by The U.S. medical foods market includes a wide range of clinically formulated and evidence-based foods intended to manage a disease or health condition. Medical foods are generally intended for the dietary management of a medical disorder or disease. Some common examples include dietary management of metabolic disorders, mental/behavioral disorders, gastrointestinal disorders, pulmonary conditions and more.
The global U.S. medical foods market is estimated to be valued at US$ 22,328.51 million 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:
Growing Geriatric Population: The growing geriatric population in the U.S. is a key driver boosting the demand for medical foods over the forecast period. According to the United Nations, by 2050, one in six people in the world will be over 65 years old, up from one in 11 in 2019. The geriatric population is more prone to chronic diseases and health conditions which fuels the demand for dietary management through medical foods.
Another driver of the U.S. medical foods market is growing awareness amongst consumers regarding the significant health benefits of consuming clinically formulated medical foods over traditional food options when managing diseases. Medical foods have tailored nutrients and ingredients that are specifically absorbed and used by the body to manage the dietary aspects of a disease or health condition. Rising awareness amongst consumers about the effectiveness and importance of medical nutrition therapy is expected to propel the demand for medical foods during the forecast period.
Segment Analysis
The U.S. medical foods market is segmented based on product type and distribution channel. Under product type, standard formula segment dominates the market owing to wide availability and affordability of these products. These are ready-to-eat formulas designed for people with medical conditions affecting absorption of nutrients.
PEST Analysis
Political: The industry is regulated by U.S. FDA which ensures safety and efficacy of these products. The stringent regulations help maintain quality standards.
Economic: Rising healthcare costs have increased demand for cost-effective solutions like medical foods. The aging population needing nutrition support is a key driver. Inflation may impact prices.
Social: Growing health awareness and focus on preventive healthcare is increasing adoption. People are more inclined towards managing illnesses through nutrition.
Technological: Companies are utilizing advanced formulations and delivery methods. Some products are available as chewable tablets, powders, and liquid supplements for easy consumption. Innovation in ingredients aids specific conditions.
Key Takeaways
Global U.S. Medical Foods Market Size is estimated to be valued at US$ 22,328.51 million in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2023-2030.
The global U.S. medical foods market is expected to witness high growth. Regional analysis related content comprises Regional analysis related content: The Western region currently holds the largest share due to high disposable incomes and better access to specialty healthcare services. However, the South is emerging as a high growth area led by states like Texas and Florida.
Key players related content comprises Key players related content: Key players operating in the U.S. medical foods 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. These companies are focused on new product launches and expansion plans to strengthen their positions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
