Global Food as a Medicine Market - 2024-2031

Overview

Global food as a medicine market reached US$ 4.71 billion in 2023 and is expected to reach US$ 11.51 billion by 2031, growing at a CAGR of 12.2 % during the forecast period 2024-2031.

Food as a medicine refers to prioritizing food and diet in an individual's health plan to prevent, reduce, or prevent disease symptoms. The "food as a medicine" approach to health management challenges the foundation of conventional medicine, which depends primarily on technological medical developments to treat health and disease using pharmaceutical medications. Using "food as a medicine" may lower healthcare expenses by potentially reducing illness severity through improved labwork, fewer drugs, and fewer hospitalizations.

A large number of educated and knowledged consumers prefer food as a medicine approach over medications which includes drugs and other treatments. For instance, according to a study by the Food Safety Net Services (FSNS) in May 2023, 55% of customers are willing to pay a premium for food that can act as medicine, improving their health and well-being.

Market Dynamics: Drivers & Restraints

Rising prevalence of chronic diseases

The increasing prevalence of chronic diseases is significantly driving the growth of the food as a medicine market and is expected to drive throughout the market forecast period. As people are becoming more health conscious, they are actively looking for ways to prevent illnesses, increase immunity, manage ongoing illness, and improve their general well-being by adopting food as a medicine approach. As a result, food is increasingly regarded as a critical component in accomplishing these health goals.

Various dietary strategies, such as anti-inflammatory foods, cardiovascular alternatives, anti-aging nutrition, and detoxifying diets are gaining popularity as supplementary therapies and as essential components of modern healthcare procedures. This increasing awareness is shifting individuals toward food-centric solutions and is expected to continue as people seek natural, sustainable, and effective ways to manage and avoid chronic conditions. Traditional healing foods are gaining demand due to their nature and with no side effects.

For instance, according to the National Institute of Health in 2024, the prevalence of diabetes is expected to reach 643 million by 2030, which is mainly due to a 150% increase in developing nations. India, China, the United States, Indonesia, Japan, Pakistan, Russia, Brazil, Italy, and Bangladesh are the countries with the highest diabetes rates. Diabetes has been identified as a serious worldwide health concern. Diabetes cases are growing at a far faster rate in low- and middle-income countries than in high-income countries.

With the increasing prevalence of cancer, there is an increasing focus on food as a disease prevention approach to reduce health risks and use food as a medicine. The relationship between food and cancer prevention is becoming simpler, with several foods being identified as having potential anti-cancer effects. As the number of cancers increases around the world, people are turning to food that can help minimize their chance of worsening the disease. With cardiovascular disease as one of the top causes of mortality worldwide, cardiovascular support through food has become an important component of the food as medicine market.

Limited awareness among individuals about food as a medicine

Limited awareness of food as a medicine approach is expected to hinder food as a medicine market growth. A large proportion of people are unaware of the health and environmental benefits of sustainably produced foods which prevent and cure a large number of illnesses. Because of this lack of awareness, producers fail to attract individuals who may otherwise be interested in healthier, organic, or environmentally friendly products. Without an adequate understanding of the benefits, customers choose conventional food products that they believe to be more familiar and affordable over food as a medicine approach.

Segment Analysis

The global food as a medicine market is segmented based on product type, form, application, distribution channel and region.

Medical Foods segment is expected to dominate the food as a medicine market share

The medical foods segment holds a major portion of the food as a medicine market share and is expected to continue to hold a significant portion of the food as a medicine market share during the forecast period. Medical foods differ from the broader category of foods for special dietary use in that they are intended to meet the unique nutritional requirements of a disease or condition, must be used under medical supervision, and are intended for the specific dietary management of a disease or condition.

The segment is expected to dominate the food as a medicine market share due to the increasing awareness among individuals about nutritional therapies rather than completely depending on drugs to cure the disease. A wide range of medical foods with different compositions and various applications are being introduced by the food as a medicine market players which are contributing to the segment expansion.

A large number of key players are adopting strategies to increase production capacity and expand their businesses which is expected to drive the segment's expansion. With these strategies, companies are expanding their portfolios and penetrating other regions, which is driving the segment's growth and is expected to hold the major share in the food as medicine market.

For instance, in September 2024, Dutch Medical Food B.V. made its official entry into the Indian market via a strategic relationship with Pristine Pearl Pharma Pvt. Ltd. This collaboration represents the introduction of an innovative line of products to treat disease-related malnutrition in both adult and pediatric populations. The latest offerings are primarily targeted at illnesses such as cancer, pediatric malnutrition, COPD, and drug-resistant epilepsy, to considerably improve health outcomes across India.

Similarly, in August 2024, Avesthagen Ltd and Apollo AyurVAID formed a strategic partnership to manufacture and market medical foods and dietary supplements. Following the collaboration, Avesthagen Ltd and Apollo AyurVAID will combine their skills and knowledge to design, manufacture, and market precision medical foods based on new tactics that improve patient care and promote holistic well-being.

Geographical Analysis

North America is expected to hold a significant position in the food as a medicine market share

North America holds a substantial position in the food as medicine market and is expected to hold most of the market share. This is due to the growing demand for foods and diet over medicine in the region with the increasing awareness among individuals. The increasing number of chronic diseases in the region is raising the demand for food-based therapies. There is a rising approach to food as a medicine that can be personalized.

The government bodies in the region are hosting summits and taking initiatives to increase awareness among individuals on food as medicine approaches. For instance, on January 31, 2024, the U.S. Department of Health and Human Services (HHS) hosted its first-ever Food is Medicine Summit in Washington, D.C., an all-day summit for stakeholders at the intersection between food and health. Secretary Xavier Becerra opened the summit by announcing three new public-private partnerships with Instacart, the Rockefeller Foundation, and Feeding America. All three partnerships will support HHS's nutrition goals.

Additionally, market players in the region are introducing advanced products of food as medicine and they are introducing new platforms to make the products available for all the individuals seeking these food-based treatments. These market players are expanding their businesses by adopting various strategies such as partnerships with each other and launching new products to make them meet the rising demand.

For instance, on August 26, 2024, Good Measures and Point32Health partnered to offer personalized nutrition support to members of Harvard Pilgrim Health Care, one of Point32Health's two insurance subsidiaries. The initiative provides nutrition counseling, food tracking, and other services through the Good Measures app, targeting conditions such as diabetes, heart disease, and obesity.

Similarly, on 16 Jul 2024, Season Health partnered with Mealogic at launch to deliver nutritionally tailored, culturally diverse meals to their patients. Mealogic has consistently provided low-cost, high-quality meals that have driven program adoption and delivered measurable clinical results nationwide.

There is an increasing shift and trend towards self-care through nutrition-based foods in the region which is also expected to contribute to the region's food as a medicine market share. Thus, with various strategies by the market players, increasing initiatives by the government bodies and the increasing incidence of chronic diseases, the food as a medicine market is expected to grow and the region is expected to dominate the global food as a medicine market share.

Market Segmentation

By Product Type

• Dietary Supplements
• Functional Foods and Beverages
• Medical Foods
• Whole Foods and Natural Foods

By Form

• Capsules
• Tablets
• Powders
• Liquid
• Bars

By Application

• Cardiovascular
• Anti-Aging
• Detoxification
• Nutritional Deficiency
• Diabetes
• Anti-Cancer
• Others

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• Drug Stores
• Supermarkets

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the food as a medicine market include Bionova, Nestle, Primus Pharmaceuticals, Inc., Season Health, Mead Johnson & Company, LLC., SFI Health, Metagenics, Meiji Holdings Co., Ltd., Bitewell and Mealogic among others.

Key Developments

• In April 2024, Vevolution, an Agrifoodtech investment platform, announced that it will organize a virtual pitch event themed "Food as Medicine". The sector is quickly gaining investment interest and encompasses areas like personalized nutrition, functional ingredients, sugar and salt alternatives, and microbiome health.
• In March 2023, Instacart Health introduced tools for scaling 'Food as Medicine' programs. Healthcare professionals can now use Instacart's suite of digital technologies to improve collaborative care, promote healthy choices, and provide nutritious food to patients and their families, especially those who live in food deserts or require a medically restricted diet.

Why Purchase the Report?

• To visualize the global food as a medicine market segmentation based on product type, form, application, distribution channel, and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of food as a medicine market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global food as a medicine market report would provide approximately 53 tables, 47 figures, and 176 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies