USD 187.5 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.8% from 2024 to 2030.
- In terms of segment, oral was the largest revenue generating product in 2023.
- Oral is the most lucrative product segment registering the fastest growth during the forecast period.
Enteral feeding formulas market data book summary
| Market revenue in 2023 | USD 118.2 million |
| Market revenue in 2030 | USD 187.5 million |
| Growth rate | 6.8% (CAGR from 2023 to 2030) |
| Largest segment | Oral |
| Fastest growing segment | Oral |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Oral, Enteral |
| Key market players worldwide | Abbott Laboratories, Danone SA, Fresenius SE & Co KGaA, Nestle SA, Meiji Holdings Co Ltd, Reckitt Benckiser Group PLC, Victus, Primus Pharmaceuticals |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.6% of the global enteral feeding formulas market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China enteral feeding formulas market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 114.3 million by 2030.
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Enteral Feeding Formulas Market Scope
Enteral Feeding Formulas Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea enteral feeding formulas market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to enteral feeding formulas market will help companies and investors design strategic landscapes.
Oral was the largest segment with a revenue share of 94.67% in 2023. Horizon Databook has segmented the South Korea enteral feeding formulas market based on oral, enteral covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea has a large elderly population, thus the need for clinical nutrition and enteral feeding is high. For instance, according to the UN data, in 2021, the number of people aged 65 and above accounted for 17% of the total population in South Korea. In addition, according to Statistics Korea, the percentage of senior citizens in South Korea is estimated to be 36.7% of the total population in 2044.
Moreover, increase in the incidence of preterm birth is another major factor driving the growth of the enteral feeding formulas market in South Korea. For instance, according to the Journal of Korean Medical Science, preterm birth in South Korea increased from 5.9% in 2011 to 8.0% in 2019.
Furthermore, growing prevalence of neurological diseases may boost the adoption of enteral feeding formulas in South Korea during the study period. For instance, as per a PubMed article, published in 2019, the estimated annual incidence of Parkinson's disease ranged between 22.4 and 27.8 cases per 100,000 population in South Korea.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea enteral feeding formulas market , including forecasts for subscribers. This country databook contains high-level insights into South Korea enteral feeding formulas market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea enteral feeding formulas market size, by stage, 2018-2030 (US$M)
South Korea Enteral Feeding Formulas Market Outlook Share, 2023 & 2030 (US$M)
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