Global Nutritional Food Market - 2023-2030

Market Overview

The Global Nutritional Food Market reached US$ 5.1 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 9.7 billion by 2030. The market is expected to exhibit a CAGR of 8.5% during the forecast period (2023-2030).

Foods that are nutrient-rich (or nutrient-dense) are low in unhealthy fats, sodium, sugar, and carbohydrates. They have few calories and are packed with vitamins and minerals. The human body needs micronutrients like vitamins and minerals. Nutraceuticals provide nutrition for the body and support good health, which is driving the nutritional food market.

The demand for nutritional foods has expanded globally as consumers' awareness of their health, attention to healthy lifestyles, and diets have all increased. Rising consumer awareness of the nutritional advantages provided by functional foods has also been supported by increasing awareness initiatives by government organizations, nongovernmental organizations, and businesses, which are projected to fuel nutritional food market growth.

Market Dynamics

The Increasing Adaption of Vegan Food is Driving the Market Growth.

Superfoods and plant-based diets are becoming increasingly popular as strategies to lead healthy lives. In the nutritional supplement market, a number of businesses have concentrated on introducing a new line of goods that are not simply tablets but also come in tasty forms like candies and soft chews with a variety of flavors.

For those who prefer not to chew candies or take pills, a number of goods, such as vitamin supplements from Frunutta, dissolve beneath the tongue and are beneficial. As a result, this aspect spurs nutritional food market growth during the forecast period of 2023-2030.

Growing E-Commerce Impact in the Nutritional Foods Sector

Through retail and internet platforms, purchasing several dietary supplements has become considerably simpler. The nutritional food market has been significantly influenced by how easily nutritious meals are accessible.

The enhanced product visibility and expanded reach across all age groups and socioeconomic strata, e-commerce platforms are also accelerating the market's growth. Because of the pandemic, e-commerce platform use has grown significantly, which has further accelerated industry growth.

COVID-19 Impact Analysis

The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it with pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global nutritional food market is segmented based on product, ingredients, application, distribution channel, and region.

In the Global Market of Nutritional Food, the Bakery and Cereals Segment Holds the Largest Market Share.

The global nutritional food market has been segmented by products into bakery and cereals, dairy products, fish and eggs, soy products, fats and oils, and others. The bakery and cereals segment held the largest nutritional food market share of 32.6% in 2022 in the nutritional food market analysis report. The market is anticipated to grow as a result of new product advancements in the bread and cereal business sectors.

Furthermore, the market is anticipated to rise significantly due to increased demand for cereal bars and functional foods including protein bars, nutrition bars, and energy bars. With companies like Kellogg's developing new product lines like the fiber-rich Crunchy Granola, Special K, Muesli, and Corn Flakes fortified with iron, zinc, and 9 key vitamins, it is predicted that the market for fortified cereals will continue to grow quickly.

Geographical Analysis

The North America Held the Largest Share in Nutritional Food Market.

The North America nutritional food market held the largest market share of 38.4% in 2022 in the nutritional food market analysis. This is a result of improved ingredient disclosure among savvy consumers, which has led to an increase in phytochemicals and nutrient-dense food ingredients in countries like the U.S, and Canada.

Additionally, it is anticipated that North America will continue to hold a significant value share in the global market for nutritional food components over the forecasted period of 2023-2030. More than any other nation, American consumers are more concerned with their health. Customers are therefore well-informed about the nutrients in food products.

Competitive Landscape

The major global players in the market include: Medifast Inc., Bayer AG, Abbott, DuPont, Amway, The Nature's Bounty Co., GSK plc., Nestle S.A, RiceBran Technologies, and Mead Johnson & Company, LLC.

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:

COVID-19 Impact:

The global nutritional food market was directly and negatively impacted by the COVID-19 outbreak. The distribution channels were badly impacted by lockdowns to stop and contain the outbreak. Disrupted distribution channels have an impact on value-adding operations by reducing the marketability of finished goods.

Concerns about one's health, desire to be informed about information from others, and intention to consume nutritious foods are all significantly influenced by COVID-19 viral anxiety. On the intention to consume nutritious foods, the mediating effects of health consciousness and eWOM (Electronic Word of Mouth) were also seen.

When consumers accept the source of the eWOM information, the fear of the COVID-19 virus and their concern for their health act as strong motivators for buying nutritious foods, which has increased the demand for nutritional foods post COVID-19.

Why Purchase the Report?

• To visualize the global nutritional food market segmentation based on product, ingredients, application, distribution channel, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of nutritional food market-level with all segments.
• The PDF report consists of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The global nutritional food market report would provide approximately 93 tables, 109 figures and 190 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies