Global Market for Health and Wellness Foods
Dublin, May 26, 2022 (GLOBE NEWSWIRE) -- The "Health and Wellness Foods - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Growth in the global health and wellness foods market is being fueled by rising focus on healthy eating, growing popularity of organic foods, and increasing sensitivities to foods.
Trends such as organic, range-fed, low carbohydrates, dairy-free, and gluten-free are all by-products of consumers` drive towards a healthier lifestyle. In addition, recent outbreaks of health scares, including the COVID-19 pandemic have popularized the consumption of healthy foods to improve immune responses. The increasing availability of natural and organic foods in regular stores, as opposed to the availability in specialty stores, is also driving the market. In addition, the establishment of standard procedures for natural, organic, and health benefit certification are also aiding in the development of a large number of products, thus driving market growth.
Focus on health and wellness food products is also rising due to increasing obesity levels and rising incidence of chronic illnesses such as asthma, diabetes, and blood pressure, among various others in both developed and developing countries. Naturally healthy foods are known to play a vital role in the prevention and treatment of several medical conditions.
Amid the COVID-19 crisis, the global market for Health and Wellness Foods estimated at US$733.1 Billion in the year 2020, is projected to reach a revised size of US$1 Trillion by 2026, growing at a CAGR of 6% over the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Functional Foods segment is readjusted to a revised 6.3% CAGR for the next 7-year period. This segment currently accounts for a 20.4% share of the global Health and Wellness Foods market.
Growth in the global market for naturally healthy foods is being fueled by the increasing consumer focus on health and wellness and rising consumer awareness about the health benefits offered by such foods. The booming functional foods and drinks sector is attributable to rising health consciousness and the shift towards preventive medicine.
The Health and Wellness Foods market in the U.S. is estimated at US$279.1 Billion in the year 2021. The country currently accounts for a 35.33% share in the global market. China is forecast to reach an estimated market size of US$124.6 Billion in the year 2026 trailing a CAGR of 8.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 5.8% respectively over the analysis period.
Within Europe, Germany is forecast to grow at approximately 4.3% CAGR while Rest of European market will reach US$133.2 Billion by the end of the analysis period. Developed markets such as North America and Europe dominate market growth. Health and wellness foods are inherently premium products, and the higher disposable incomes in developed markets of North America and Europe, as well as the higher consumer awareness in such markets have resulted in the larger shares of these regions. Developing markets in Asia-Pacific such as China and India hold the highest growth potential, owing to the growing awareness and increasing disposable incomes in the markets.
Better-for-you products are especially gaining prominence due to their positive health benefits. Increased fears of adverse effects of the coronavirus in vulnerable populations such as pregnant women, diabetics and the elderly led to rise in demand better-for-you products in countries across the world. In the global Better-For-You (BFY) Foods segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment.
These regional markets accounting for a combined market size of US$115.2 Billion in the year 2020 will reach a projected size of US$160.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$13.7 Billion by the year 2026, while Latin America will expand at a 6.3% CAGR through the analysis period.
Select Competitors (Total 304 Featured) -
Aleia's Gluten Free Foods
Blue Diamond Growers
Bob's Red Mill Natural Foods
Chiquita Brands International
EVOLVE Brands LLC
Procter & Gamble
Key Topics Covered:
1. MARKET OVERVIEW
COVID-19 Pandemic Leads to Increased Consumer Focus on Health and Wellness Products
From Food Security to Health Security, Pandemic Sends Functional Foods Cruising Down a New Road of Opportunity
Pandemic Increases Consumer Demand for Healthier Ingredients in Foods and Beverages
Functional Foods and Drinks: A Fragmented Market
Consolidation Continues to Shape the Market Landscape
Food Allergy and Intolerance Products: A Fragmented Market
Health and Wellness Foods - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Focus on Healthy Lifestyles Amidst the Ongoing Pandemic Drives Focus onto Health & Wellness Foods
Focus Grows on Natural Foods and Clean Label
Consumers Focus on Less Processed Foods Drives Market Prospects
Health & Wellness Trend Catalyzes Growth of Global Functional Foods & Drinks Market
Functional Foods & Beverages Ecosystem
Favorable Outlook for Functional Foods & Beverages Augurs Well for the Market
Major Functional Foods, their Functional Components and Health Benefits Summarized
Major Functional Spices and their Health Benefits Summarized
Plant-Centric Demand to Buoy Functional Foods & Drinks Market
Probiotics Remain the Preferred Ingredient for Gut Health Foods
Dairy-Based Functional Yogurt: The Most Popular Probiotic Food
Protein-Fortified Products Rise in Demand
Free-From Foods: A Transformative Trend in the Food Industry
Rise in Food Sensitivities and Intolerances Fuels Demand for Fuel Intolerance Products
Lactose-free Products: Rising Incidence of Lactose Intolerance and Sensitivity Fuels Growth
Lactose-free Dairy Products Grab Major Share of Lactose-free Products Market
Lactose Content of Dairy and Select Dairy Products
Lactose-free Cheese: Perceived Health Benefits and Lactose-Intolerance Drive Sales
Gluten-free Products: Addressing the Needs of Gluten Sensitive Individuals
Rising Incidence of Celiac Disease & Growing Health Awareness among Consumers Present Opportunities for Gluten-Free Products Market
Gluten-Free Trend Gains Prominence in Bakery Products Market
Gluten-free Beverages Market: Health Advantages Spur Growth
Taste: A Key Factor Determining Consumer Acceptance of Gluten-Free Products
Growing Consumer Preference for Natural & Organic Foods Drives Market
Whole Grain and High Fiber Foods: Nutritious and Healthy Plant-Based Diet with Disease Fighting Phytochemicals
Myriad Health Benefits of Whole Grains and High Fiber Diet to Drive Widespread Consumption
Fiber: The Out and Out Growth Driver
Common Whole Grain Varieties & their Health Benefits
Changing Consumer Needs Drive Demand for Whole Grain Nutrition Bars
Surging Popularity of Plant-based Health Foods
Growing Focus on Weight Management Boosts Prospects in Health & Wellness Foods Market
Increasing Prevalence of Chronic & Lifestyle Diseases Enhances Consumer Spending on Wellness Foods
With Fitness & Gym Trainers Promoting Healthy Diets as Part of Fitness Routines, Health & Wellness Foods Market Set to Grow
Millennials Inclination towards Health & Fitness and the Ensuing Focus on Health Foods and Drinks Drive Market Gains
Demographic Factors Influence Growth in Health & Wellness Foods Market
Challenges Facing the Health and Wellness Foods Market
4. GLOBAL MARKET PERSPECTIVE
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