NAFED to contribute and promote ‘International Year of the Millet’ 2023 on global scale
The global market for medical nutrition, estimated at $27.2 billion in 2012 and forecast to be $28.8 billion in 2013, is further projected to reach $40.1 billion by 2018, thereby exhibiting a 2008-2018 CAGR of 5.8%, said an industry expert, a multi industry focussed market research firm, in its latest global market report ‘Medical Nutrition – A Global Market Overview’.
Medical nutrition product segments analysed in this study include infant, enteral and parenteral. The report also analyses the sub-segments of enteral medical nutrition comprising standardised, elemental/semi-elemental and specialised enteral nutrition.
The report noted that an increase in aging population, coupled with growing incidences of illnesses and a condition requiring medical nutrition products, has resulted in market growth for medical nutrition products. Another key factor driving the market is premature births because of insufficient nutrition to mothers, especially in Asia, in most populous countries such as China and India. However, medical nutrition products that contain probiotics and prebiotics, primarily targetted at the aging population, are witnessing unprecedented demand as against traditional medical nutrition products, opening the gates for a new market dominated by very few players.
The report reviews and analyses the worldwide market for medical nutrition products for global and regional markets including North America, Europe, Asia-Pacific, South America and rest of the world. The regional markets further analysed for 15 independent countries across North America – the United States, Canada and Mexico; Europe – Germany, France, the United Kingdom, Italy, Spain and Rest of Europe; Asia-Pacific – Japan, China, India, South Korea and Rest of Asia-Pacific; South America – Brazil, Argentina and Rest of South America.