Global Medical Foods Market Size Insights Forecasts to 2033

• The Global Medical Foods Market Size Was Valued at USD 24.73 Billion in 2023
• The Market Size is Growing at a CAGR of 7.24% from 2023 to 2033
• The Worldwide Global Medical Foods Market Size is Expected to Reach USD 49.73 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Medical Foods Market Size is Anticipated to Exceed USD 49.73 Billion by 2033, Growing at a CAGR of 7.24% from 2023 to 2033. The medical foods market is growing because more people have chronic diseases, healthcare costs are going up, and more people are learning about the benefits of medical foods. These foods are specially made to meet the nutritional needs of patients with chronic illnesses and are used alongside medical treatments to help improve patient health.

GLOBAL MEDICAL FOODS MARKET REPORT OVERVIEW

Medical foods are specially formulated products for the diet that are intended to meet the distinctive nutritional needs of individuals with specific diseases or medical conditions. Unlike conventional food, medical foods are used in the dietary management of a disease or condition that has a distinctive nutritional requirement established by medical evaluation. They are orally administered or put under the instruction of a physician and are designed to offer some essential elements that may be lacking or in short supply due to an abnormal condition or health of the patient. Examples are formulations for patients with metabolic disorders, gastrointestinal diseases, and chronic diseases such as diabetes and kidney disease. Medical foods are regulated by the FDA, but they do not fit within the legal definition of a drug. They do have to meet rigorous standards for their composition and labeling.

New technologies and research in medical foods designed for specific health needs are creating big growth opportunities for companies. These manufacturers are making sure their products are safe, effective, and easy for patients to get. By focusing on these areas, they can reach more patients and meet the growing demand for medical foods.For instance, In July 2022, Danone introduced the first-ever baby formula that combines dairy and plant ingredients, catering to parents seeking vegetarian and flexitarian options for their infants.

Report Coverage

This research report categorizes the market for the global medical foods market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global medical foods market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global medical foods market.

DRIVING FACTORS:  

“Increasing elderly population and growing awareness of the benefits of medical foods”

The growing number of elderly people is driving the demand for medical foods, as more people become aware of their benefits and seek personalized nutrition solutions. The population aged 65 and above is expected to rise significantly in the coming years, increasing the need for these specialized products. Medical foods are becoming more popular because they can help manage and treat various medical conditions. The healthcare industry is also moving towards personalized nutrition, creating customized diets and plans for individual patients, which boosts the demand for medical foods tailored to specific needs, particularly for those with chronic and neurogenic disorders. With ongoing product launches and technological advancements, the medical food market is set to keep expanding in the years ahead.

RESTRAINING FACTORS:

“People are not aware of the benefits of medical foods”

The growth of the medical foods market is being held back because many people don’t know about their benefits. Since many consumers are unfamiliar with what medical foods are and how they can help manage certain health conditions, this lack of awareness is limiting both the market’s expansion and the availability of these products. As a result, patients might not get the right recommendations or access to these helpful foods for their health needs.

Market Segmentation

The global medical foods market share is classified into route of administration, product, and sales channel.

Which segment is expected to hold the largest share of the global medical foods market during the forecast period?

“The oral segment dominates the market with the highest market share over the forecast period”

The rising preference for medications and supplements that can be taken by mouth is a major factor driving the demand for oral medical foods. This trend is supported by the commercial success of these products and initiatives that make them more available. Additionally, as manufacturers continue to produce a variety of oral medical foods, including those that are already thickened for easier consumption, powders, and pills, this growing range of options is expected to further boost the demand. In essence, as more people favor taking their medical foods orally and as the market expands with new product formats, the sector is likely to see increased growth.

Why powder is preferred over pills, liquid, or other?

“Powdered medical foods are expanding due to convenience”

Medical foods are often available as powders, which can be mixed with milk or water and taken by mouth or through a feeding tube, depending on what the doctor recommends. These powdered medical foods are suitable for people of all ages, particularly when consumed orally. Because many people find powdered formulas easier to use, manufacturers are focusing on creating more products in this format to meet consumer demands. As a result, the market is expanding with a variety of powdered options to cater to the growing preference for these convenient and user-friendly formulations.

Which segment is anticipated to dominate the global medical foods market during the forecast period?

“The institutional sales segment dominates the market with the highest market share over the forecast period”

Based on the sales channel, the global medical foods market is categorized into online sales, retail sales, and institutional sales. The rising number of patients visiting hospitals and healthcare facilities for chronic and dietary disorders is boosting the demand for medical foods. Doctors prescribe these foods to help manage specific diseases. As more patients choose to consult doctors at hospitals to manage their chronic conditions, the need for medical foods increases. Additionally, the expansion of both private and public healthcare institutions, along with the growing global population of chronic disease patients, is driving the growth of this segment.

Regional Segment Analysis of the Global Medical Foods Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Which region is expected to hold the largest share of the global medical foods market over the forecast period?

“North America is anticipated to hold the largest share of the global medical foods market over the forecast period”

North America dominated the global medical foods market mainly because of its growing elderly population who need specialized medical foods to manage chronic diseases. At the same time, there is an increase in the number of infants, adding to the overall demand for medical foods suitable for younger age groups. The region’s population is expected to keep expanding, which will further drive the need for these products. Additionally, many people in North America are dealing with nutritional deficiencies and neural disorders, conditions that require tailored medical foods. As a result, the demand for medical foods in North America is anticipated to rise significantly to meet these diverse health needs.

Why Asia Pacific is growing at the fastest CAGR in the global medical foods market?

“Asia Pacific's medical foods growth is driven by diseases and aging”

There is a rising incidence of cancer and diabetes, prompting the government to implement various policies aimed at improving the healthcare sector. At the same time, the aging population is growing and becoming more vulnerable to illnesses. Many people now lead sedentary lifestyles due to corporate jobs, but there is also increasing awareness about health, leading individuals to adopt healthier habits. Medical foods are used not only to treat diseases but also to help prevent them. The competitive landscape among local companies is driving market growth as they strive to meet the increasing demand.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global medical foods market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Danone
• Nestlé
• Abbott
• Targeted Medical Pharma Inc.
• Primus Pharmaceuticals Inc.
• Fresenius Kabi AG
• Mead Johnson & Company, LLC
• Friso
• Morinaga Milk Industry
• Medtrition, Inc.
• Metagenics LLC
• Reckitt Benckiser Group PLC
• Alfasigma USA, Inc.
• Meiji Holdings Co. Ltd.
• Victus Inc.
• Others
  
   

Recent Developments

• In April 2023, Danone acquired ProMedica, a Polish company specializing in-home care services for patients. This acquisition is part of Danone's strategy to expand in the lucrative specialized nutrition market and enhance its presence in Poland.

• In February 2023, Nestlé and EraCal Therapeutics have partnered for research to discover new nutraceuticals that can help control food intake. The joint program between Nestlé Health Science and EraCal combines Nestlé’s specialized nutraceutical resources with EraCal’s innovative drug discovery platform.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global medical foods market based on the below-mentioned segments: 

Global Medical Foods Market, By Route of Administration

• Oral
• Enteral

Global Medical Foods Market, By Product

• Powder
• Pills
• Liquid
• Other

Global Medical Foods Market, by Sales Channel

• Online Sales
• Retail Sales
• Institutional Sales

Global Medical Foods Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa

Rest of the Middle East & Africa