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Medical Foods Market Growth, Competitive Analysis, Business Opportunities, And Regional Forecast To 2030 | COVID-19 Effects
Global
Medical Foods Market – Overview
Owing
to growing consumer needs and their awareness about dietary supplements and
other medical foods required for nutrition and prevention of chronic disorders
has grown in recent years. Market Research Future, a firm which specializes in
market reports related to the Foods, Beverages & Nutrition sector among
others, recently forecasted in its report “Medical Foods Market Research Report- Forecast to 2030” that
the market will demonstrate an exceptional CAGR % while achieving million
dollar growth readily in the forecast period
The
escalating medical service cost has resulted in consumer shift towards adoption
of healthy alternatives into their daily routine. Owning to this, the
consumption and demand for medical foods have experienced a drastic increase.
Consumers are identified to include consumption of functional foods and
supplements as a part of their daily diet. Medical foods provide essential
nutrients the body thereby enhancing the body’s metabolism.
Apart
from this, increasing growth of organized retail sector is expected to fuel the
sales of medical foods during the forecast period. Increasing chronic diseases
among the growing population is driving the growth of the market. Moreover,
nutritional deficiency is a common concern observed globally which will propel
the growth of the global medical foods market. Increasing geriatric population
is anticipated to be a major factor driving the growth of medical foods market.
Latest
Industry Updates
Nov-2017
BASF SE has collaborated with DIEM Labs to strengthen the presence in U.S.
especially for the medical foods
Nov-2017
Ajinomoto has acquired Cambrooke Therapeutics, Inc. in order to enhance the
product portfolio of medical foods
Jan
2017 DURHAM, N.C. a personal care brand Burt’s Bees has announced its new
functional food category with the introduction of plant-based protein shakes.
Sep
2017 Kellogg has invested in mushroom protein company. Kellogg is a leading
player in the breakfast meal products. This will help in increasing the company
revenue and will allow also to come up with high quality medicinal supplements.
Nov
2016 SOHM, Inc. has launched a unique protein supplement “I-Prolec” in to the
American supplement market. This product was a category defining product in
India, and has very has good response from its consumers in the U.S.
Global
Medical Foods Market - Competitive Analysis
Industrial
players are involved in the acquisition of small players which will further
support the company to expand and reach out to consumers across the regions,
the end-user industries are inclined towards product promotions through social
media, magazines and other mediums in order to reach out to customers. The
promotional strategy aids in retaining the existing the customers and also to
regenerate new customer base.
With
strategic expansions, market players can focus on penetrating into the
developing economies to expand their business portfolio. Consumers in
developing countries are keen on exploring new product range offered to them
and form a large consumer base. Establishing market in these emerging economies
is profitable based on relatively low set-up costs, ease of doing business, and
further lower variable cost to be incurred.
The
medical foods market players profiled in medical foods are: Danone SA
(France), Nestlé SA (Switzerland), Abbott Laboratories(U.S.), Mead Johnson
& Company, LLC (U.S.), Primus Pharmaceuticals Inc. (U.S.), Targeted Medical
Pharma Inc. (U.S.), Fresenius Kabi AG (Germany)
Global
Medical Foods Market – Segments
The
global medical foods market has been divided into nutritional ingredients,
form, ailment, and region.
On
the Basis of Nutritional Ingredients: Vitamins Minerals, Proteins, Omega-3,
Isoflavones, Phytosterols
On
the Basis of Form: Pills, powders, and others
On
the Basis of Ailment: Alzheimer’s Diseases, Diabetic Neuropathy, Nutritional
Deficiency, and Depression
On
the Basis of Region: North America, Europe, Asia Pacific, and ROW.
Global
Medical Foods Market - Regional Analysis
The
global Medical Foods market is segmented into North America, Europe, APAC, and
Rest of the World (RoW). Global Medical Foods market is highly dominated by
North America and Europe owing to high consumption of nutritive and functional
dietary supplement on a regular basis. North America is estimated to account
for the major market proportion in the year of 2017 and it is expected to
retain its dominance throughout the forecast period of 2017-2023. Among the
North American region, the U.S. is accounting for a significant market
proportion in the North America market. Also, the U.S. is estimated to retain
its dominance throughout the forecast period of 2017-2023. Presence of
established players in medical food products in the U.S. has attracted a huge
consumer base. Product promotions through celebrity endorsements are also
playing a significant role, giving a boost to this market.
However,
Asia Pacific region is projected to expand at a high pace during the forecast
period of 2022-2030. Escalating consumption of dietary supplement for enhanced
body metabolism is supporting the sale of medical foods in this region.
Presence of multi-national companies involved in the production of medical
foods and running awareness campaigns is adding fuel to the market growth of
medical foods in this region. Rising per capita disposable income is also
observed to be a key driver for this market in Asia Pacific.
At Market
Research Future (MRFR), we enable our customers to unravel the complexity of
various industries through our Cooked Research Report (CRR), Half-Cooked
Research Reports (HCRR), & Consulting Services. MRFR team have supreme
objective to provide the optimum quality market research and intelligence
services to our clients.
Contact us:
Market Research
Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,
5Th Floor,
New York, New
York 10013
United States of
America
+1 628 258 0071
Email:
sales@marketresearchfuture.com
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