中国特殊膳食用食品行业：今天，我们如何“吃点好的”？

Investment Rating - The report indicates a positive outlook for the China Special Dietary Food industry, driven by increasing health awareness and consumption upgrades, with specific growth potential in segments like medical foods and infant nutrition [2][4]. Core Insights - The market for special dietary foods in China is expanding due to rising health consciousness, consumption upgrades, and the explosion of precise nutritional needs. Key segments include infant formula, medical foods, and sports nutrition, all showing significant growth potential [2][3]. - The industry is expected to benefit from technological innovations, including the development of new raw materials and personalized formulations, as well as improvements in production processes [2][4]. - The aging population and increasing clinical nutrition demands will further drive the growth of medical foods, which are anticipated to see rapid expansion in the coming years [4][37]. Chapter Summaries Chapter 1: Overview of the China Special Dietary Food Industry - Special dietary foods are defined as products specifically processed or formulated to meet special dietary needs due to physical or physiological conditions [19]. - Infant products, including infant formula and complementary foods, are a significant branch of special dietary foods, with strong growth potential supported by policy changes [20][21]. Chapter 2: Market Size Analysis of the China Special Dietary Food Industry - The demand for special dietary foods is in a golden development period, supported by rising disposable income and decreasing Engel's coefficient, leading to increased consumer spending on health-related products [35]. - Despite a declining birth rate, the infant complementary food market shows resilience, driven by policy support and consumer awareness [36]. - The medical food market is entering a rapid development phase, with increasing recognition of the importance of nutritional support for chronic disease management [37][51]. Chapter 3: Industry Chain of the China Special Dietary Food Industry - The fluctuation of raw material prices, particularly for traditional Chinese medicine and vitamins, is prompting midstream companies to adopt strategies for raw material diversification [66].