Market analysis of food products for special medical purposes
DOI:
https://doi.org/10.31617/2.2024(50)04Keywords:
food products for special medical purposes, market volume, development trends, production, consumption.Abstract
Nutrition is considered to be one of the main factors ensuring vital activity. Its completeness and compliance with metabolic needs are especially important for people in emergencies. Therefore, consuming (using) food products for special medical purposes has become quite widespread. It has been established that this product market segment is showing stable growth at all levels. It is explained both by the general tendency to improve the conditions of treatment and recovery, the use of functionally oriented products, and the growing concern of the public about their own health as the result of the spread of the coronavirus infection COVID-19, and general trends towards increasing the average age of the world population. The last factor is especially relevant for the countries of Europe. It was analyzed that in 2023, the global market volume of food products for special medical purposes constituted more than USD 14 billion, and by 2030, it should have exceeded USD 19.5 billion with an average compound annual growth rate (CAGR) of nearly 5.8%. The main world producers of these products are international companies Nestle, Danone Nutricia, Abbott, Bayer, Mead Johnson, Lenus Pharma, Gruppo FarmaImpresa (GFI) and Galen Limited. It has been established that in 2023, the volume of the European market for the researched products exceeded the figure of USD 3.3 billion, and the average CAGR over the past 3 years was almost 5.6%. The state of the market for the studied products in Ukraine is insignificant, and makes up almost 0.1% of the global one. However, this market has significant prospects for growth in the case of an increase in the population’s income. It is forecasted that the main current trends in the market development will include the assortment diversification of such products, in particular, targeted at meeting the needs of representatives of aging groups and groups with various additional diseases. With regard to the Ukrainian market, there should be an additional focus on ensuring the domestic production of the analyzed products.
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