Nutritional Food Market Size, Share, Trends, Growth 2032

Nutritional Food Industry Prospective:

The global nutritional food market size was evaluated at $6.39 billion in 2023 and is slated to hit $13.19 billion by the end of 2032 with a CAGR of nearly 9% between 2024 and 2032.

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Nutritional Food Market: Overview

Nutritional food is referred to as food that is rich in key nutrients vital for maintaining good health, thereby aiding growth and providing energy. Furthermore, these nutrients include fats, proteins, minerals, and carbohydrates. Benefits of nutritive food can help people in making informed dietary decisions. Major components of nutritional food include macronutrients, fiber, and micronutrients.

Key Insights

• As per the analysis shared by our research analyst, the global nutritional food market is projected to expand annually at the annual growth rate of around 9% over the forecast timespan (2024-2032)
• In terms of revenue, the global nutritional food market size was evaluated at nearly $6.39 billion in 2023 and is expected to reach $13.19 billion by 2032.
• The global nutritional food market is anticipated to grow rapidly over the forecast timeline owing to an increase in health & wellness due to the rising cases of chronic ailments and preventive healthcare.
• In terms of product type, the functional foods & beverages segment is slated to register the highest CAGR over the forecast period.
• Based on distribution channel, the supermarkets & hypermarkets segment is predicted to contribute majorly towards global industry surge in the ensuing years.
• On the basis of consumer demographics, the age segment is likely to maintain segmental domination in the forthcoming years.
• Region-wise, the Asia-Pacific nutritional food industry is projected to register the fastest CAGR during the assessment timespan.

Nutritional Food Market: Growth Factors

A surge in the awareness about good health to boost the global market trends

An increase in health & wellness due to rising cases of chronic ailments and preventive healthcare will steer the growth of the global nutritional food market. Furthermore, escalating demand for convenience diets such as ready-to-eat as well as ready-to-cook foods will embellish the global market trends.

In addition, an increase in the geriatric population requiring nutritive foods as well as functional foods will prop up the expansion of the global market. Innovations in food technology, along with breakthroughs in genetic testing, will pave the way for the growth of the market globally. Flourishing e-commerce sector, along with demand for plant-based nutritive diets and rising health consciousness, will prop up the market expansion globally.

Nutritional Food Market: Restraints

Changing raw material & production costs can hamper the global industry expansion over forecast period

Oscillating raw material prices and strict laws pertaining to health, safety, and labeling of claims can obstruct the growth of the global nutritional food industry. Furthermore, huge production costs along with restricted shelf life can hinder the growth of the global industry.

Nutritional Food Market: Opportunities

Escalating intake of functional foods and surging online product purchases to create new avenues of growth for the global market

Demand for personalized nutrition and rising intake of functional diets will proliferate the growth of the global nutritional food market. Furthermore, a rise in the online sale of the product, along with an increase in the allocation of funds in sports nutrition products, is anticipated to foster the expansion of the market globally.

Nutritional Food Market: Challenges

Easy availability of product substitutes can challenge the growth of the industry across the globe

Tough competition from processed food producers and changing diet consumption patterns can challenge the expansion of the global nutritional food industry. Furthermore, changing cultural attitudes towards dietary supplements vary notably across various regions, thereby steering the global industry trends.

Nutritional Food Market: Report Scope

Nutritional Food Market: Segmentation

The global nutritional food market is divided into product type, distribution channel, demographics, and region.                      

In terms of product type, the nutritional food market across the globe is segmented into functional foods & beverages, dairy products, cereals & grains, legumes & pulses, oils & fats, fruits & vegetables, nuts & seeds, and meat, poultry, and seafood segments. Apparently, the functional foods & beverages segment, which garnered nearly half of the global market earnings in 2023, is projected to record the fastest CAGR in the next couple of years owing to a surge in the health consciousness along with a diverse product range of functional foods & beverages.

Based on the distribution channel, the global nutritional food industry is sectored into online retail, supermarkets & hypermarkets, convenience stores, and specialty stores segments. Furthermore, the supermarkets & hypermarkets segment, which dominated the global industry share in 2023, is set to contribute notably towards the global industry progress over 2024-2032. This can be due to the wide network of stores of supermarkets & hypermarkets, which makes nutritional food items easily accessible to a growing customer base. Moreover, supermarkets & hypermarkets provide nutritional foods in varied forms ranging from fresh produce to packaged foods, thereby fulfilling varied consumer food requirements.    

On the basis of demographics, the global nutritional food market is segregated into income level, age, and gender segments. Moreover, the age segment, which led the segmental growth in 2023, is likely to retain its segmental dominance in the forecasting years as a result of the rise in the number of adult population preferring nutritional foods.

Nutritional Food Market: Regional Insights

North America is likely to maintain leading position in the global market over the assessment timeframe

North America, which accounted for about 38% of the global nutritional food market size in 2023, is expected to establish a stronghold in the global market during the forecast timeline. Additionally, the regional market expansion in the coming eight years can be due to surging health awareness among the people in countries such as the U.S. Presence of strong healthcare infrastructure in the region will steer the regional market trends. Growing health & wellness trends in the region will proliferate the regional market size.

Asia-Pacific nutritional food industry is anticipated to register the highest CAGR in the expected timeframe. The rapid progression of the industry in APAC can be credited to swift economic development in developing countries such as India and China. Furthermore, surging healthcare awareness among the urban populace in Asian countries will spur industry expansion in APAC. Supportive government policies and changing food habits will embellish the industry growth in the APAC.

Nutritional Food Market: Competitive Space

The global nutritional food market profiles key players such as:

• Nestle SA
• Danone Corporation
• Herbalife Nutrition Ltd.
• Simply Good Foods
• GSK Consumer Healthcare
• GNC Holdings Inc.
• Abbott Laboratories
• Unilever plc
• Kellogg Company
• Pepsico
• Amway
• Coca-Cola
• Herbalife Nutrition
• Kraft Heinz Company
• Glanbia

The global nutritional food market is segmented as follows:

By Product Type

• Oils & Fats
•  Dairy Products
•  Cereals & Grains
• Legumes & Pulses
•  Fruits & Vegetables
• Nuts & Seeds
• Functional Foods & Beverages
• Meat, Poultry, and Seafood

By Distribution Channel

• Online Retail
• Supermarkets & Hypermarkets
•  Convenience Stores
• Specialty Stores

By End-User 

• Income Level
• Age
• Gender

By Region

• North America

  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa