The complete nutrition products market is projected to witness substantial growth, reaching a valuation of US$ 9.70 billion by 2033. Anticipating a CAGR of 6.39% from 2023 to 2033, the market’s value is expected to surge from US$ 5.22 billion in 2023. This growth is attributed to the rising awareness of health, clean labels, and organic food choices, compelling consumers to opt for comprehensive nutrition solutions.
Complete Nutrition Products play a pivotal role in addressing micronutrient needs, offering a diverse range of essential elements such as vitamin D, calcium, and iron. With an increasing emphasis on health and well-being, the market has witnessed significant growth, particularly driven by the high protein content in full protein products, aiding in muscle maintenance.
The demand for Complete Nutrition Products is propelled by the growing working population globally, coupled with the surge in single-person households. The market is further boosted by the preference for convenient, on-the-go food products like RTD shakes and bars. The increasing consumer inclination towards organic, high-quality, and unique flavor items is contributing to market expansion.
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Growth Factors
The market’s steady growth is influenced by factors such as the rising prevalence of obesity due to sedentary lifestyles and the increasing demand for full nutrition solutions for weight management. Opportunities arise from the expanding working populations and the rise in single-parent homes, leading to a demand for easy-to-prepare nutritional products.
Key Takeaways
- The Complete Nutrition Products market is set to reach US$ 9.70 billion by 2033 with a CAGR of 6.39%.
- Historical CAGR from 2018 to 2022 was 6.36%, showcasing consistent growth.
- The market caters to consumer preferences for health, clean labels, and organic choices.
- Increasing internet penetration and mobile shopping preferences contribute to market growth.
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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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