Nutritional Food and Drink Market Expected to Reach $320.7 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Nutritional Food and Drink Market," The nutritional food and drink market size was valued at $105.30 billion in 2022, and is estimated to reach $320.7 billion by 2032, growing at a CAGR of 12.1% from 2023 to 2032.

Nutritional foods are high in nutrients and low in salt, sugar, carbohydrates, and others. They are low in calories and high in minerals and vitamins. Micronutrients, such as minerals and vitamins, are necessary for human health. They can also lower the risk of developing chronic illnesses. The body can absorb them adequately if the consumer gets them through meals. Nutrient-dense foods are natural and unprocessed instead of synthetic, artificial, or chemically processed foods. In addition, nutrition drinks and shakes are specially formulated beverages that provide vitamins, minerals, fatty acids, and other vital nutrients.

One of the primary aspects driving the market growth is a rising inclination for healthy and active lifestyle. Furthermore, the increased consumer acceptance of protein supplements and the adoption of fitness in their lifestyles are likely to boost the nutritional food and drink market Opportunities. Consumer desire for nutritious goods including plant-based ingredients and providing immunity-boosting benefits is also driving the market expansion. Furthermore, manufacturers' increased use of social media platforms such as YouTube and Instagram to promote their products is expected to drive demand for sports nutrition products. Online purchases of pharmaceutical and health items have increased by 9.0%, according to a survey performed by the United Nations Conference on Trade and Development and the Netcomm Suisse eCommerce Association.

Nutritional foods are used in different medical usage and supplement application. These products need to pass strict regulations of concerned agencies and provide a list of all the ingredients used to manufacture nutritional food products. The nutritional food manufacturing company should adhere to the given regulations to launch products in the market. These factors are anticipated to restraint the nutritional food and drink market growth during the forecast period.

Investment in R&D has led in the development of improved nutritional supplements aimed to improve athletic performance. Companies are continually developing in order to fulfil the special needs of athletes and fitness-conscious consumers. Many sports nutrition firms promote their products in collaboration with athletes, sports teams, and fitness influencers. These collaborations not only assist to sell nutritional products, but also aid to establish brand credibility and confidence among the fitness and sports communities. Wearable technology, which frequently includes apps and gadgets for tracking physical activity and health data, has been embraced by the sports and fitness industry. These technologies have enabled the incorporation of individualized nutrition advice using nutritional food and drink products. Sports nutrition products are no longer confined to specialty stores. They are now available in mainstream supermarkets and online marketplaces, making them more accessible to a wider range of consumers. These factors are anticipated to create several growth opportunities for the key players operating in the nutritional food and drink market in the upcoming years.

The nutritional food and drink market share is segmented on the basis of type and application, and region. By type, the market is divided into food (sugar & fat replacers, fiber-enriched products, nutritional supplements, and others) and drink (energy drinks, flavored & enhanced waters, juices, and others). By application, the market classified into healthcare, sports & fitness, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the nutritional food and drink market analysis report include Nestle, Abbott, Bayer AG, DUPONT, Amway, Health Food Manufacturers’ Association, Glanbia Plc, Bionova, GSK plc, and Herbalife International of America, Inc.

The report offers a comprehensive analysis of the global nutritional food and drink market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights on the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Impact of COVID-19 on the Global Nutritional Food and Drink Industry

• The COVID-19 pandemic had significant impact on the nutritional food and drink market. These effects have been witnessed due to various factors, including changes in consumer behavior, supply chain disruptions, and public health concerns.
• The pandemic accelerated existing health and wellness trends, such as plant-based diets, healthy eating, and supplements. These trends have driven demand for a wide range of nutritional products. The closure of physical stores and concerns about in-person shopping led to increased online purchases of groceries and nutritional products. E-commerce platforms became the main distribution channel for these items.
• Many companies in the nutritional food and beverage market reduced marketing and advertising activities due to budget constraints, affecting brand recognition and new product launches. The pandemic also brought regulatory challenges related to labeling, safety, and health claims for nutritional products.

Key Findings of the Study

• Based on type, the food sub-segment emerged as the global leader in 2022 and is anticipated to be the fastest growing sub-segment during the forecast period.
• Based on application, the sports sub-segment emerged as the global leader in 2022 and the sports & fitness sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on region, North America registered the highest market share in 2022 and is projected to maintain its position during the nutritional food and drink market forecast period.