Global Medicinal Foods Market: 2024-2031
Report Overview Global Medicinal Foods Market reached US$ 21.3 billion in 2023 and is expected to reach US$ 34.1 billion by 2031, growing with a CAGR of 6.06% during the forecast period 2024-2031... もっと見る
SummaryReport OverviewGlobal Medicinal Foods Market reached US$ 21.3 billion in 2023 and is expected to reach US$ 34.1 billion by 2031, growing with a CAGR of 6.06% during the forecast period 2024-2031. The global medicinal foods market is experiencing robust growth driven by increasing health awareness among the global population. The rising prevalence of chronic diseases and an aging population seeking dietary solutions for managing health conditions and enhancing overall well-being. Medicinal foods provide a variety of benefits that extend beyond standard nutrition, aiding in health maintenance and the management of diseases and expanding the market reach. Advances in food science and technology, along with supportive regulatory frameworks, are expanding the range of products available in different types of medicinal foods. Significant opportunities for market growth lie in emerging markets, where rising incomes and changing lifestyles drive demand, as well as through product innovation, such as personalized nutrition and plant-based ingredients. North America's dominance in the global medicinal foods market is evident from the high consumer engagement in health and wellness, and the demand for nutritional dependency with the involvement of dietary supplements. According to a study by the Council for Responsible Nutrition, a significant portion of adults in US, 2,342 out of 3,133 surveyed, reported using dietary supplements regularly or seasonally. Market Dynamics Rising Prevalence of Chronic Diseases The rising prevalence of chronic diseases, such as obesity, diabetes and heart disease, is significantly driving the market for products that improve the overall well-being of a person. According to the World Health Organization's statistics, about 1 billion people worldwide are affected by obesity, with 650 million being adults and over 340 million adolescents. Additionally, the IDF Diabetes Atlas reports that 537 million adults globally are living with diabetes, which is expected to rise to 643 million by 2030. Further, WHO estimates that cardiovascular diseases are the top cause of death worldwide, accounting for approximately 17.9 million fatalities annually. As people become more health-conscious and seek ways to better health, the demand for food products that add medicinal is increasing rapidly driving the market growth. Innovative Product Launches New and innovative product launches are a significant driver for growth in the global medicinal foods market focussing on foods designed to provide specific health benefits beyond basic nutrition. For instance, in March 2022, Lanfam LLC introduced Proleeva, a medical food aimed at alleviating chronic pain and inflammatory disorders. Proleeva works by addressing amino acid deficiencies, reducing free radicals, boosting antioxidant levels, enhancing neurotransmitter activity and managing oxidative stress. Similarly, in December 2021, SFI Health launched two new medical foods EQUAZEN PRO, which balances omega-6/omega-3 levels in ADHD and supports brain health and Ther-Biotic PRO IBS Relief in US. The latter addresses IBS by strengthening the gut barrier and balancing gut microbiota to reduce symptoms. High Costs of Medicinal Foods High costs associated with the development, production and marketing of medicinal foods significantly restrain the growth of the global market. These expenses encompass extensive research and development, rigorous clinical trials and navigating complex regulatory approval processes. As a result, companies face substantial financial barriers that can limit their ability to introduce new products and scale up production efficiently. The financial strain hampers innovation and market entry and also creates a competitive disadvantage. Preferences and acceptance of medicinal foods can vary widely across different cultures and regions. With the higher costs of these products, consumers look out for replacements to complement the medicinal benefits with a cheaper range. Medicinal foods often compete with pharmaceuticals and traditional treatments. Market Segment Analysis The global medicinal foods market is segmented based on product, form, health benefits, route of administration, distribution channel and region. Increasing Digestive Health Issues The global medicinal foods market is segmented based on health benefits into digestive health, cardiovascular health, immune support and others. The digestive health segment accounted for the largest share of the global market. There is increasing awareness about the importance of gut health and its connection to overall well-being. This awareness has led to greater consumer interest in medicinal foods. The high prevalence of gastrointestinal issues highlights the dominance of digestive health in the global medicinal foods market. According to a comprehensive multinational study by the National Institutes of Health, over 40% of the global population suffers from gastrointestinal problems, with diarrhea affecting 4.7%, constipation 11.7% and irritable bowel syndrome (IBS) 4.1% of people. The widespread occurrence creates substantial demand for products designed to support digestive health, such as probiotics, prebiotics and fiber-enriched foods. The significant number of individuals experiencing these conditions drives the market for medicinal foods aimed at alleviating symptoms and promoting overall digestive well-being, underscoring the importance of this segment in addressing a major global health concern. Market Geographical Share Rising Prevalence of Health Concerns in North America North America dominates the global medicinal foods market. Regional consumers are increasingly seeking out medicinal foods for their potential health benefits, such as managing diabetes, improving cardiovascular health and enhancing overall wellness. There is a high prevalence of obesity and diabetes in North America, affecting over 41.9% of adults, 19.7% of children with obesity, and approximately 37.3 million Americans with diabetes. The widespread health challenge creates a high demand for medicinal foods tailored to manage these conditions, leading to extensive innovation and the development of specialized products. The presence of a highly developed healthcare system and rapid investments in R&D for pharmaceuticals and nutritional sciences fuels the development of new medicinal foods and dietary supplements in the region fueling the market growth. Market Competitive Landscape The major global players in the market include B Braun SE, Abbott Nutrition, Danone S.A., Mead Johnson & Company, LLC., Meiji Holding & Co, Ltd., Ajinomoto Cambrooke Inc., Nestle Health Sciences, Perrigo Company plc., Dutch Medical Food BV. and Hearthside Food Solutions, LLC. By Product Herbal Supplements Functional Foods Nutraceuticals Other By Form Powder Tablet Others By Health Benefits Digestive Health Cardiovascular Health Immune Support Other By Route of Administration Oral Enteral Others By Distribution Channel Pharmacies Supermarkets/Hypermarkets Specialty Stores Online Retail Others By Region North America US Canada Mexico Europe Germany UK France Italy Spain Rest of Europe South America Brazil Argentina Rest of South America Asia-Pacific China India Japan Australia Rest of Asia-Pacific Middle East and Africa Key Developments In March 2023, Nutrazee, an Indian company, unveiled Nutrazee Probiotic Gummies, which are designed to enhance digestive and immune health for both children and adults. In November 2022, Geno entered the functional foods and beverages market with its new ingredient, Avela natural (R)-1,3-Butanediol. Debuting at SupplySide West 2022 in Las Vegas, this sugar-free ingredient boosts beta-hydroxybutyrate ketone levels, the body's primary energy source during ketosis. In March 2022, Lanfam LLC introduced Proleeva, a medical food aimed at alleviating chronic pain and inflammatory disorders. Proleeva works by addressing amino acid deficiencies, reducing free radicals, boosting antioxidant levels, enhancing neurotransmitter activity and managing oxidative stress. Why Purchase the Report? To visualize the global medicinal foods market segmentation based on product, form, health benefits, route of administration, distribution channel and region, as well as understand key commercial assets and players. Identify commercial opportunities by analyzing trends and co-development. Excel data sheet with numerous data points of the medicinal foods market with all segments. PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study. Product mapping available as excel consisting of key products of all the major players. The global medicinal foods market report would provide approximately 78 tables, 76 figures and 231 pages. Target Audience 2024 Manufacturers/ Buyers Industry Investors/Investment Bankers Research Professionals Emerging Companies Table of Contents1. Methodology and Scope1.1. Research Methodology 1.2. Research Objective and Scope of the Report 2. Definition and Overview 3. Executive Summary 3.1. Snippet by Product 3.2. Snippet by Form 3.3. Snippet by Health Benefits 3.4. Snippet by Route of Administration 3.5. Snippet by Distribution Channel 3.6. Snippet by Region 4. Dynamics 4.1. Impacting Factors 4.1.1. Drivers 4.1.1.1. Rising Prevalence of Chronic Diseases 4.1.1.2. Innovative Product Launches 4.1.2. Restraints 4.1.2.1. High Costs of Medicinal Foods 4.1.3. Opportunity 4.1.4. Impact Analysis 5. Industry Analysis 5.1. Porter's Five Force Analysis 5.2. Supply Chain Analysis 5.3. Pricing Analysis 5.4. Regulatory Analysis 5.5. DMI Opinion 6. By Product 6.1. Introduction 6.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product 6.1.2. Market Attractiveness Index, By Product 6.2. Herbal Supplements 6.2.1. Introduction 6.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%) 6.3. Functional Foods 6.4. Nutraceuticals 6.5. Other 7. By Form 7.1. Introduction 7.2. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form 7.3. Market Attractiveness Index, By Form 7.4. Powder 7.4.1. Introduction 7.4.2. Market Size Analysis and Y-o-Y Growth Analysis (%) 7.5. Tablet 7.6. Others 8. By Health Benefits 8.1. Introduction 8.2. Market Size Analysis and Y-o-Y Growth Analysis (%), By Health Benefits 8.3. Market Attractiveness Index, By Health Benefits 8.4. Digestive Health 8.4.1. Introduction 8.4.2. Market Size Analysis and Y-o-Y Growth Analysis (%) 8.5. Cardiovascular Health 8.6. Immune Support 8.7. Other 9. By Route of Administration 9.1. Introduction 9.2. Market Size Analysis and Y-o-Y Growth Analysis (%), By Route of Administration 9.3. Market Attractiveness Index, By Route of Administration 9.4. Oral 9.4.1. Introduction 9.4.2. Market Size Analysis and Y-o-Y Growth Analysis (%) 9.5. Enteral 9.6. Others 10. By Distribution Channel 10.1. Introduction 10.2. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel 10.3. Market Attractiveness Index, By Distribution Channel 10.4. Pharmacies 10.4.1. Introduction 10.4.2. Market Size Analysis and Y-o-Y Growth Analysis (%) 10.5. Supermarkets/Hypermarkets 10.6. Specialty Stores 10.7. Online Retail 10.8. Others 11. By Region 11.1. Introduction 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region 11.1.2. Market Attractiveness Index, By Region 11.2. North America 11.2.1. Introduction 11.2.2. Key Region-Specific Dynamics 11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product 11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form 11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Health Benefits 11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Route of Administration 11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel 11.2.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country 11.2.8.1. US 11.2.8.2. Canada 11.2.8.3. Mexico 11.3. Europe 11.3.1. Introduction 11.3.2. Key Region-Specific Dynamics 11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product 11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form 11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Health Benefits 11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Route of Administration 11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel 11.3.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country 11.3.8.1. Germany 11.3.8.2. UK 11.3.8.3. France 11.3.8.4. Italy 11.3.8.5. Spain 11.3.8.6. Rest of Europe 11.4. South America 11.4.1. Introduction 11.4.2. Key Region-Specific Dynamics 11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product 11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form 11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Health Benefits 11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Route of Administration 11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel 11.4.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country 11.4.8.1. Brazil 11.4.8.2. Argentina 11.4.8.3. Rest of South America 11.5. Asia-Pacific 11.5.1. Introduction 11.5.2. Key Region-Specific Dynamics 11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product 11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form 11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Health Benefits 11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Route of Administration 11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel 11.5.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country 11.5.8.1. China 11.5.8.2. India 11.5.8.3. Japan 11.5.8.4. Australia 11.5.8.5. Rest of Asia-Pacific 11.6. Middle East and Africa 11.6.1. Introduction 11.6.2. Key Region-Specific Dynamics 11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product 11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form 11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Health Benefits 11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Route of Administration 11.6.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel 12. Competitive Landscape 12.1. Competitive Scenario 12.2. Market Positioning/Share Analysis 12.3. Mergers and Acquisitions Analysis 13. Company Profiles 13.1. B Braun SE 13.1.1. Company Overview 13.1.2. Product Portfolio and Description 13.1.3. Financial Overview 13.1.4. Key Developments 13.2. Abbott Nutrition 13.3. Danone S.A. 13.4. Mead Johnson & Company, LLC. 13.5. Meiji Holding & Co, Ltd. 13.6. Ajinomoto Cambrooke Inc. 13.7. Nestle Health Sciences 13.8. Perrigo Company plc 13.9. Dutch Medical Food BV. 13.10. Hearthside Food Solutions, LLC (*LIST NOT EXHAUSTIVE) 14. Appendix 14.1. About Us and Services 14.2. Contact Us
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