by U.S. Medical Foods Market refers to specially formulated and processed products that are intended for the dietary management of diseases or health conditions under medical supervision when these needs may exceed the Recommended Dietary Allowances or Daily Reference Intake. Medical foods are meant for individuals with specialized dietary management needs and provide access to critical nutrients in forms that are safe and effective when taken under physician supervision. This includes products like diet managements for diabetes, cancer, autism, cognitive decline, digestive disorders and more.
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 key trends:
The growing demand for healthy and nutritious products for disease management is driving the growth of the U.S. medical foods market. Medical foods are nutritional products under physician supervision that are specially formulated and processed for the management of diseases or health conditions such as diabetes, cancer, autism and more. With increasing prevalence of chronic diseases and growing health-consciousness among consumers, there is rising focus on managing diseases through dietary modifications and clinical nutrition. Medical foods offer an effective nutritional approach for disease management by providing targeted macro and micronutrients under medical supervision. This increasing demand for nutrition-based remedies is expected to support the market growth over the forecast period.
SWOT Analysis
Strength: The U.S. market has a large consumer base and growing awareness about health benefits of medical foods.
Weakness: High costs associated with R&D, production and marketing of medical foods. Lack of insurance coverage in some cases.
Opportunity: Rising prevalence of chronic diseases and an aging population creates demand. Growing popularity of plant-based and vegetarian options.
Threats: Stiff competition from alternative treatment options and strict regulations associated with medical claims. Supply chain disruptions can impact availability.
Key Takeaways
Global U.S. Medical Foods Market Size 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 U.S. Medical Foods Market is expected to witness high growth over the forecast period driven by the rising chronic disease burden and an aging population seeking nutritional management solutions. The regional analysis shows that Western U.S. dominates currently owing to high health awareness and spending capacity. However, Southern U.S. is expected to emerge as the fastest growing market.
Key players operating in the market include 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., and Lightlife Foods, Inc. These players are focusing on product innovations, marketing campaigns and securing supply chains to cater to the growing demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
