Global health and wellness food market to reach $1 trillion by 2026

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Editing: 8; Published: February 2022
Executive commitments: 2989
Companies: 304 – Players covered include Abbott Laboratories; gluten-free foods from Aleia; Amy’s kitchen; Bayer SA; blue diamond producers; Bob’s Red Mill Natural Foods; Chiquita Brands International Sarl; Danone SA; EVOLVE Brands LLC; Kellogg Co.; Nestlé SA; The Procter & Gamble Company; UNFI and others.
Blanket: All major geographies and key segments
segments: Product Type (Naturally Healthy Foods, Functional Foods, Better For You (BFY) Foods, Organic Foods, Food Intolerance Products); Distribution channel (retail, online)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.

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ABSTRACT-

Global health and wellness food market to reach $1 trillion by 2026
Health and wellness foods are foods or beverages capable of imparting a physiological benefit intended to improve overall health, aid in the prevention or treatment of disease, or enhance physical or mental performance due to the addition of a functional ingredient or a change in processing. The growth of the global market is fueled by the growing attention to healthy diets, growing popularity of organic foods, and rising food sensitivities. Increasing sedentary lifestyles and the adverse effects of these lifestyles have led to a shift towards healthy eating. Trends such as organic, high-end, low-carb, dairy-free, and gluten-free are all by-products of consumers wanting to embrace healthier lifestyles. Additionally, recent outbreaks of health alerts, including the current COVID-19 pandemic, have popularized the consumption of healthy foods to enhance immune responses. The increasing availability of natural and organic foods in regular stores, as opposed to availability in specialty stores, is also driving the market. In addition, establishment of standard procedures for certification of natural, organic and health benefits is also contributing to the development of a large number of products, thereby driving the growth of the market. The focus on health and wellness food products is also increasing due to rising levels of obesity and the growing incidence of chronic diseases such as asthma, diabetes and blood pressure, among others, in developed and developing countries. Naturally healthy foods are known to play a vital role in the prevention and treatment of several medical conditions.

Amid COVID-19 crisis, the global Health and Wellness Food Market estimated at US$841.1 billion in 2022, is expected to reach a revised size of US$1 trillion by 2026, growing at a CAGR of 6% over the analysis period. Naturally healthy foods, one of the segments analyzed in the report, is expected to grow at a CAGR of 6.5% to reach US$480.9 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the functional foods segment is readjusted to a revised CAGR of 6.3% for the next 7-year period. This segment currently accounts for a 20.4% share of the global health and wellness food market. The growth of the global market for naturally healthy foods is fueled by growing consumer interest in health and wellness and growing consumer awareness of the health benefits offered by these foods. Naturally healthy foods are usually unprocessed or minimally processed to ensure they remain close to their original state, and are usually eaten for health benefits. Few naturally healthy foods include high fiber foods, olive oil, 100% fruit/vegetable juices, herbal teas, green tea, honey, curd drinks and snacks with fruit, among others. Also called fortified foods, functional food products are designed to provide health benefits beyond the nutritional value that would not naturally be found in the product. The rise of the functional food and beverage sector is attributed to growing health awareness and the move towards preventative medicine.

The US market is estimated at $298.3 billion in 2022, when China is expected to reach $124.6 billion by 2026
The health and wellness food market in the United States is estimated at US$298.3 billion in 2022. The country currently accounts for a 35.33% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$124.6 billion in 2026 with a CAGR of 8.3% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 4.2% and 5.8% respectively over the analysis period. In Europe, Germany is expected to grow at around 4.3% CAGR while the rest of the European market (as defined in the study) will reach US$133.2 billion at the end of the analysis period. Developed markets such as North America and Europe dominate the growth of the market. Health and wellness foods are inherently premium products, and higher disposable incomes in developed markets of North America and Europe, along with increased consumer awareness in these markets have resulted in the largest share of these regions. Market development in Asia Pacific like China and India hold the highest growth potential, due to growing awareness and increasing disposable income in the markets.

Better For You (BFY) Foods segment to reach $183.7 billion by 2026
Better-for-you products are gaining prominence due to their health benefits. Heightened fears of adverse effects of the coronavirus in vulnerable populations such as pregnant women, diabetics and the elderly have led to an increase in demand for healthier products in countries around the world. In the global Better-For-You (BFY) food segment, United States, Canada, Japan, China and Europe will drive the CAGR of 4.8% estimated for this segment. These regional markets representing a combined market size of US$115.2 billion will reach a projected size of US$160.5 billion at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$13.7 billion by 2026, while Latin America will grow at a CAGR of 6.3% over the analysis period. Continued

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