Health and Wellness Foods Market
Health and Wellness Foods Market Forecast Analysis, By Product Type (Naturally Healthy Foods, Functional Foods, Better-For-You (BFY) Foods, Organic Foods, Food Intolerance Products), By Distribution Channel (Retail, Online), & By Region - Global Market Insights 2022-2032
Analysis of Health and Wellness Foods Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Health and Wellness Foods Market Outlook (2022-2032)
The global health and wellness foods market was valued at US$ 825 billion in 2022 and is estimated to reach a value of US$ 1,495 billion by 2032, growing at a CAGR of 6.1%.
Wellness, health, and food are interconnected. The quality of the food products that we consume daily has a direct impact on our health. In addition, the source of food products has also been estimated to have a direct connection with our health and fitness.
The stem of wellness comes from the balanced diet that we include in our daily life. Further, health is not about eating better food products only but is also about reducing the level of stress and tension along with exercising on daily basis. Well-being, health, and food are helpful to reduce the risk of different diseases and further improve mental and physical performance while including functional elements.
The opportunities in the health and wellness food market are growing faster compared to growth avenues in the packaged food industry. This is due to a shift in consumer tastes for more functional and natural offerings to adopting a holistic approach to an individual’s balanced diet. In recent years, people have made alterations in their eating habits. They embrace an active lifestyle and a balanced nutritional diet.
There is increasing awareness related to the importance of a healthy diet, regular physical activity, and exercise. A rapid growth in the consumption of organic food products that are made from natural ingredients instead of inorganic food products is anticipated to open up new opportunities for the expansion of the market for health and wellness foods.
On the flip side, the high prices of wellness and healthy foods, including weight management packaged foods, are predicted to limit the adoption of these wellness foods. In addition, the high maintenance costs of these nutritious foods for good health are also estimated to hamper growth opportunities in the global market. Moreover, high competition among industry players is likely to restrict sales of health and wellness foods.
Report Attributes |
Details |
---|---|
Market Size (2022) |
US$ 825 Billion |
Estimated Market Value (2032) |
US$ 1,495 Billion |
Anticipated Growth Rate of Global Market (2022- 2032 |
6.1% CAGR |
Market Share of the European Region (2032) |
33% |
Germany Market Growth Rate (2022-2032) |
4.4% CAGR |
Key Companies Profiled |
|
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Why are We Seeing Increased Sales of Health and Wellness Foods?
“Growing Demand for Protein-based Nutritional Food & Beverages”
In recent years, owing to rising health consciousness, the demand for healthy and protein-based food and beverages are increasing. In addition, people are giving preference to food products that have high nutritional values and provide various health benefits. These nutrients are helpful for individuals to maintain a healthy diet.
Protein-based beverages provide nourishment as they contain a high amount of beneficial nutrients. These nutrients are helpful to bolster energy and further nourish the human body to a greater extent. Further, rising awareness about the capability of protein to help maintain weight and increase metabolism is likely to propel the demand for protein-based nutritional and healthy food.
Thus, the abovementioned drivers are likely to open up new avenues for companies in the health and wellness foods market.
“Increasing Demand for Clean-Label Food across Regions”
The clean label food products generally contain ingredients that are comparatively less processed and are most natural. In recent years, people have been opting for clean and healthy food options to lead a healthier lifestyle, and thus, there increased demand for health and wellness food products.
People are inclined to use cleanly labeled food that is free from additives or preservatives to continue living a healthier and more energetic lifestyle. Furthermore, awareness about the promotion of a sustainable environment with the use of clean-label products is likely to boost the growth of the health and wellness food market.
The manufacturers from the wellness food industry are making efforts to introduce more new products that come with more natural ingredients and fewer processed ingredients. Thus, the rising number of manufacturers introducing clean-label products ensures the market availability of healthy food products.
“Changing Lifestyles and Eating Habits of Millennials Leading to Higher Consumption of Healthy & Fresh Food”
The changing eating habits of millennials are inclined toward conscious indulgence. It means, when people indulge themselves in eating out, they also consider the fact of eating right. They want to become mindful about their eating and selection of their places after considering different aspects.
Millennials are ready to pay an additional amount for healthy and fresh food. They love flavors and food from multiple cultures and further engage themselves in distribution channels such as smooth deliveries and meal services. So, constant changes in the eating habits of millennials are likely to generate demand for wellness food.
What’s Estimated to Adversely Impact the Availability of Health and Wellness Foods?
“Inability of Manufacturers to Match Regulations on Fortified Food & Beverages”
Governing bodies have applied various regulations to fortified food & beverages to avoid adulteration and maintain consumer transparency. Consumers can understand the micronutrient and nutrient content of fortified food & beverages due to the application of different labeling, claims, and some other laws.
Further, these strict regulations are helpful for people to get insight into the products they consume regularly. Sometimes, there are situations, when manufacturers are unable to fulfill the required rules and regulations, that can have a direct impact on the market availability of the respective products. Thus, these factors are expected to hamper the expansion opportunities in the health and wellness food market.
How Can Start-ups Generate Growth Opportunities in This Industry?
“Integration of Modern Technology with Mental & Physical Wellness”
There are a lot of people around the world, who are prioritizing health and wellness. This factor leads to the generation of exponential growth avenues in the industry.
Innovators are making efforts to find new methods to integrate model technology with mental and physical wellness. In addition, efforts are also made to fill the gaps and make industry solutions more accessible to individuals. Considering these factors, startups are likely to create exciting growth opportunities in the coming years.
For instance :
- Wellory was established in 2019 in New York. It is a personal wellness and diet startup that focuses on making nutrition coaching accessible to individuals around the world. In addition, their application also connects users to respective nutrition coaches who provide feedback as well as guidance for the adoption of healthier eating habits.
Recently, the startup raised more than US$ 4.3 million in seed funding, led by Story Ventures, Harlem Capital, Ground Up Ventures, and some other high-profile investors.
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Which Regional Market Holds a Dominating Position in the Demand for Clean Label Food?
“Rising Demand for Nutritional & Fortified Food Products by North Americans”
North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America are the key regional areas in which the market of health and wellness foods is spread. Among these, the North American market is anticipated to dominate the global market due to the increasing consumption of healthy foods by the regional population.
The market of Asia Pacific is likely to grow at a noticeable speed because of the easy availability of necessary raw materials that are used to prepare a healthy diet. In addition, the growing demand for nutritious food for good health is predicted to bolster sales of the products in the years to come.
Country-wise Insights
Why Does Germany Hold a Leading Position in the European Market?
“High Preference for Organic Food in Germany”
The European market is predicted to account for more than 33% of the share of the industry by the end of 2032. The market in Germany is likely to progress at a CAGR of 4.4% through 2032. This growth in the market is owing to a rising preference for organic food compared to inorganic food items.
Further, France and the UK are estimated to grow at a noticeable speed during the forecast period due to the increasing promotion of health and well-being by governing bodies there. These markets are anticipated to expand at a significant speed than those in other areas.
What is the Future of the Wellness Food Industry in North America?
“Growing Consciousness about Healthy & Nutritional Food Products in Canada”
The market of North America is projected to grow at a significant speed in the coming years due to rapid growth in the food & beverage industry. Further, the increasing demand for nutritional and healthy food products by the regional population is also predicted to boost their sales. The growing number of health-conscious people in the regional countries is also likely to boost sales of wellness food there.
The market of health and wellness foods in Canada is anticipated to progress at a CAGR of 5.9% through 2032.
Why are Japan and South Korea Strong Pillars for the Asia Pacific Market?
“Increasing Demand for Protein-based Nutritional Food Products in Japan”
The market of Japan is projected to progress at a CAGR of 4.3% through 2032. This growth in the market is attributed to the growing demand for protein-based nutritional food products. In addition, the growing disposable income of people further leads to increasing expenditure on healthy food products.
South Korea, India, and Australia are the prominent countries in the Asia Pacific region that are also likely to experience noticeable growth opportunities in the industry.
Category-wise Insights
Why is There Increased Demand for Natural Food Products in the Global Market?
“Increasing Consumption of Natural Food Owing to their Health Advantages”
Based on product type, the industry is divided into naturally healthy foods, functional foods, Better-For-You (BFY), organic foods, and food intolerance products. These naturally healthy foods are predicted to increase their share in the global industry.
In the past few years, there has been a significant increase in the consumption of natural foods due to their health advantages, which has further bolstered demand for health and wellness energy foods. Thus, rising demand for these food products is expected to attract more vendors to start new ventures.
Why do People Prefer Retail Distribution Channels?
“Rapid Expansion of Supermarkets Stimulating Sales of Nutritious Foods through Retail Platforms“
Based on distribution channels, the market is classified into retail and online. Between these two types, retail channels are likely to hold the largest share in the industry due to the significant expansion of supermarkets and hypermarkets around the world.
The wide product range in an attractive way, easy access to products, and availability of offers/discounts are some key factors that are likely to attract a larger number of people to these retail stores. However, online platforms are predicted to grow at a rapid rate compared to retail stores in the forecasted period.
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Competitive Landscape
The market for health and wellness foods is highly fragmented in nature. The industry vendors are deploying many organic and inorganic strategies to gain a competitive edge in the market.
Increasing market competition is compelling vendors to adopt numerous growth strategies, for instance, increased spending on advertisements and promotional activities to improve the visibility of their products. Some other vendors are incorporating inorganic strategies, for instance, mergers and acquisitions, to remain competitive in the industry.
For instance :
- Oreo in May 2020 launched a new range of Oreos that are gluten-free in the United States, Lacta Intense in Brazil, Oreo Zero in China, and Caramilk, which is a chocolate product in Australia. Further, these products result in increasing the health consciousness of people for well-being. In addition, health continues to become a focal point for innovation in the company.
Key players in the health and wellness foods industry are Abbott Laboratories, Bob’s Red Mill Natural Foods, Amy’s Kitchen, UNFI, Procter & Gamble Company, EVOLVE Brands LLC, and Nestle SA
Segmentation of Health and Wellness Foods Industry Research
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By Product :
- Naturally Healthy Foods
- Functional Foods
- Better-For-You (BFY)
- Organic Foods
- Food Intolerance Products
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By Distribution Channel :
- Retail
- Online
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By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- FAQs -
What is the valuation of the health and wellness foods market in 2022?
The global health and wellness foods market stands at US$ 825 billion in 2022.
What is the projected growth rate for the market in Germany?
The market of Germany is likely to progress at a CAGR of 4.4% through 2032.
At what CAGR is the health and wellness foods industry likely to expand?
Sales of health and wellness foods are likely to increase at a CAGR of 6.1% through 2032.
What is the predicted share of the European region in the global industry?
The European market is estimated to hold a significant share of 33% by 2032-end.
What is the anticipated valuation of the health and wellness foods industry by 2032?
The health and wellness foods market is expected to reach a value of US$ 1495 billion by the end of 2032.
Which key players are operating in the global market?
Key suppliers of health and wellness foods are Abbott Laboratories, Bob’s Red Mill Natural Foods, Amy’s Kitchen, UNFI, Procter & Gamble Company, EVOLVE Brands LLC, and Nestle SA.