The complete nutrition products market is expected to increase at a 6.39% CAGR from 2023 to 2033, from US$ 5.22 billion in 2023 to US$ 9.70 billion in 2033.
The Popularity of Bars, Ready-to-drink Beverages, and Other Items is Increasing the Demand for Comprehensive Nutrition Solutions
Complete nutrition solutions contain 20-30 vitamins and minerals, protein, and carbohydrates. These do not require cooking, in turn making them an appealing food option, particularly for working people and single-person homes. Due to rigorous work schedules and busy lifestyles, the trend of on-the-go consumption is gaining popularity among Millennials and Generation Z. Consequently this trend is increasing the demand for full nutrition solutions.
A growing number of single-person homes that prefer to consume quick food and beverage products due to a lack of time is expected to drive market expansion in the future years.
Due to an increase in working-class disposable income and increased expenditure on nutritious food goods, consumers have shown a great readiness to pay high costs for convenient food products in recent years. This is likely to increase demand for full nutrition products. The use of these items has been noted to be increasing among women as the number of working women worldwide increases.
The growing popularity of nutrition products and expanding public awareness about their advantages are the primary factors driving the growth of the complete nutrition products market. Customers are interested in items with natural and organic ingredients, clean-label products, and so on. Furthermore, people prefer nutrition supplements as an alternative to natural food products.
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Modernization and industrialisation are two important aspects that have contributed to the population’s sedentary lifestyle and bad eating habits. This has resulted in a rising number of persons suffering from chronic diseases and obesity. Due to the increasing prevalence of chronic diseases and obesity, individuals are gravitating toward a healthy lifestyle and physical exercise. As a result, the need for full nutrition products has skyrocketed.
The growing popularity of the e-commerce sector is another factor impacting the market expansion. The increased use of smartphones and the increasing penetration of the internet has improved consumer awareness of nutritious items. This has propelled market expansion during the predicted period.
Customers’ online shopping has increased at a rate of more than 50%, providing significant chances for the entire nutrition products sector.
Key Points from the Complete Nutrition Products Market
- The market is expected to surpass US$ 9.70 billion by 2033.
- The rising cases of obesity around the world, increasing concerns about vitamin and calcium deficiencies, and growing protein awareness are the driving factors in the complete nutrition products market.
- Complete nutrition products market is expected to record a CAGR of 6.39% during the forecast period 2023 to 2033.
- North America dominated the complete nutrition products market.
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Key Developments in the Complete Nutrition Products Market
August 2021 – Huel announced a relationship with Contentsquare, the only full-experience analytics platform. This collaboration aims to help drive the company’s growth through digital experience innovation.
March 2021 – Soylent announced a partnership with Walgreens, a global leader in retail pharmacy. This collaboration intended to broaden Soylent’s retail reach by making all Soylent products, including novel formats and on-the-go options, accessible for purchase at Walgreens locations across the United States.
June 2021 – THG announced the acquisition of Brighter Foods, a food maker. This acquisition sought to accelerate the introduction of new product innovations into worldwide markets while also increasing the amount of THG Nutrition products manufactured entirely in-house.
August 2020 – Glanbia acquired Foodarom, a custom taste designer and maker. This acquisition sought to enhance Glanbia Nutritionals’ solutions-based client strategy and target areas, as well as strengthen Glanbia’s expertise in the tastes and nutritional solutions segments.
October 2020 – Abbott Laboratories introduced strawberry-flavored food supplements in India. As a result, the company’s array of dietary supplements will be expanded.
November 2019 – Amway invested USD 200 million in a nutritional supplement innovation plant in China. This enhanced the company’s overall growth by allowing it to provide customized solutions.
October 2019 – Herbalife launched a relaxing tea and new immunological fundamentals, including EpiCor, to meet nutritional supplement demand in North American market. This would expand the company’s array of dietary supplement products.
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Complete Nutrition Products Market Key Segmentation
by Product:
- Powder
- RTD Shakes
- Bars
by Distribution Channel:
- Supermarkets
- Convenient Stores
- Online Stores
by Region:
- North America
- Europe
- Asia Pacific
- Lat America
- Middle East & Africa
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