Global Human Nutrition Market to Surpass USD 620.18 billion by 2031 Driven by Rising Middle Class Income

SkyQuest projects that the global human nutrition market will attain a value of USD 620.18 billion by 2031, with a CAGR of 6.3% during the forecast period (2024-2031). Rising middle class income in emerging markets is expected to drive the growth of the global human nutrition market. At the end of 2018, there were 679 million middle-class households in emerging markets, a figure that will expand by 2.7% by 2030. By comparison, middle-class households in developed countries number 176 million in 2018 and 6.3 % growth in 2030.

Westford, USA, Feb. 19, 2024 (GLOBE NEWSWIRE) -- The increasing incidence and prevalence of chronic diseases worldwide and increasing healthcare costs increased awareness of the global human nutrition market. Chronic diseases such as heart disease, cancer, diabetes, stroke and arthritis are on the rise, leaving more scope for highest market growth.

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Browse in-depth TOC of "Human Nutrition Market”

●       Pages - 157
●       Tables – 127
●       Figures – 76

Human nutrition products are gaining popularity among consumers, due to their nutritional and therapeutic potential. Increased consumer awareness of the health benefits associated with human nutrition throughout the world, such as benefits against acute and chronic nutrient-induced diseases to promote good health in the global human nutrition market.

Prominent Players of Global Human Nutrition Market

  • Nestle
  • Danone
  • General Mills
  • Kellogg's
  • Unilever
  • Abbott Laboratories
  • PepsiCo
  • Coca-Cola
  • GlaxoSmithKline
  • Herbalife
  • The Nature's Bounty Co.
  • Archer Daniels Midland
  • Royal DSM
  • Bayer Health Care AG
  • Lonza Group AG
  • Chr. Hansen Holding A/S
  • Kerry Group
  • Ajinomoto Co. Inc.

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Functional Food Segment to Dominate Market Owing to Increased Demand for Nutrient Dense Foods

The functional food segment is expected to account for the largest share of the global human nutrition market. A large part of this segment is attributed to changes in lifestyle and diet, increased demand for nutrient dense foods, increased spending on healthy and nutritious foods and consumer awareness of their health benefits increased self-esteem.

North America accounted for a notable share of the global human nutrition market and is expected to remain dominant. This is due to the increasing efficiency of distribution channels and as the US. Apart from being a marketplace as a manufacturing hub, the general demand for such nutrients is one of the factors driving the growth of the market in North America.

Probiotics Segment to Witness Significant Growth Owing to Increased Consumer Preference for Preventive Health Care

Probiotics dominated the global human nutrition market followed by proteins and vitamins. The market is pushed upwards due to increased consumer preference for preventive health care, and development of effective probiotic strains. Probiotics play an important role in preventive health by ingesting appropriate amounts and making an impact good on the body. Thus, increasing awareness of preventive healthcare is likely to propel the market growth throughout the forecast period.

However, Asia Pacific is expected to be the fastest growing global human nutrition market during the forecast period owing to increasing number of consumers in regions such as India, China, South Korea etc. Moreover, consumers in the region are giving them money spending has increased due to increase per capita income.

A comprehensive analysis of the major players in the global human nutrition market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.

Key Developments of Global Human Nutrition Market

  • In February 2022, BASF expanded the operations of its food enzyme plant in Ludwigshafen, further supporting the development programs of customers in the animal feed industry.
  • In March 2022, BASF globally increases the price of its Vitamin E products by 20% effective immediately. Price changes occur in response to significant increases in energy, raw material and logistics costs.

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Key Questions Answered in Global Human Nutrition Market Report

  • What specific growth drivers are projected to impact the market during the forecast period?
  • List the top companies in the market and explain how they have achieved their positions of influence.
  • In what ways do regional trends and patterns differ within the global market, and how do these differences shape the market's future growth?

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