US$ 10,687 Million Global Medical Foods Market Size to grow by 4.5% in 2018

January 24 06:36 2018

Bekryl Industry Research “Medical Foods Market Report
The medical foods market is expected to witness giant stride in its revenue by later half of the forecast period (post 2022). The growth will be fueled by developing economies, while developed regions will continue to play market dominance with key focus on product innovation.

The Global Medical Foods market size is estimated to be valued at USD 11,162.6 million in 2018 and will register a CAGR of 5.2% between 2018 and 2028.

Medical foods, also known as food for special medical purpose, is defined by FDA as food which is formulated to be consumed or administered enterally through the supervision of a physician and which is intended for the specific dietary management of a disease or condition for which distinctive nutritional requirements, based on recognized scientific principles, are established by medical evaluation.

 The industry has become highly competitive in last few years with increasing large number of food manufacturers. Over 100 different medical foods product has been launched in the market since 2010. Sales is expected to be stable between 2016 and 2020 and will witness significant higher traction post 2020. Medical foods market growth is expected to further boost owing to regularization of medical foods market in China.

Growth in the medical foods market will be fueled by various factors most prominent of them are rise in geriatrics population and shift from ingredient focus strategy to broader brand positioning and marketing efforts.

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Market consolidation in Europe and North America along with emergence of new players are some of the trends impacting the overall competitive scenario. In the last few years, medical foods industry has witnessed impressive growth creating higher market opportunity. As a result, mergers and acquisitions took place in last five years. Nestle and Danone has been at the forefront to the acquisition of various companies including Nutricia and Pamlab. However, a new trend has been observed in the market wherein other companies are entering medical foods market to generate higher revenue during the forecast period. For instance, in 2017, BASF announced its plan to enter in distribution agreement with DIEM Labs LLC for its medical food product in U.S. Another major company, Ajinomoto acquired equity position in U.S. medical food company Cambrooke Therapeutics Inc. for USD 64 million. The company is looking to gain 20% market share metabolic disorder segment by 2027.

Bekryl’s market research report, Medical Foods Market Size Analysis and Industry Opportunity, finds Asia Pacific to account for 26% of global sales in 2018, growing at a CAGR of 7.9% between 2018 and 2028. Japan accounted for 50% of regional market share in 2017. However, is rapidly losing its market share China and India. China will overtake Japan by end of 2026. While almost every major companies have its presence in the region, Grunbiotics and Kingdomway are two companies with headquarter in Asia Pacific. The region has higher addressable market and will create 218% higher revenue opportunity than Europe during the forecast period.

 

To Know more about the industry outlook, visit: https://bekryl.com/industry-trends/medical-foods-market-size-analysis

Some key global medical foods market players are Nestle, Abbott Laboratories, Primus Pharmaceuticals, Xymogen, Targeted Medical Pharma, Fresenius SE & Co. KGAA, Mead Johnson Nutrition Company and Danone.

 

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