12 April 2021
Visiongain has published a new report on Food for Special Medical Purpose (FSMP) Market Report 2020-2030: Forecasts by Type (Nutritionally Complete Foods, Nutritionally Incomplete), by Form (Dry, Fluid), by Consumption (ONS (Oral Nutritional Supplements), Tube Feeds), by Consumer (Infants & Young Children, Adult, the Old) AND Regional and Leading National Market Analysis PLUS Analysis of Leading FSMP Companies AND COVID-19 Recovery Scenarios.
The global food for special medical purpose (FSMP) market size, in terms of value, was worth the US $xx Bn in 2019. It is projected to reach the US $xx Bn by 2030, at a CAGR of xx% between 2020 and 2030.
COVID-19 Impact on Food for Special Medical Purposes
The COVID-19 pandemic has impacted almost every industry across the globe and functional and medical food is one of those. Though, the food industry got adversely effected due to serious disruption in the supply chain and other connected markets, however, the consumer across the world realized the importance of nutrition and health in dealing with such outbreak during this tenure. Hence, FSMP market is expected to witness good recovery owing to rising awareness and surge in demand for nutritional and medical foods. There has been change in the consumer trend during this pandemic where people are moving towards ‘total wellbeing’ and ‘holistic health’ which in turn resulted in huge demand for medical foods.
Food for Special Medical purpose falls under the category of foods with nutritional uses specifically processed or formulated for the dietary management of patients, infants, and to be used under medical supervision. The food for special medical purpose (FSMP) market growth can be attributed to the growing prevalence of metabolic diseases, growing consumer unhealthy lifestyle, and surge in demand from emerging economies such as Asia Pacific, Middle East & Africa, Latin America, and others. Moreover, the increasing geriatric population adopting medical foods and rising awareness of clinical nutrition amongst healthcare professionals and patients are also contributing to the overall market growth. Based on consumption type, oral nutritional supplements led the market in 2020 owing to high commercial viability and high preference among the consumers. Oral nutritional supplements include powders, pills, puddings, and pre-thickened products.
Recent Trends in the Market:
• Factors Driving the Market Growth
• Rising awareness among consumers and healthcare professionals about clinical nutrition
• Increasing prevalence of chronic conditions and unhealthy lifestyle
• Factors Restraining the Market Growth
• Barrier to adoption
• Market Opportunities
• The surge in demand from both developing and developed economies
• Constant research & development efforts and product innovations by manufacturers offering growth opportunities to the market.
• By type, the nutritionally complete food with a disease type segment accounted for the largest share in 2019, whereas the nutritionally incomplete food category is projected to witness the fastest CAGR in coming years.
• Asia-Pacific registered the fastest growth owing to various developments by the FSMP manufacturers coupled with government initiative, especially in the Asia-Pacific region. For instance, China reduced the import tariffs on FSMP to expand imports for meeting domestic demands. However, this has also intensified the competition in the local China market.
• Merger and acquisition have been identified as the preferred strategy among the key players to penetrate the market and strengthen the market share. Murray Goulburn Dairy business in China was acquired by Danone in 2020 for setting up its first production facility for infant milk formula in China.
Market Segmentation 2020-2030:
• Nutritionally Complete Food Market, 2019-2030
• Nutritionally Complete Foods with a Disease Market, 2019-2030
• Nutritionally Incomplete Food Market, 2019-2030
• Dry Food Market, 2019-2030
• Liquid Food Market, 2019-2030
• Oral nutritional supplements (ONS) Market, 2019-2030
• Tube Feed Market, 2019-2030
• Infants & Young Children Market, 2019-2030
• Adult Market, 2019-2030
• The Old Market, 2019-2030
Focused regional forecasts and analysis explore the future opportunities:
North America Market, 2019-2030
• U.S. Market, 2019-2030
• Canada Market, 2019-2030
Europe Market, 2019-2030
• Germany Market, 2019-2030
• UK Market, 2019-2030
• France Market, 2019-2030
• Spain Market, 2019-2030
• Italy Market, 2019-2030
• Rest of Europe Market, 2019-2030
Asia-Pacific Market, 2019-2030
• China Market, 2019-2030
• Japan Market, 2019-2030
• India Market, 2019-2030
• Australia Market, 2019-2030
• Indonesia Market, 2019-2030
• Rest of Asia Pacific Market, 2019-2030
Latin America Market, 2019-2030
• Brazil Market, 2019-2030
• Mexico Market, 2019-2030
• Rest of Latin America Market, 2019-2030
The Middle East & Africa Market, 2019-2030
• GCC Market, 2019-2030
• South Africa Market, 2019-2030
• Rest of MEA Market, 2019-2030
• The global food for special medical purposes (FSMP) market is a competitive market due to the presence of a mix of experienced and new players.
• Rising demand for FSMP across the globe expected to attract more new players in the future, fueled by rising acceptance and awareness regarding medical foods.
• Mergers and Acquisition and Investment are among key strategies being adopted by the players operating in the market.
• FSMP market is very consolidated where the top 10 payers accounted for more than 65% of market share is retained these players and remaining is distributed among the mix of mid and small players.
• Many companies are operating in the market; however, several players are entering the market by developing more standardized and cost-effective products.
• Companies are strategically expanding their global presence and offering improved products based on rapidly changing consumer trends amid pandemic.
Major Market Players:
• Key companies operating in the market are Nestle S.A.; Danone S.A.; Abbott Laboratories; Bayer AG; Mead Johnson & Company, LLC.; Ajinomoto Co., Inc.; Fresenius Kabi; Primus Pharmaceuticals; LENUS Pharma GesmbH; GFI - Gruppo Farmaimpresa.; Galen Limited and Nualtra Ltd among others.
Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to firstname.lastname@example.org or call her on +44 (0) 20 7549 9987.
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.
Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.
The mesenchymal stem cells market was valued at US$2.44 billion in 2021 and is projected to grow at a CAGR of 13.82% during the forecast period 2022-2032.
21 September 2022
The global advanced wound care management market is estimated to be valued at US$12,581.3 million in 2022. The market is projected to reach a market value of US$23,307.5 million by 2032 and is projected to grow at a CAGR of 6.36% during the forecast period 2022-2032.
16 September 2022
The gene therapy R&D market was valued at US$1,653.0 million in 2021 and is projected to grow at a CAGR of 30.1% during the forecast period 2022-2032.
15 September 2022
The medical device contract manufacturing market was valued at US$69.22 billion in 2021 and is projected to grow at a CAGR of 12.9% during the forecast period 2022-2032.