Market Size
The Global Nutritional Food Market reached USD 5.1 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 9.7 billion by 2030. The market is expected to exhibit a CAGR of 8.5% during the forecast period (2024-2031). Foods that are nutritional are low in sodium, added sugars, and saturated fat and high in vitamins, minerals, and other essential nutrients for health.
Nutrition is the physiological and biochemical process through which an organism uses food to sustain its life. Low salt, bad fats, sugar, and carbohydrates are common characteristics of nutrient-rich diets. They are also rich in vitamins and minerals.
Consumer health awareness is increasing, which has greatly boosted the nutritional food market's ability to prosper. People are now more aware of the effects of living an unhealthy lifestyle due to the pandemic. The global nutritional food market growth has been boosted by the rising demand for phytochemicals, functional foods, dietary supplements, nutraceuticals, and supplements that increase immunity.
Market Scope
| Metrics | Details |
| CAGR | 8.5% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (USD ) |
| Segments Covered | Product, Ingredients, Application, Distribution Channel, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Demand for Sports Nutrition is Growing, which is Driving the Market Growth.
The majority of consumers shifting attention to health and fitness has led to an increase in sports nutrition. Professional sportsmen and fitness enthusiasts are using social media platforms and sponsorships to encourage individuals to maintain a healthy lifestyle, which is increasing the demand for nutritional foods across the world.
People are turning to sports and eating foods with sports nutrition as the world population is becoming more and more afflicted with illnesses like diabetes, obesity, and cardiovascular ailments. As a result, this component spurs nutritional food market expansion during the forecast period of 2024-2031.
Malnutrition is Becoming More Prevalent, Which is Driving the Nutritional Food Market Opportunities.
In 2021, there were 828 million individuals who suffered hunger, up from 150 million in 2019. In 2021, the number of people who suffer from hunger increased and reached 9.8% of the global population. The prevalence of malnutrition is rising, which is driving the adoption of nutrient-dense foods that will assist people's health. As a result, this aspect is enhancing nutritional food market expansion.
Rigid Regulatory Approvals is Preventing the Market From Expanding.
The market's expansion is being hampered by the demanding regulatory authorization. All products must go through a rigorous approval process from several national agencies that evaluate the ingredients' safety and efficacy before being put on the market by the manufacturer of the finished product. The procedure calls for extensive testing with minute-to-large-scale complete observations, which takes time and demands complexity.
Several countries have strict regulations governing advertising and product labelling, preventing the industry from growing. In order to regulate the market, the Nutrition Labelling and Education Act (NLEA), which updated the FD&C Act, requires that most foods be labelled with nutrition information and that food labels containing claims about the nutrient content of certain foods and certain health messages fulfil certain requirements.
Market Segment Analysis
The global nutritional food market is segmented based on product, ingredients, application, distribution channel, and region.
In the Global Market of Nutritional Food, the Vitamins and Minerals Segment Holds the Largest Market Share.
The global nutritional food market has been segmented by ingredients into antioxidants, carotenoids, fibres and whole grains, omega-3 fatty acids, vitamins and minerals, , prebiotics and probiotics, proteins, and others. The vitamins and minerals segment held the largest nutritional food market share of 29.6% in 2022 in the nutritional food market analysis report.
Vitamin A, also known as retinols and carotenoids, vitamin B, also known as folic acid, vitamin C, popularly known as ascorbic acid, and vitamin D, also known as cholecalciferol, are just a few of the vital elements that come in a variety of forms. Demand for functional foods containing vitamins has increased as a result of consumer awareness in the connection between nutrition and health.
Source: DataM Intelligence Analysis (2023)
Market Geographical Share
The North America Held the Largest Share in Nutritional Food Market.
The North America nutritional food market held the largest market share of 38.4% in 2022 in the nutritional food market analysis. The growth in the region is ascribed to Americans', Mexicans', and Canadians' increased interest in fitness, which is expected to boost demand for functional foods and beverages.
Furthermore, during the forecast years of 2023-2030, there will likely be a rise in demand for nutritional foods in North America due to the millennial generation's increasing preference for protein bars, shakes, and cookies as healthy snack options.
Source: DataM Intelligence Analysis (2023)
Market Companies
The major global players in the market include Medifast Inc., Bayer AG, Abbott, DuPont, Amway, The Nature's Bounty Co., GSK plc., Nestlé S.A, RiceBran Technologies, and Mead Johnson & Company, LLC.
COVID-19 Impact on Nutritional Food Market
Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
Covid-19 Impact:
The global nutritional food market was directly and negatively impacted by the COVID-19 outbreak. The distribution channels were badly impacted by lockdowns to stop and contain the outbreak. Disrupted distribution channels have an impact on value-adding operations by reducing the marketability of finished goods.
Concerns about one's health, desire to be informed about information from others, and intention to consume superfoods and nutritious foods are all significantly influenced by COVID-19 viral anxiety. On the intention to consume nutritious foods, the mediating effects of health consciousness and eWOM (Electronic Word of Mouth) were also seen.
When consumers accept the source of the eWOM information, the fear of the COVID-19 virus and their concern for their health act as strong motivators for buying nutritious foods, which has increased the demand for nutritional foods post covid-19.
Key Developments
- In February 2021, Haldiram's, a provider of food and snacks, entered the market for nourishing and nutritious foods through a collaboration with Futurelife, a producer of wholesome foods in South Africa. These four products—Smart Foods, Smart Oats and Ancient Grains, Crunchy Granola, and High Protein—have been introduced by both companies.
- In January 2023, at an event that was attended by scientific council members from fit council, Superfoods Valley, a nutrition and food-tech firm with headquarters in Bangalore, unveiled its flagship product, Good Monk, a unique nutrition mix. The company also announced a new app that aids in user education and fosters transparency regarding the nutritional content of the food consumers eat.
- In March 2023, a pioneer in the plant-based beverage industry, Life Health Foods (India) Pvt. Ltd., introduced their new vegan beverage, So Good Oat Unsweetened beverage, a plant-based milk that is free of dairy. The brand's new delectable So Good Oat beverage fulfills its promise to provide a nutritious and adaptable beverage manufactured right here in India that gives your coffee, tea, baking, and smoothies an outstanding taste and creaminess.
Why Purchase the Report?
- To visualize the global nutritional food market segmentation based on product, ingredients, application, distribution channel, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities in the market by analyzing trends and co-development.
- Excel data sheet with numerous data points of nutritional food market-level with all segments.
- The PDF report consists of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study.
- Product mapping is available as Excel consists of key products of all the major market players.
The global nutritional food market report would provide approximately 93 tables, 109 figures and 190 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
