Health and Wellness Foods Market Overview:
During the forecast period, the global health & wellness foods market is expected to grow at a CAGR of 9.10%. The global health and wellness foods market was valued at US$ 0.75 billion in 2021 and is expected to grow to US$ 1.26 billion by 2027.
The Health & Wellness foods market improves overall health by providing better nutrition/vitamins/energy-based foods and reducing stress and tension. Because of COVID-19, consumers are rapidly shifting toward healthier foods like organic and natural foods. Growing busy lifestyles, rising pollution, and rising negative effects have resulted in a shift toward healthier foods. COVID-19 has shifted consumer demand for healthy goods and immunity-based products, and eight out of ten consumers have changed their eating/diet plans.
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Health and Wellness Foods Market Dynamics:
The rising popularity of healthy and natural foods is the primary driver of the global health and wellness foods market. The market is being driven by rising awareness of naturally healthy foods that are high in vitamins, fibre, antioxidants, and nutrition. Due to covid-19, the demand for natural foods such as herbal tea, green tea, honey, olive oil, fresh fruits and vegetables, apples, nuts and seeds has increased since last year. The global health and wellness market has also been driven by rising consumption of organic foods such as cabbage, eggplants, apples, grapes, organic milk, and yoghurt.
Health and Wellness Foods Market Segmentation:
Organic foods had the largest market share of 30% in 2021 because they improve overall health, provide better taste, are high in antioxidants/minerals, and boost the immune system. During the forecast period, the global organic food market is expected to grow at a CAGR of 6.0% and reach USD 450.0 Bn. The fastest growth in the health & wellness foods market has resulted in increased demand for organic fruits and vegetables, meats and dairy, and baby foods. The preference for organic foods increased sales by 25% in 2021. By 2027, the functional food segment is expected to grow at a CAGR of 6.0%. The functional foods segment accounts for 20% of the global health and wellness market.
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Health and Wellness Foods Market Key Players:
Market leaders are identified through primary and secondary research, and market revenue is calculated through primary and secondary research. The primary study included in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives. In-depth interviews with key thought leaders and industry professionals, such as experienced front-line staff, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers’ annual and financial reports. Secondary data is used to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data.
The following are the key players of the Health and Wellness Foods market-
- Archer Daniels Midland Co.
- Danone SA
- Dean Foods
- Mondelez Global LLC
- General Mills
- Glaxo SmithKline PLC.
- Kellogg Co.
- Nestle SA
- PepsiCo Inc.
- Yakult Honsha Co. Ltd.
- Abbott Laboratories
- Albert’s Organic
- Aleias Gluten free food
- Amy’s kitchen
- Arla food
Regional Analysis:
North America will have a 30% market share of the health and wellness market in 2021, followed by Europe. In 2021, the United States is expected to reach USD 290.0 billion. During the forecast period, China is expected to grow at a CAGR of 7.0% and reach USD 130.0 Bn. Japan and Canada are expected to grow at a CAGR of 4.5% and 6.0%, respectively, during the forecast period.
COVID-19 Impact Analysis on Health and Wellness Foods Market:
The paper also assesses the impact of COVID-19 on the Health and Wellness Foods industry. The primary goal of this research is to help users understand the market in terms of definition, segmentation, market potential, significant trends, and challenges that the industry faces across major regions. The study examines the overall impact of COVID-19 on the Health and Wellness Foods Market from a microeconomic and macroeconomic standpoint. The analysis focuses on market share and size, clearly demonstrating the pandemic’s impact on the global Health and Wellness Foods industry in the coming years.
Key Questions Answered in the Health and Wellness Foods Market Report are:
- What will be the Health and Wellness Foods market’s CAGR throughout the projected period (2021-2027)?
- Which market category emerged as the market leader in the Health and Wellness Foods industry?
- Who are the key players in the Health and Wellness Foods industry?
- What important trends in the Health and Wellness Foods industry are anticipated to develop throughout the forecast period?
- How big will the Health and Wellness Foods industry be in 2027?
- In 2020, which business segment had the highest proportion of the Health and Wellness Foods industry?
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