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Health Food Market By Product (Natural Health Food, Better-for-you (BFY) food, Functional Food & Organic Food), By Distribution Channel (Offline & Online), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2028
Health Food Market Overview
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. The demand for healthy food products has increased as a result of consumers' growing health consciousness toward curbing obesity, which is having a significant impact on the market for these food items. The World Obesity Atlas 2022, published by the World Obesity Federation, predicts that one billion people globally, including 1 in 5 women and 1 in 7 men, would be living with obesity by 2030. Healthy food is something that maintains, enhances or improves general health. Natural health food such as Functional food, cereals, legumes, quinoa and organic food that are rich in macronutrients, micronutrients and enough dietary energy are all essential components of a healthy diet. It protects one from a number of chronic, non-communicable diseases, including cancer, heart disease and diabetes. A balanced diet consists of a variety of food items, including staples like cereals, starchy tubers or roots, legumes, fruit and vegetables, as well as items derived from animals.
Health Food Market Report Coverage
The report: “Health Food Market – Forecast (2023-2028)” by IndustryARC, covers an in-depth analysis of the following segments in the Health Food Market.
By Product – Natural Health Food, Better-for-you (BFY) food, Functional Food and Organic Food.
By Distribution Channel – Offline and Online.
By Geography – North America (the U.S., Canada and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia and New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest of the World (the Middle East and Africa).
Key Takeaways
- Growing knowledge of the health benefits connected to the use of organic products is one of the main drivers fueling the Health Food industry expansion.
- As a result of the shift in consumer purchasing behavior, sales of organic food are anticipated to increase. Additionally, the Health Food industry is expanding due to the growing customer preference for non-GMO products.
- The demand for organic food has been significantly impacted by the COVID-19 epidemic. Consumers' buying habits changed as a result of this uncertainty, favoring more organic and natural products as they became more conscious of the value of having a robust immune system.
- A detailed analysis of strengths, weaknesses, opportunities and threats would be provided in the Health Food Market Report.
Health Food Market: Market Share (%) by region, 2022
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Health Food Market Segment Analysis – by Product:
Based on Product, the Health Food Market is further segmented into Natural Health Food, Better-for-you (BFY) food, Functional Food and Organic Food. The Functional Food segment held the largest share of the health food market in 2022. Functional food can enhance the quality of intestinal microbiota while also lowering the risk of cardiovascular illnesses. Such a trend of including functional food in daily diet is anticipated to fuel market expansion. Additionally, in response to growing concerns about reducing Greenhouse Gas emissions, the Environmental Protection Agency and the European Commission have developed supportive laws to increase both the consumption and production of organically derived substances. However, the Organic Food segment is estimated to grow at the fastest CAGR of 10.4% over the forecast period 2023-2028 owing to rising knowledge of the health advantages linked to the consumption of organic food. The shift in consumer purchasing behavior is expected to increase sales of organic food.
Health Food Market Segment Analysis – by Distribution Channel:
Based on Distribution channels, the Health Food Market is further segmented into Offline and Online. The Offline segment held the largest share of the health food market in 2022 due to the rising customer preference for buying health products offline. These shops offer a wide range of both imported and native goods. Sales of organic food, functional food, natural health food, better-for-you (BFY) food and others through this channel are increasing as a result of an increase in the number of supermarket and hypermarket chains and changes in the retail environment, particularly in developing economies.
However, the online segment is anticipated to grow at the fastest CAGR of 10.0% over the forecast period 2023-2028. With direct-to-consumer e-commerce channels such as brand websites, shoppable social media platforms and marketplaces becoming increasingly significant, post-pandemic tendencies have probably increased. Consumers all throughout the world predict they would increase their online activity and expenditure.
Health Food Market Segment Analysis – by Geography:
Based on Geography, the North America Health Food Market accounted for 34% market share in 2022 owing to its high knowledge of health food, the rising prevalence of chronic diseases and expanding product offerings. The production of organic food has increased as a result of the rising demand for natural health food. According to recent USDA projections, approximately 39 million acres or 16 million hectares, were under organic agricultural management in 2020. However, the Asia-Pacific segment is anticipated to grow with the fastest CAGR over the forecast period 2023-2028. This is majorly attributed to the region's expanding exercise facilities, expanding healthy eating habits, rising disposable income and growing knowledge of the benefits of eating natural health food, functional food and better-for-you (BFY) food. One of the key factors driving the expansion of the Health Food industry in the Asia-Pacific region is the increasing relevance of organic food.
Health Food Market Drivers
Rising Concerns about Chemical Poisoning Events:
One of the main factors propelling the Health Food industry forward is the increased demand brought on by people's growing health concerns about the rising number of chemical poisoning events. Chemical poisoning is a severe threat to public health. Over 95% of poisonings are caused by chemical poisoning, whether unintentional or intentional. Infants, toddlers and the youngest of children are most susceptible to accidental poisoning. The Centers for Disease Control and Prevention estimates that 48 million foodborne disease incidents take place annually, affecting one out of every six Americans despite the fact that the American food supply is among the safest in the world. Additionally, each year, 128,000 hospitalizations and 3,000 fatalities are anticipated as a result of these disorders.
Growing Cases of Malnutrition:
The market is expanding as a result of the increased consumer knowledge of the health benefits of organic food because of the growing cases of malnourishment. Organic food is grown without the use of artificial chemicals and is regarded as a healthy diet. In North America, a significant portion of the population has the opinion that a good diet helps to prevent non-communicable diseases, including heart disease, diabetes, stroke and cancer, as well as malnutrition in all of its forms. For instance, the World Health Organization states that inadequate physical activity and a poor diet are major global health concerns as of April 29, 2020. In the US, a healthy diet includes limiting free sugar consumption to no more than 10% of total caloric intake. Heart disease, cancer and stroke are the three major causes of death and healthy nutrition can reduce the risk of developing these conditions.
Health Food Market Challenge
The Absence of Quality Rules for Functional Food in Emerging Nations:
Budget restrictions are limiting the capacity of regulatory agencies to develop a cadre of well-trained inspectors and enhance the detection and enforcement of non-compliant products, according to a report from the National Center for Biotechnology Information (NCBI) published in 2020. This is one of the key factors that is having a detrimental effect on the market's expansion. The Mexican region has a history of unfavorable convergence with food. Furthermore, a study on cereal health claims conducted by Mexico's Institute of Public Health revealed that at least 70% of unhealthy cereals included at least one nutritional claim on the label. Similarly, less than half of the healthy functional food, alleged to have caused adverse health events, were recalled between 2018 and June 2022, according to regulator data from South Korea. Only 13.61 tons or 43% of the 31.85 tons of health functional food that were correctly recalled over the course of five years were hazardous items. This is already an obstacle to the market for Health Food in the target country and it also significantly undermines consumer confidence.
Health Food Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Health Food Market. The top 10 companies in the Health Food Market are:
1. Archer Daniels Midland Co.
2. Danone SA
3. Dean Foods Co.
4. Dairy Farmers of America, Inc.
5. Mondelez Global LLC
6. General Mills Inc.
7. GlaxoSmithKline Plc
8. Kellogg Co.
9. Nestle SA
10. PepsiCo Inc.
Recent Developments
- In June 2021, Kraft Heinz Company has announced the acquisition of Assan Foods from the privately held Turkish company Kibar Holding. The company wants to broaden its market reach worldwide through this acquisition while focusing on food quality and service.
- In February 2021, Danone acquired Your Heart, a pioneer in the plant-based industry. The acquisition would focus on the expansion of the company through the introduction of new organic products to satisfy consumer demand and preserve competitive advantage over other market participants.
- In April 2020, Amy's Kitchen launched new vegetable-packed gluten-free pizzas in April 2020. The new Veggie Crust Pizzas have organic sweet potato, broccoli and cauliflower crusts that are topped with mozzarella cheese and slow-simmered tomato sauce. The pizzas come in cheese and spinach flavors.
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1. Health Food Market - Overview
1.1 Definitions and Scope
2. Health Food Market - Executive Summary
3. Health Food Market - Comparative Analysis
3.1 Company Benchmarking - Key Companies
3.2 Global Financial Analysis - Key Companies
3.3 Market Share Analysis - Key Companies
3.4 Patent Analysis
3.5 Pricing Analysis
4. Health Food Market – Start-up Companies Scenario Premium
4.1 Key Start-up Company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Venture Capital and Funding Scenario
5. Health Food Market – Market Entry Scenario Premium Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing Business Index
5.3 Case Studies of Successful Ventures
6. Health Food Market - Forces
6.1 Market Drivers
6.2 Market Constraints/Challenges
6.3 Porter's Five Force Model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Threat of new entrants
6.3.4 Rivalry among existing players
6.3.5 Threat of substitutes
7. Health Food Market – Strategic Analysis
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Market Life Cycle
8. Health Food Market – by Product
8.1 Natural Health Food
8.2 Better for you (BFY) food
8.3 Functional Food
8.4 Organic Food
9. Health Food Market – by Distribution Channel
9.1 Offline
9.1.1 Supermarket/Hypermarket
9.1.2 Specialty stores
9.1.3 Convenience Stores
9.1.4 Others
9.2 Online
10. Health Food Market - by Geography
10.1 North America
10.1.1 The US
10.1.2 Canada
10.1.3 Mexico
10.2 Europe
10.2.1 The UK
10.2.2 Germany
10.2.3 France
10.2.4 Italy
10.2.5 Spain
10.2.6 Russia
10.2.7 The Rest of Europe
10.3 Asia-Pacific
10.3.1 China
10.3.2 India
10.3.3 Japan
10.3.4 South Korea
10.3.5 Australia & New Zealand
10.3.6 The Rest of Asia-Pacific
10.4 South America
10.4.1 Brazil
10.4.2 Argentina
10.4.3 Chile
10.4.4 Colombia
10.4.5 The Rest of South America
10.5 The Rest of the World
10.5.1 The Middle East
10.5.2 Africa
11. Health Food Market - Entropy
12. Health Food Market – Industry/Segment Competition Landscape Premium
12.1 Market Share Analysis
12.1.1 Market Share by Region – Key companies
12.1.2 Market Share by Countries – Key Companies
12.2 Competition Matrix
12.3 Best Practices for Companies
13. Health Food Market – Key Company List by Country Premium Premium
14. Health Food Market Company Analysis
14.1 Company 1
14.2 Company 2
14.3 Company 3
14.4 Company 4
14.5 Company 5
14.6 Company 6
14.7 Company 7
14.8 Company 8
14.9 Company 9
14.10 Company 10
* "Financials would be provided to private companies on best-efforts basis."
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