Health and Wellness Food Market size is set to grow by USD 541.5 billion from 2024-2028, Increasing adoption of healthy eating habits to boost the market growth, Technavio

NEW YORK, June 10, 2024 /PRNewswire/ -- The global health and wellness food market  size is estimated to grow by USD 541.5 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  9.27%  during the forecast period. Increasing adoption of healthy eating habits is driving market growth, with a trend towards adoption of prebiotic and probiotic food. However, high cost of health and wellness food  poses a challenge. Key market players include Amys Kitchen Inc., Archer Daniels Midland Co., Bobs Red Mill Natural Foods Inc., Chobani Global Holdings LLC, Clif Bar and Co., Dairy Farmers of America Inc., Danone SA, Dr. Schar, Fifty50 Foods, General Mills Inc., Glanbia plc, GlaxoSmithKline Plc, Kellogg Co., London Foods Ltd., Mars Inc., Mondelez International Inc., Nestle SA, PepsiCo Inc., United Natural Foods Inc., and Yakult Honsha Co. Ltd..

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Key Market Trends Fueling Growth

The health and wellness food market is experiencing significant growth due to the increasing consumer awareness and demand for prebiotic and probiotic food products. Prebiotics, such as Quakers oats from Nestle, are nondigestible substances that reach the large colon undigested, promoting the growth of beneficial bacteria for improved digestion and overall health.

Probiotics, like yogurt, provide live beneficial bacteria and offer benefits such as a strong immune system, improved digestion, and heart health. With millions of Americans suffering from digestive issues, companies like Danone and Yakult are responding by offering probiotic drinks to aid in digestion and reduce the risk of diseases. This trend is expected to continue driving market growth during the forecast period. 

The food market is seeing a significant trend towards health and natural ingredients. Foods rich in fiber, such as nuts and fruits, are popular choices. Proteins from sources like eggs, meat, and probiotics are also in demand. Superfoods like quinoa and sourcing are gaining popularity.

Gluten-free and low-carb options are preferred by many consumers. Herbal supplements and functional beverages are also trending. Dietary supplements like vitamins and minerals are widely used. Sustainability and ethical sourcing are important considerations for consumers. Organic and locally grown produce are preferred. The market for functional foods and beverages is expected to grow further. 

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Market Challenges

• The health and wellness food market is characterized by higher prices compared to processed food due to labor-intensive and organic farming methods. Gluten-free food and organic products cost significantly more, with organic crops costing around 60% more. Producers incur additional expenses for certification fees and modifications to comply with organic standards, which are then passed on to consumers. These higher prices limit market growth.
• The Health and Wellness Food Market faces several challenges. Dietary restrictions such as gluten-free, vegan, and organic are becoming more common. Sourcing and supplying these specialized foods can be difficult. Supermarkets and online retailers must offer a wide range of options to cater to diverse consumer needs. Sustainability is also a concern.
• Consumers want to know where their food comes from and how it's produced. Labeling and transparency are crucial. Competition is fierce, with many players vying for market share. Pricing and profitability are challenges. However, the market is growing, driven by consumer demand for healthier, more natural food options. Retailers who can meet these demands will thrive.

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Segment Overview 

1. Product 
• 1.1 Naturally health food
• 1.2 Functional food
• 1.3 BFY food
• 1.4 Organic food
• 1.5 Food intolerance products
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Geography 
• 3.1 North America
• 3.2 APAC
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Naturally health food-  The Health and Wellness Food Market is thriving, with consumers prioritizing nutritious meals. Supermarkets and online retailers stock a wide range of products, including fresh fruits and vegetables, lean proteins, and whole grains. Healthy snacks, such as nuts and seeds, are also popular choices. Brands focus on clear labeling and transparent ingredient lists to meet customer demands. This market continues to grow, offering various options to cater to diverse dietary needs and preferences.

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Research Analysis

The Health and Wellness Food Market encompasses a wide range of organic and natural food products. These include items made with gluten-free, non-GMO ingredients, probiotics, antioxidants, superfoods, and whole grains. Plant-based, vegan, and vegetarian options, as well as dairy-free and sugar-free alternatives, are also popular choices. Low-carb and high-protein foods, omega-3 rich sources, fiber-rich ingredients, and functional foods are sought after for their health benefits.

Nutraceuticals, herbal supplements, and dietary supplements are often incorporated into daily routines for additional nutritional support. Clean label, cold-pressed, and fermented foods are preferred for their transparency and raw foods offer unprocessed goodness. Prebiotics and adaptogens are emerging trends in this market, while organic beverages and natural sweeteners, as well as low-glycemic options, cater to various dietary needs.

Market Research Overview

The Health and Wellness Food Market encompasses a variety of products designed to promote optimal health and nutrition. These include functional foods, fortified foods, and dietary supplements. Organic and natural ingredients are increasingly preferred, with a focus on fruits, vegetables, grains, and proteins.

Gluten-free, low-sodium, and sugar-free options are also popular. Superfoods, such as chia seeds and kale, are sought after for their high nutrient content. Probiotics and prebiotics are essential components, supporting gut health and immunity. Sustainability and ethical production practices are key considerations for consumers. The market is driven by growing awareness of the link between diet and health, as well as increasing health concerns and lifestyle trends.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Naturally Health Food
• Functional Food
• BFY Food
• Organic Food
• Food Intolerance Products
• Distribution Channel
• Offline
• Online
• Geography
• North America
• APAC
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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