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NEW YORK, June 13, 2022 /PRNewswire/ — The global health and wellness food market value is expected to grow by USD 362.15 billion at a CAGR of 8.27% during the forecast period. Technavio expects the European market to offer significant growth opportunities for market players. The report provides detailed insights on the market size, current market scenario, and the YOY growth rates through 2025.
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The market is fragmented and the degree of fragmentation is expected to increase during the forecast period. Vendors are focusing on adopting various organic and inorganic growth strategies to remain competitive in the market. Technavio identifies Archer Daniels Midland Co., Danone SA, Dean Foods Co., General Mills Inc., GlaxoSmithKline Plc, Kellogg Co., Mondelez International Inc., Nestle SA, PepsiCo Inc., and Yakult Honsha Co. Ltd. as dominant players in the market.
The increasing adoption of healthy eating habits will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Health and Wellness Food Market Segmentation
- Product
- Naturally Health Food
- Functional Food
- BFY Food
- Organic Food
- Food Intolerance Products
- Distribution Channel
- Offline
- Online
- Geography
- North America
- APAC
- Europe
- MEA
- South America
By product, the market will observe maximum growth in the naturally health food segment. The segment is driven by health benefits associated with the consumption of naturally healthy foods such as improved digestion that allows better absorption of nutrients, regulation of blood sugar, and better immunity due to the antioxidant properties of such food products.
By distribution channel, the offline segment accounted for maximum sales in the market in 2021. Factors such as superior shopping experience and the advantage of one-to-one interaction between the buyer and the seller are driving the growth of the segment.
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Technavio presents a…
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