Newark, April 24, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the nutritional food market will grow from USD 5.61 billion in 2022 to USD 13.18 billion by 2032. The nutritional food market is witnessing an increase in demand due to the growth in the population of health-conscious consumers. With the increasing prevalence of chronic disease, many consumers are now consuming nutritional food.
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Key Insight of the Nutritional Food Market
North America region to account for the largest market size during the forecast period.
North America is expected to have the largest market share in the nutritional food market during the forecast period. The factors supporting the growth of the North American nutritional food market include the growth of the convenience food and beverages industry and the rising demand for sports nutrition and paediatric nutrition. The cases of chronic diseases have increased in regional countries, especially among the geriatric population. Countries like the U.S. and Canada are investing in the nutritional food industry to ensure the growth of a healthy population.
The protein segment is expected to augment the market during the forecast period.
The ingredient segment is divided into dietary fibres, minerals, prebiotics and probiotics, fatty acid, carotenoids, carbohydrates, anti-oxidants, protein and others. The protein segment is expected to augment the market during the forecast period. Protein is necessary for improving the overall health of consumers. Protein is necessary for improving bone health and preventing chronic disorders.
The plant-based products segment is expected to grow at the highest CAGR during the forecast period.
The product segment includes dairy products, plant-based products, meat products, bakery and cereals, oils and fats, and others. The plant-based products segment is expected to augment the market during the forecast period. The plant-based products include external protein sources to increase the health quotient of products. It also helps to reduce the probability of diseases caused by animal fats, such as heart disease, diabetes and hypertension.
The weight management segment will likely grow at the highest CAGR during the forecast period.
The application segment includes weight management, sports nutrition, digestive health, pediatric, clinical nutrition and others. The weight management segment will likely grow at the highest CAGR during the forecast period. Nutritional food is used for the management of weight among consumers. High protein diets offer some advantages for weight loss. Nutritional food is high in protein content and is thus preferred by health-conscious consumers.
The organic segment will likely grow at the highest CAGR during the forecast period.
The form segment includes organic and conventional. The organic segment will likely grow at the highest CAGR during the forecast period. Organic nutritional foods are in high demand, especially among the millennial population. Organic foods are free from preservatives and artificial additives, so consumers are now using such products.
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Market Dynamics
Driver: Increasing preference for nutritional food products and supplements
With growing health awareness, the inclination towards herbal products has increased. These nutritional supplements are believed to have minimal or no serious side effects. Also, many diseases can be treated at home with organic nutritional products. The use of nutritional supplements has increased in the recent decade, owing to the side effects of artificial supplements. Nutritional food products are considered to be beneficial for the digestive system. Also, the cholesterol level can be easily managed by regular consumption of nutritional food supplements. The demand for natural and organic products is rising, which has increased the market share of nutritional ingredient-made dietary products. It effectively reduces weight and thus is increasingly preferred by patients suffering from chronic conditions.
Restraint: Presence of counterfeit products
There are many counterfeit products available in the nutritional food market. A trademark or logo identical to or nearly identical to another company's brand is present on counterfeit nutritional items. They imitate the product's ingredients to pass for an actual offering from the brand owner. However, these ingredients can be harmful to consumers.
Opportunity: Increasing adoption of plant-based nutrients
Apart from the vegan population, a considerable section of society is increasingly adopting clean food, which does not consist of any allergen products. The increasing prevalence of chronic diseases has prompted consumers to opt for food products that contain a minimum amount of animal fat. The consumption of animal fat gives rise to various diseases that are life-threatening for humans. Also, people with certain medical conditions, such as lactose intolerant, prefer to avoid meat-based products. Plant-based food contains all the essential nutrients and is easy to digest too. This factor is propelling the growth of the nutritional food market.
Challenge: Stringent regulations for product launch
In sports nutrition, the paediatric and clinical nutrition industry has high barriers to entry due to the imposition of stringent regulations for product approval. The manufacturer of nutritional foods should adhere to such regulations. Also, with the rise in cases of food-borne diseases, many agencies have laid down stricter regulations to ensure the safety of consumers.
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Some of the major players operating in the nutritional food market are:
• Bayer AG
• DuPont
• Abbott
• Amway
• GSK plc.
• The Nature's Bounty Co.
• Nestlé
• Mead Johnson & Company, LLC.
• RiceBran Technologies
• Medifast, Inc.
• TOOTSI IMPEX Inc.
• Premier Nutrition Corporation
• Health Food Manufacturers' Association
• U.S. Spice Mills, Inc.
• NOW Foods
• Glanbia PLC
• Bionova
• Herbalife International of America, Inc.
Key Segments Cover in the Market:
By Ingredients:
• Dietary Fibers
• Minerals
• Prebiotics and Probiotics
• Fatty Acid
• Carotenoids
• Carbohydrates
• Anti-Oxidants
• Protein
• Others
By Product:
• Dairy Products
• Plant-based Products
• Meat Products
• Bakery and Cereals
• Oils and Fats
• Others
By Application:
• Weight Management
• Sports Nutrition
• Digestive Health
• Pediatric
• Clinical Nutrition
• Others
By Form:
• Organic
• Conventional
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed global, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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