Can You Explain the Medical Food Market?
Thank you very much for your question.
The medical food market consists of two diverse product lines – functional foods and nutraceuticals.
Functional foods were developed to manage specific health conditions, especially those common with the elderly.
The market had its start in Japan during the 1980s. To learn more about functional foods, consult MarketLine’s report Growth of a Niche Market.
Nutraceuticals help prevent and treat medical conditions and have health benefits. The word is a combination of nutrition and pharmaceutical. Nutraceuticals come in three forms: foods, beverages and supplements. Between 2014 and 2019, the market is forecasted to grow 6.5% annually. To learn about the key players in the market as well as how the market will continue to grow, consult Infiniti Research Limited’s Global Nutraceuticals Market report.
Last year, the market for functional foods and nutraceuticals reached $241.25 billion. The market has been steadily growing thanks to an increase in the elderly population, a rise in health and wellness and people self medicating.
The United States and Asia-Pacific are the world’s largest markets. In the near future, Brazil, China and India are expected to become significant market niches.
The market is not regulated as strictly as traditional pharmaceuticals. Europe is leading the way in clinical research.
In addition to geriatrics, medical foods also are aimed at individuals with diabetes, metabolism problems and cancer. Most of these products contain nutritional protein and lipids. Cardiology and immune health are likely areas to see the next medical food products. To find out more about this market, what is fueling its growth and how much the market will be valued in 2018, consult Frost & Sullivan’s Global Medical Foods Market report.
A nutritional supplement is defined as one that contains amino acids, fatty acids, fibers, minerals, trace elements, or vitamins. They are meant to supplement the diet with nutrients a person otherwise is not consuming in sufficient quantities. They can come in the form of powders, pills or liquids, and are used to prevent disease or deal with a lifestyle change. There are six product lines of supplements: botanical, herb, meal replacements, minerals, sports nutrition and vitamins.
The nutritional supplement market is growing, thanks in part to an aging population, the rising cost of healthcare, high obesity rates, and a large urban population.
If this market interests you, consult Koncept Analytics’ report Global Nutritional Supplements Market for more information including industry trends and developments and the top markets. The major areas covered by the report include Australia, China, Europe, India and the U.S.
We hope this information has been helpful to you. There is more useful information about the food supplement and vitamin market in ReportLinker’s portal. If you have any additional questions or needs, please feel free to contact us.