The Health Food Market is estimated to reach $1,321.5 billion by 2028, growing at a CAGR of 9.2% over the forecast period 2023-2028. Food that promotes, maintains or enhances general health is referred to as health food. A healthy diet must include natural food items that are high in macronutrients, micronutrients and sufficient dietary energy, such as functional food, cereals, legumes, quinoa and organic food. Consumers all over the world have become increasingly aware of the negative effects of meat overconsumption, thanks to various government measures in the form of awareness campaigns and publicity. Consuming excessive processed food can result in a variety of health problems, including high cholesterol, blood sugar, obesity and high blood pressure, which can induce cardiac arrest. In 2020, there were more than 356,000 out-of-hospital cardiac arrests (OHCA) in the United States, with over 90% of these being deadly, according to the Sudden Cardiac Arrest Foundation. Consumers are being compelled to switch to natural health food, functional food and organic food like legumes, cereals and quinoa since they are much healthier and more nutrient-dense. Healthy diets include a number of health advantages, including a lower risk of type 2 diabetes, heart disease and obesity. Consequently, the market for health food would increase more throughout the forecast period of 2023-2028. 

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Health Food Market Drivers

  • Consumer Knowledge of Health Benefits of Health Food:

The increase in biological farming methods and consumer knowledge of the health benefits of organic food are expected to increase demand for healthy food. The National Bureau of Statistics of China reported that each person consumed 105.4 kilograms of organic fruits and vegetables annually. APEDA estimates that India produces 99.07 million metric tonnes of fruits and 191.77 million metric tonnes of vegetables. Owing to the increased consumer demand, these nations with the greatest populations also have a sizable tendency to produce organic food. This is boosting the market growth.

  • A Shift in Consumer Preference towards Purchasing Health Food:

An increase in consumer health consciousness and increased knowledge of fitness are expected to drive the market for Health Food over the forecast period. Consumers are including bioactive food components like omega-3 fatty acids, antioxidants, probiotics, soy protein and beta-carotene in their meals to maintain optimum health. Urbanization and higher income levels are also linked to a way of life that requires less daily exercise and gives more access to meals with higher caloric content. According to the International Food Information Council's 2020 Food and Health Survey, COVID-19 has led to changes in eating or food preparation habits for 8 out of 10 American consumers. Additionally, a Moneydasher report from 2021 indicates that 25–30% of all supermarket shoppers in the United States and Europe are health-conscious which is boosting the market growth.

R&D Investment:

Bunge Ltd. has invested $30 million in Merit Functional Foods, giving the ingredient supplier a minority stake in the Canadian firm. As a result of the cooperation, Merit's plant-based protein facility in Winnipeg, Manitoba, which would generate new pea and canola protein components, would be built faster. The facility would be the first commercial-scale extraction facility in the world, able to produce food-grade canola protein when it is fully operational.

The Major Players in this Market

The major companies in the Health Food Market include Archer Daniels Midland Co., Danone SA, Dean Foods Co., Dairy Farmers of America, Inc., Mondelez Global LLC, General Mills Inc., GlaxoSmithKline Plc, Kellogg Co., Nestle SA and PepsiCo Inc.

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