Health & Wellness Foods Market – Industry Structure Evaluation, Demand Drivers Analysis, Regional Growth Analysis and Identification, Competitive Positioning Review & Global Market Size Forecast to 2030
Overview
Health & Wellness Foods Market size was valued at US$ 0.88 Bn. in 2023 and the total revenue is expected to grow at 9.10% through 2024 to 2030, reaching nearly US$ 1.62 Bn.
Health & Wellness Foods Market Overview:
The global health & wellness foods market is expected to grow at a CAGR of 9.10% during the forecast period. The market size of the global health and wellness foods was valued at US$ 0.88 Billion in 2023 and it is expected to reach US$ 1.62 Bn by 2030.
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Health & Wellness foods market helps to improve overall health, provides better nutrition/vitamins/energy-based foods, reduces stress, tension. Due to COVID-19 consumers are rapidly shifting towards healthy foods such as organic foods, natural foods. Growing hectic lifestyles, increasing pollution, rising ill effects have resulted in the shift towards healthy foods. COVID-19 has shifted the demand for healthy goods, immunity based products among consumers and every eight in 10 consumers changed their eating/diet plans.
Health & Wellness Foods Market Dynamics:
The increasing trend of eating healthy and natural foods is the primary driving factor for the global health and wellness foods market. Increasing awareness regarding naturally healthy foods which are a rich source of vitamins, fiber, antioxidants and nutrition’s is driving the market. The demand for natural foods such as herbal tea, green tea, honey, olive live, fresh fruits & vegetables apples, nuts & seeds has been increasing since last year due to covid-19. Also rising consumption of organic foods such as cabbage, eggplants, apple, grapes, organic milk and yogurt has driven the global health and wellness market.
High costs and fluctuations in prices of health and wellness foods are the restraint for market growth. There are also high availability of low-cost healthy foods and provides fat, salt, sugar which might hamper the market growth.
Increasing awareness regarding health & wellness foods and increasing R&D activities and new product development activities are the opportunity. Product innovation will bring new opportunities in the health and wellness market and could enhance demand for products. Increasing consumption of functional foods could bring more opportunities for the health & wellness market.
Key Trends-
Rising usage of plant-based diets is the new trend of the health and wellness foods market owing to increasing health-conscious consumers and they prefer plant-based foods. Increasing consumption of healthy snacks foods such as raw vegetables, hard-cooked eggs, and nutritional bars is the new trend of the health and wellness market. Gluten-free foods are also the trend of the health and wellness foods market. Product packaging and the natural and clean product is growing as per consumer demand.
Health & Wellness Foods Market Segment Analysis:
The global market is segmented into main two types by-product natural foods, functional foods, and better-for-you, organic foods.
Based on Product, the global health & foods wellness market is divided into main four type’s naturally healthy foods, functional foods, and better-for-you, organic foods.
The organic foods segment was held the largest market share of 30% in 2023 as it improves overall health, provides better taste, a rich source of antioxidants/minerals, and boosts the immune system. The global organic food market is expected to grow at a CAGR of 6.0% and reach USD 450.0 Bn. during the forecast period. The growing demand for organic fruits & vegetables, meats & dairy, baby foods has resulted from the fastest growth in the market. Rising the preference towards organic foods sales was increased by 25% in 2023. The functional food segment is expected to grow at a CAGR of 6.0% by 2030. The functional foods segment holds 20% of the market share in the global health & wellness market.
Naturally healthy foods segments is expected to grow at a CAGR of 6.2% and reach USD 400 Bn. during the forecast period. Naturally healthy foods are completely unprocessed and provide high fiber, vitamins, potassium.
The better-for-you segment is expected to grow at a CAGR of 4.0% and reach USD 200 Bn. during the forecast period.
Based on Distribution Channel, the global health & wellness foods market is divided in main two type’s store-based retail, online retail.
The store-based distribution channel (Hypermarket/Supermarket) holds the highest market share of xx% in 2023. The store-based retail distribution channel is growing because of the expansion of hypermarkets/supermarkets in entire the world, easy access to products, a wide range of products in an attractive way, provides discounts/offers etc.
However, the online retail segment is expected to grow faster than store-based during the forecast period.
Health & Wellness Foods Market Regional Insights:
In 2023, North America is dominating the largest market share of 30% of the health and wellness market, followed by Europe. The United States is expected to reach USD 290.0 Bn. in 2023. While China is expected to grow at a CAGR of 7.0% and reach USD 130.0 Bn. during the forecast period. Other important regions Japan & Canada are expected to grow at a CAGR of 4.5% and 6.0% respectively during the forecast period.
Recent Developments:
In 2020, Nestle made 190 Bn. Servings of fortified foods globally and rose to challenge to serve communities impacted by pandemics.
In 2019, Farmi Piimatoostus Ltd. an Estonian dairy company launched fermented buttermilk with strawberries. Its features are vitamin B6 and B12 which boost the immune system.
The objective of the report is to present a comprehensive analysis of the global market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global market dynamics, structure by analyzing the market segments and project the global market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global market make the report investor’s guide.
Health & Wellness Foods Market Scope: Inquire before buying
| Global Health & Wellness Foods Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | US $ 0.88 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 9.1% | Market Size in 2030: | US $ 1.62 Bn. |
| Segments Covered: | by Product | Naturally Health Food Functional Food Better-For-You Organic Food |
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| by Distribution Channel | Store-Based Retail Online Retail |
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| by Calorie Content | No calorie Low calories Reduced calorie |
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| by Nature | Non-GMO GMO |
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| by Fat Content | No fat Low fat Reduced-fat |
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Health & Wellness Foods Market, by Region:
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players:
1.Archer Daniels Midland Co.
2.Danone SA
3.Dean Foods
4.Mondelez Global LLC
5.General Mills
6.Glaxo SmithKline PLC.
7.Kellogg Co.
8.Nestle SA
9.PepsiCo Inc.
10.Yakult Honsha Co. Ltd.
11.Abbott Laboratories
12.Albert’s Organic
13.Aleias Gluten free food
14.Amy’s kitchen
15.Arla food
16.Blue diamond Growers
Frequently Asked Questions:
1. Which region has the largest share in Global Health & Wellness Foods Market?
Ans: North America region holds the highest share in 2023.
2. What is the growth rate of Global Health & Wellness Foods Market?
Ans: The Global market is growing at a CAGR of 9.1% during forecasting period 2024-2030.
3. What is scope of the Global Health & Wellness Foods market report?
Ans: Global market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Health & Wellness Foods market?
Ans: The important key players in the Global market are –
Archer Daniels Midland Co.,Danone SA,Dean Foods,Mondelez Global LLC,General Mills,Glaxo SmithKline PLC.,Kellogg Co.,Nestle SA,PepsiCo Inc.,Yakult Honsha Co. Ltd.,Abbott Laboratories,Albert’s Organic,Aleias Gluten free food,Amy’s kitchen,Arla food,Blue diamond Growers.
5. What is the study period of this market?
Ans: The Global market is studied from 2023 to 2030.