Some of the primary growth drivers for the industry include:
- The growing number of individuals embracing a balanced, nutritional diet due to a more at-home lifestyle, which is largely being driven by higher “work-from-home” tendency.
- The rising consumption of organic food made from natural ingredients as opposed to inorganic options.
- The continued shift to a more active lifestyle, fueling demand in organic, range-fed, low-carb, dairy free, and gluten-free foods.
- The increasing availability of natural and organic foods in regular stores, as opposed to just specialty stores.
These drivers are expected to support growth trends that will enable the industry to surpass $1 trillion in market size within the next five years. The Health and Wellness Food industry was estimated at $939.9 billion in 2022 and is projected to reach $1.4 trillion by 2027, representing an 8.5% CAGR. Currently, organic foods, plant-based foods, and functional foods are a few of the top-performing categories.
Better nutrition is an important part of wellness. However, consumers now want food not only for taste but also to help them accomplish their wellness goals. Last year, more than one-third of consumers around the world reported that they “probably” or “definitely” planned to increase spending on nutrition apps, diet programs, juice cleanses, and subscription food services.
Other recent trends in the Health & Wellness sector include:
- Plant-Based Food Alternatives Going Mainstream: Plant-based products are expected to continue to be on trend — not only for their known health benefits, but also because they have become a popular means of sustainability and reducing environmental footprint.
- Food Tech Revolution Driving Personalized/Precision Nutrition: New technology, gut microbiome testing, and constant new food launches are bringing a tailored approach to food manufacturing.
- More Mindful and Balanced Eating: Per the global food and nutrition giant ADM, 66% of consumers globally are more concerned with immunity today than a few years ago.
- Multiple Variants for Food and Beverages: With increasing options/variants for F&B, many trends have risen for consumers to follow healthier and tastier food.
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