Future Market Insights (FMI), a leading provider of market research and consulting services, has released its latest report on the global clinical nutrition market, highlighting a promising growth trajectory. According to FMI’s in-depth analysis, the market is projected to reach USD 13.4 billion by the end of 2023 and is expected to surge to USD 29.2 billion by 2033. This growth reflects a robust compound annual growth rate (CAGR) of 8.1%.
The anticipated expansion of the clinical nutrition market can be attributed to several key factors. Increasing consumer awareness regarding the critical role of nutrition in overall health is driving a surge in demand for specialized clinical nutrition products. These products are tailored to meet specific health needs, which is fostering a growing preference among consumers.
Moreover, the global aging population is playing a significant role in the market’s growth. Clinical nutrition products are essential for managing chronic health conditions and enhancing well-being among older adults, further propelling the market forward.
“We are witnessing a transformative phase in the clinical nutrition market,” stated a FMI. “The convergence of heightened consumer awareness and the demographic shift towards an aging population underscores the immense growth potential for specialized nutritional products.”
FMI’s report highlights that North America currently dominates the clinical nutrition market, driven by advanced healthcare infrastructure and widespread adoption of innovative nutritional therapies. However, the Asia Pacific region is poised to emerge as a lucrative market opportunity, supported by increasing healthcare expenditure and rising awareness of preventive healthcare measures.
As the global clinical nutrition market continues to evolve, stakeholders across the healthcare spectrum are encouraged to capitalize on emerging trends and innovations to meet the growing demand for effective nutritional solutions.
Key Takeaways:
- Adults are leading the consumer segment with a growth of 7.8%. Adults are now more prone to chronic diseases due to their unhealthy choices and sedentary lifestyles.
- Cancer leads the application segment with a rate of 7.6%. A cancer patient is highly vulnerable to malnutrition, which can cause nutritional deficiencies and can severe the patient’s condition. To overcome this, proper and planned nutrition is required along with the therapies.
- The United Kingdom holds a leading position in the European clinical nutrition industry with a growth rate of 7.2% due to the high prevalence of chronic diseases, the growing elderly population, and the rising frequency of metabolic disorders.
- The United States holds a prominent share of the market contributing revenue of USD 9.4 billion by 2033. This region has high obesity rates among other regions which is a key factor for the development of the market
- China market is growing at an impressive rate of 7.5%. Diabetes is the most prevalent disease in the region which creates a significant need for proper nutrition. Growing awareness among the people is estimated to further provide lucrative opportunities in the region.
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Competitive Landscape:
Prominent firms in the sector are implementing strategic plans like boosting output and broadening their global footprint. For instance, the dairy cooperative Laita’s ESI Nutrition division announced in May 2020 that the Ploudaniel facility has the first commercial plant and a new manufacturing line that is completely operational. Additionally, ESI Nutrition sought to increase the variety of formats clients could choose from, so it introduced two new, smaller-than-usual container sizes: 70 ml and 90 ml. These are transparent to monitor consumption levels and ergonomically constructed to make them easy to manage.
Latest Developments:
- To provide customized nutrition solutions to the South Korea market, Hologram Sciences and Maeil Health Nutrition partnered in October 2022.
- In April 2022, Glanbia Nutritionals introduced TechVantage, a platform for nutrient technology that has been functionally improved, and offers customers nutrient solutions.
Key Players:
Nestle Health Science, Fresenius Kabi, Abbott Laboratories, Danone, B Braun Melsungen AG, Baxter International Inc., Mead Johnson (Reckitt Benckiser), and Perrigo are some of the key players in clinical nutrition market.
Key Segments Covered in the Clinical Nutrition Market Report:
By Product:
- Infant Nutrition
- Parenteral Nutrition
By Application:
- Cancer
- Metabolic Disorders
- Neurological Diseases
- Gastrointestinal Disorders
- Others
By Distribution Channel:
- Retail Stores
- Pharmacies & Drug Stores
- Online Channels
- Others
By Consumer:
- Pediatric
- Adult
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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