Medical Foods Market Size

Medical Foods Market Analysis

The Medical Foods Market size is estimated at USD 10 million in 2024, and is expected to reach USD 20 million by 2029, at a CAGR of 5.30% during the forecast period (2024-2029).

Factors propelling market growth include the growing prevalence of chronic diseases, the rising geriatric population, and the increasing shift toward disease-specific formulas. Additionally, the activities of prominent players are expected to be significant factors for market growth.

The growing demand for chronic diseases, including cancer, Alzheimer's, and cardiovascular issues, is on the rise, fueled by sedentary lifestyles, poor dietary choices, and an aging demographic. Additionally, surging obesity rates and environmental factors play a role in this trend. As more individuals pursue effective management strategies for these ailments, the demand for specialized medical foods is anticipated to rise, highlighting substantial market opportunities. Additionally, as per the Alzheimer’s Disease Facts and Figures 2024 report, about 6.9 million people in the United States are living with Alzheimer’s in 2024, and this number is projected to reach 13 million by 2050.

As per the same source, the US population aged 65 and older continues to expand, and the number and proportion of the population diagnosed with Alzheimer's will also increase. Thus, patients with Alzheimer’s often require specific dietary interventions to manage symptoms and improve quality of life, which is expected to fuel the market for medical foods in the forecast period.

Additionally, as cancer cases rise, the demand for medical foods surges. These specialized nutritional solutions play a crucial role in helping patients manage symptoms, recover more effectively, and elevate their quality of life throughout treatment. For instance, according to the October 2023 report of Macmillan Cancer Support, the incidence of cancer in the United Kingdom is increasing very rapidly, and it was estimated that the number of people living with cancer in the United Kingdom was projected to grow from 3.5 million in 2025 to 4 million by 2030. Hence, with the global surge in cancer cases, the need for personalized nutritional interventions is set to increase, paving the way for significant opportunities in the medical foods industry.

Furthermore, the rising geriatric population is a significant factor driving the medical foods market, as older adults often require specialized nutritional support due to age-related health conditions. Conditions such as diabetes, heart disease, and cognitive decline necessitate tailored dietary interventions to manage these health challenges effectively. For instance, according to the Asian Bank Development (ADB), in May 2024, the population of individuals aged 60 and older in developing Asia-Pacific countries is anticipated to reach approximately 1.2 billion, nearly doubling by 2050. Therefore, as the elderly population grows, the demand for medical foods specifically designed to address their unique nutritional needs will increase. This trend presents a significant opportunity for market expansion and the development of innovative products that support healthy aging and enhance the quality of life for the geriatric demographic, which will further fuel market growth in the forecast period.

Manufacturers are actively focused on launching products and expanding new facilities in the market for global expansion. For instance, in November 2023, Danone introduced Fortimel, its first medical nutrition product for adults, in China. This product, classified as food for special medical purposes, is a crucial element of Danone's strategy in the Chinese market. The company seeks to utilize its scientific expertise across all life stages, with a particular emphasis on expanding the adult medical food segment.

Similarly, in September 2023, Danone unveiled a EUR 50 million (USD 55.81 million) expansion of its production facility in Opole, Poland. This strategic move is designed to cater to the surging global demand for medical nutrition. With chronic diseases on the rise and an aging population, Danone is positioning itself to strengthen its foothold in the medical foods market. The expansion is set to empower Danone to cater to patients worldwide.

Due to the aforementioned factors, such as the growing prevalence of chronic diseases, the rising geriatric population, and manufacturers increasingly focusing on launches and expansion, the market is expected to continue to grow over the coming years.

However, a lack of awareness about the benefits of medical foods presents a significant obstacle to the adoption of medical foods in the forecast period.