New York, NY -- (SBWIRE) -- 08/10/2018 -- Persistence Market Research recently conducted in-depth analysis of the global ready-to-use therapeutic food market, according to which the global sales registered a value worth US$ 307.3 Mn in 2017. The market is poised to be valued in excess of US$ 617 Mn by 2024 end, according to the report, titled "Ready-to-use Therapeutic Food Market: Global Industry Analysis and Forecast, 2017–2024." The market is expected to observe exponential growth at a robust CAGR of around 10.5% over a seven-year forecast period, 2017-2024.
"Favourable initiatives by government as well as non-government entities in order to efficiently treat severe acute malnutrition (SAM) will remain a key factor impacting the demand for ready-to-use therapeutic food products throughout the projection period," states a research analyst, Persistence Market Research.
With more intensifying instances of severe acute malnutrition (SAM) worldwide, the global market for ready-to-use therapeutic food (RUTF) has been experiencing a rapid upsurge since the past decade. As RUTF is high energy fortified food, it is being predominantly used in the treatment of SAM, by government as well as non-government entities. RUTF will continue to gain traction as the highest recommended nutrition alternative by UNICEF, WHO, UNSSCN, and WFP. The market has been seeing escalated domestic production in the recent past, which is foreseen to boost the growth of market. Furthermore, growing encouragement from UNICEF for R&D of RUTF raw materials is also expected to fuel the market growth in near future.
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The regional analysis highlights continued dominance of the European market, primarily because the regional European companies have been the key providers of RUTF to leading organisations, such as UNICEF. This region houses state-of-the-art manufacturing facilities, which are currently under ambitious expansion plans. MEA is identified to be another key market and the most opportunistic region for ready-to-use therapeutic food in coming years, owing to the support from local as well as regional governments. While local governments in MEA are augmenting SAM treatment budgets, regional governments are on the verge of approving new production facilities. APAC market for RUTF will reportedly flourish due to CAMAM implementation. On account of a significant malnutrition rate, some of the underprivileged Asian and African countries are anticipated to constantly drive the demand for RUTF products.
Among product types, semi-solid paste segment is presumed to remain the dominant segment throughout the assessment period and will possibly thrive at an impressive CAGR of over 10%. Research says that the products that fall under this category tend to have a negligible risk of contamination and is thus relatively safer for children. Moreover, they do not demand preparation before they are distributed among children, and are more convenient and cost-effective in terms of transport and storage. The market is expected to see extensive innovation in solid RUTF products. Drinkable ready-to-use therapeutic foods segment is however believed to observe substantial and relatively higher growth in near future, as the UNICEF has recently announced its focus on drinkable RUTF procurement.
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The report profiles the key vendors in the global ready-to-use therapeutic food market, some of which include GC Rieber Compact AS, MANA, Nutriset, Tabatchnick Fine Foods, Edesia, Inc., Insta Products (EPZ) Ltd., Nutrivita Foods Pvt Ltd., Power Foods Industries Ltd., Tabatchnick Fine Foods, HILINA Enriched Food Processing Center P.L.C., Diva Nutritional Products, and InnoFasoSA.