by Medical foods are foods formulated to be consumed or administered enterally under medical supervision for disease management of medical disorders. Medical foods are considered by the United States Food and Drug Administration as distinct from dietary supplements or other foods for special dietary use. Medical foods help in managing various metabolic abnormalities associated with certain diseases or health conditions such as diabetes, cancer, ulcerative colitis, neurodegenerative diseases and others. They are typically intended for dietary management of a disease or condition or medical disorder under the direction of a physician.
The global U.S. medical foods market is estimated to be valued at US$ 22328.51 Mn in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growth in medical nutrition therapeutics demand is expected to be a key driver for the U.S. medical foods market over the forecast period. Medical foods help in addressing various metabolic needs of patients with chronic diseases or health conditions apart from the benefits of regular foods. Their role as therapeutic food items is gaining wider acceptance from physicians as well as patients. Further, with rising prevalence of chronic and lifestyle diseases affecting the U.S. population, demand for specialized nutritional dietary management is growing significantly. According to the Centers for Disease Control and Prevention, about 6 in 10 adults in the United States have a chronic disease and 4 in 10 have two or more. This high disease prevalence rate signals opportunities for increased adoption of medical foods as an important therapeutic option. Growing clinical research validating role of medical nutrition in disease management is also expected to augment market growth over the forecast period.
Segment Analysis
The U.S. Medical Foods market can be segmented into distribution channel and application. By distribution channel, the online stores segment is dominating as it offers convenience of purchasing medical foods from the comfort of home along with various discounts and offers. By application, the dietary management of diseases segment dominating as medical foods help in dietary management of chronic diseases like diabetes, cancer, renal failure etc.
PEST Analysis
Political: The regulatory environment helps ensure product quality and safety. Favourable regulations support the growth of the market.
Economic: Rising healthcare costs and growing elderly population are driving the demand for cost-effective medical food products for disease management.
Social: Increasing health awareness and focus on preventive healthcare is accelerating the demand for medical foods for dietary management of diseases.
Technological: Advancements in formulation and delivery of medical foods help in improving palatability, absorption and functionality. Personalized nutrition based on individual needs and biomarkers is gaining prominence.
Key Takeaways
The U.S. Medical Foods Market Demand is expected to witness high growth over the forecast period. The global U.S. Medical Foods Market is estimated to be valued at US$ 22328.51 Mn in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2023 to 2030.
The South region is dominating currently due to growing elderly population and increasing prevalence of chronic diseases in the region.
Key players operating in the market are Beyond Meat, Impossible Foods Inc., Maple Leaf Foods, Vegetarian Butcher, Conagra, Inc., Kellogg NA Co., Quorn, Amy’s Kitchen, Inc., Tofurky, Gold&Green Foods Ltd., Sunfed, VBites Foods Limited, Kraft Foods, Inc., Lightlife Foods, Inc., Trader Joe’s, Yves Veggie Cuisine, Marlow Foods Ltd., Ojah B.V., Moving Mountains, Eat JUST Inc., LikeMeat GmbH, GoodDot, OmniFoods, No Evil Foods, Dr. Praeger’s Sensible Foods. Key players are focusing on product innovation and expansion to bolster their positions in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
