PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1530881
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1530881
According to Stratistics MRC, the Global Health and Wellness Food Market is accounted for $1,118.54 billion in 2024 and is expected to reach $2,172.56 billion by 2030 growing at a CAGR of 11.7% during the forecast period. Health and wellness foods are those that contribute to overall well-being and promote optimal physical and mental health. These foods are typically characterized by their nutritional density, providing essential vitamins, minerals, and other beneficial compounds that support bodily functions and immune system strength. They often emphasize natural ingredients, minimal processing, and are free from artificial additives, preservatives, and excessive sugars or fats. Key components of health and wellness foods include whole grains, lean proteins, fruits, vegetables, nuts, seeds, and healthy fats like those found in olive oil or avocados.
According to Forbes, 54% of all consumers and 63% of those 50+ cared more about the healthfulness of their food and beverage choices in 2020 compared to 2010. According to Organic Trade Association (OTA), organic product sales in the US increased by 12.4% in 2020.
Rising incidence of lifestyle diseases
The rising incidence of lifestyle diseases, such as obesity, diabetes, and cardiovascular conditions, has spurred a significant increase in the demand for health and wellness foods. Consumers are becoming increasingly aware of the impact of their dietary choices on overall health, leading them to seek out products that offer nutritional benefits and promote well-being. Furthermore, health and wellness foods typically include items that are low in sugar, salt, and unhealthy fats, while being rich in essential nutrients like vitamins, minerals, and antioxidants.
Shorter shelf life for fresh products
The shorter shelf life of fresh products poses a significant challenge to the health and wellness food sector. First and foremost, this limitation impacts distribution logistics, making it harder to maintain consistent availability across various locations, particularly in areas without robust infrastructure for refrigeration or rapid transport. Retailers face higher risks of spoilage and waste, which can increase costs and reduce profit margins. From a consumer perspective, the perishability of fresh foods often requires more frequent shopping trips and careful storage practices, which can be inconvenient and less appealing compared to longer-lasting processed alternatives.
Rise in fitness and wellness trends
The rise in fitness and wellness trends has significantly influenced the health and wellness food sector, leading to a surge in demand for nutritious and functional foods. Consumers are increasingly prioritizing products that not only satisfy hunger but also contribute positively to their overall health and well-being. This shift is driven by a growing awareness of the impact of diet on health outcomes, prompting individuals to seek out foods that are rich in vitamins, minerals, antioxidants and other beneficial nutrients. Moreover, there is a notable preference for natural and organic ingredients, as well as products that cater to specific dietary needs such as gluten-free, keto-friendly or vegan options.
Regulatory challenges
The health and wellness food sector faces significant regulatory challenges that hinder its growth and innovation. These challenges typically arise from stringent regulations imposed by governmental bodies regarding product claims, ingredient sourcing, and health benefits. For instance, claims related to disease prevention or treatment often require extensive scientific evidence, which can be costly and time-consuming to obtain. Regulations surrounding food labeling, packaging, and marketing add additional layers of complexity, making it difficult for companies to communicate effectively with consumers about the health benefits of their products
The COVID-19 pandemic significantly influenced the health and wellness food sector. Heightened awareness of health and immunity drove a surge in demand for products perceived to boost immune function, such as vitamin supplements, herbal extracts, and fortified foods. Consumers became more conscious of their diets, prioritizing nutritious options and products with natural ingredients over processed foods. This shift in consumer behavior also saw a rise in online purchases of health foods and supplements, as people sought convenience and safety amid lockdowns and social distancing measures.
The Functional Foods segment is expected to be the largest during the forecast period
Functional Foods segment is expected to be the largest during the forecast period by integrating specific ingredients or components known to provide physiological benefits beyond basic nutrition. These foods are designed not just to satisfy hunger but to actively promote health and well-being. Examples include probiotic yogurts that support gut health, fortified cereals with added vitamins and minerals, and omega-3 enriched products that aid cardiovascular health. The growth of the functional foods segment underscores a shift in consumer preferences towards preventive health measures and holistic well-being.
The Gluten-Free segment is expected to have the highest CAGR during the forecast period
Gluten-Free segment is expected to have the highest CAGR during the forecast period by catering to a growing consumer demand for dietary choices that promote well-being and address health concerns. Gluten, a protein found in wheat, barley, and rye, can cause adverse reactions in individuals with gluten sensitivity or celiac disease, making gluten-free products essential for their diet. This segment extends beyond necessity-driven consumption, appealing to health-conscious consumers who perceive gluten-free foods as lighter, easier to digest, and potentially beneficial for weight management.
Asia Pacific region commanded the largest share of the market over the projected period, driven by a growing awareness of the importance of nutrition in maintaining quality of life and longevity. As people age, there is a heightened concern for managing chronic conditions and enhancing overall well-being, which has led to an increased demand for foods that promote health benefits such as improved immune function, cardiovascular health and cognitive function across the region. This demographic trend has created a lucrative market for products that offer functional ingredients like probiotics, omega-3 fatty acids, antioxidants, and vitamins tailored to address specific health concerns of older adults throughout the region.
Europe region is estimated to hold substantial growth during the extrapolated period due to proactive government initiatives and regulations. Authorities across the region have implemented policies aimed at promoting healthier dietary habits and improving public health outcomes across the region. This includes measures such as clearer nutritional labeling, restrictions on unhealthy ingredients like trans fats, and support for organic and locally sourced produce throughout the region. Moreover, governments have encouraged research and development in the health food industry, fostering innovation in areas such as functional foods and dietary supplements.
Key players in the market
Some of the key players in Health and Wellness Food market include Barilla Group, Coca-Cola Company, Eden Foods, Glanbia plc, Herbalife Nutrition Ltd, Kellogg Company, Nature's Bounty Co, Nestle SA, PepsiCo, Inc and Unilever.
In July 2023, Cleantech Solar and Kellogg Strengthen Partnership in Malaysia with 3.1 MWp Rooftop Solar PV System. As part of the partnership, Cleantech Solar has commissioned and installed the second phase of a rooftop solar PV system for Kellogg Asia Products Sdn. Bhd. at their manufacturing facility in Bandar Enstek, Malaysia.
In December 2022, Barilla Group, known for its Italian heritage and brands, is expanding its portfolio with the acquisition of the Back to Nature line from B&G Foods, a branded foods holding company out of Parsippany, N.J. With this addition, the Parma, Italy-headquartered Barilla Group will now offer a variety of plant-based, non-GMO snacks to U.S. retailers, including cookies, granola, nuts and trail mix products..
In May 2022, Oreo introduced a new line of gluten-free Oreos in the US, while Oreo Zero, Lacta Intense and Cara Milk were introduced in China, Brazil and Australia, respectively. These goods are the result of innovative formulas created for health-conscious consumers since the company continues to put a strong emphasis on health and well-being.
In May 2022, Nestle launched Jaggery-based Mishti Doi. The product has a characteristic caramelized jaggery flavor and is very creamy and silky. The classic mishti with gur has a unique flavor. The effort to provide the customers with this lovely experience is represented by Nestle a+ Mishti Doi with jaggery. Jaggery has a very rich texture in addition to its well-known healthiness, which enhances the flavor of the new Nestle a+ Mishti Doi.
In May 2021, PepsiCo launched Soulboost, a beneficial beverage made with sparkling water. There are two types of the product: Lift, which is meant to enhance mental acuity and Ease, which is meant to help relaxation.