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Complete Nutrition Products Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global complete nutrition products market was valued at USD 116.2 billion in 2022 and is projected to expand at a CAGR of 5.8% from 2023 to 2030. The rising health consciousness among consumers, along with the increasing popularity of functional food products and nutritional supplements, is driving the market. People are becoming more conscious about their health and are increasingly taking preventive measures to improve it. Therefore, the demand for complete nutrition products is increasing significantly.
Furthermore, the growing demand for sports nutrition products and nutraceuticals, along with increased awareness about the benefits of consuming complete nutrition products, is set to drive the market further. Besides, companies are focusing on new product launches and promotional activities to capture the market share. For instance, in June 2021, GSK Consumer Healthcare announced the launch of Horlicks Pro, an advanced nutrition drink. The product is specially formulated to meet the nutritional needs of adults, helping them stay active and energized.
The increasing demand for organic complete nutrition products is also driving the market. Consumers are increasingly opting for organic products due to their health benefits and are willing to pay a premium for it. Moreover, the increasing demand for plant-based complete nutrition products is further driving the market. The rising demand for vegan and vegetarian products is encouraging companies to launch plant-based complete nutrition products. For instance, in March 2021, Nestle India announced the launch of its new plant-based nutrition product, Garden Gourmet Incredible Burger, made from soy and wheat, in the Indian market.
Furthermore, the emergence of e-commerce is expected to offer potential opportunities for the market. Online platforms provide a wide array of products, including complete nutrition products, to consumers across the globe at attractive prices. Moreover, the increasing number of health and wellness apps for tracking dietary intake and providing personalized nutrition advice is also projected to support the growth of the market.
Product Insights
The vitamins segment dominated the market and accounted for a share of more than 33.7% in 2022. Increasing awareness related to the importance of a balanced diet among consumers is driving the demand for complete nutrition products. According to an article published by Healthline, in October 2019, vitamins are an essential part of a balanced diet and are essential for physical and mental well-being. Furthermore, manufacturers are developing innovative products in order to meet the growing demand for complete nutrition products. For instance, in February 2020, Nestle launched a new product, ‘Nestle Nutritional Beverage’, containing protein, carbohydrates, vitamins, and minerals.
The dietary supplements segment is expected to expand at the fastest CAGR of 7.5% over the forecast period. Growing popularity of dietary supplements and increasing awareness regarding the benefits of dietary supplements are some of the key factors driving the market growth. According to an article published by the National Institutes of Health, in April 2020, dietary supplements are an easy way to ensure that one gets the recommended daily amount of essential nutrients. In addition, manufacturers are launching new products with multiple health benefits in order to meet the rising demand for dietary supplements.
Distribution Channel Insights
The supermarkets and hypermarkets segment captured the major share of over 52.3% in 2022. The growth of the segment is mainly driven by the rising consumer inclination towards supermarkets & hypermarkets as a primary source to purchase complete nutrition products. According to a study by the International Journal of Food Science & Technology in 2020, men and women both favor supermarkets & hypermarkets for their convenience and variety of products. These establishments also provide a reasonable selection of products and assist customers in making rapid purchasing decisions for the required nutrition products.
The e-commerce segment is anticipated to expand at the highest CAGR of 16.2% over the forecast period. E-commerce development in the complete nutrition products industry has been rapid, with companies launching online websites and shopping apps to increase their brand visibility among consumers. For instance, in January 2022, Amazon launched a new online store dedicated to complete nutrition products. The store will offer brands across categories like vitamins, minerals, sports nutrition, weight management, and dietary supplements. In addition, it will also offer the best brands and products for customers along with expert advice and opinions on choosing the best nutrition products.
Type Insights
The functional foods segment accounted for the largest revenue share of 66.2% in the year 2022. The growth of the segment is attributed to the growing consumer demand for food products that offer health benefits beyond the basic nutritional value. The growing prevalence of chronic diseases such as diabetes, heart diseases, and obesity have led to a shift in consumer preferences towards functional food products. For instance, in April 2021, Nestle launched a new range of functional food products for diabetic patients under the brand name ‘Nestle Diabetes Care’. Such product launches are expected to drive the demand for functional food products in the forecasted period.
The dietary supplements segment is anticipated to expand at the highest CAGR of 15.2% over the forecast period. The increase in the demand for dietary supplements is attributed to the growing consumer preference towards convenient and portable nutrition that can be consumed without any additional preparation. Furthermore, the increasing awareness about the health benefits of dietary supplements and the growing demand for safe and natural products are some of the key factors propelling the growth of the segment. For instance, in April 2021, Glanbia launched a new range of dietary supplements under the brand name ‘Glanbia Nutritionals’. Such product launches are expected to drive the demand for dietary supplements in the forecasted period.
Regional Insights
Europe is expected to register the highest growth rate in the coming years. This is attributed to the increasing awareness about healthy lifestyles among the people, mainly due to the availability of a wide range of nutrition and health products. Additionally, the presence of several prominent players in the region, such as Pfizer, Nestle, and Abbott, is further expected to drive the growth of the market. For instance, in January 2021, Nestle launched a plant-based nutrition product, named Garden Gourmet Incredible Burger, in the UK.
Asia Pacific is anticipated to be the second-largest market and is likely to register the second-highest CAGR during the forecast period. This is attributed to the increasing awareness about the health benefits of complete nutrition products in the region. Furthermore, the rising demand for such products among athletes and bodybuilders is expected to drive the growth of the market in the region. Additionally, the presence of prominent players, such as Amway, Herbalife Nutrition, and Glanbia, is anticipated to propel the growth of the market.
Financial Projections
In this section of the Complete Nutrition Products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for the business. Generally, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenue for a Complete Nutrition Products business comes from the sale of products. However, other sources of income may also be included such as advertising, sponsorship, and fundraising. Here you will find a list with a description of each of them.
Projecting Expenses
In this section, all the regular expenses related to keeping the Complete Nutrition Products business running will be described. The list of operating expenses includes salaries, rent, utilities, insurance policies, and advertising. It is important to research the market and get an idea of the prices of the products and services you will be providing. This will help you to make more accurate projections.
Key companies & market share insights
Some of the key companies operating in the complete nutrition products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Nestlé launched NesPlus, a range of complete nutrition products designed to provide balanced nutrition for active adults.
– In August 2022, Abbott Laboratories launched the Ensure Gold range of complete nutrition products for adults.
– In October 2022, Glanbia plc launched Optimum Nutrition, a range of complete nutrition products for athletes.
Some of the prominent players in the complete nutrition products market include:
– Nestlé
– Abbott Laboratories
– Glanbia plc
– Amway
– Herbalife International of America, Inc.
– Unilever
– GNC Holdings, Inc.
– The Coca-Cola Company
– Atkins Nutritionals, Inc.
– The Hain Celestial Group, Inc.
Global Complete Nutrition Products Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global complete nutrition products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Vitamins
– Minerals
– Herbal Supplements
– Protein Supplements
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Pharmacies
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Organic
– Conventional
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Drivers of the Complete Nutrition Products Market?
[A]: The global complete nutrition products market is driven by factors such as increased health and wellness awareness, growing demand for healthy and natural food products, and the growing preference for organic and natural products. Additionally, technological advancements and product innovation have further contributed to the growth of the complete nutrition products market.
[Q]: What is the Potential of Product Innovation?
[A]: Product innovation is a key factor for the growth of the complete nutrition products market. Companies are focusing on providing products that are tailored to the needs of their customers. For instance, products such as meal replacement shakes, protein-based snacks and bars, and plant-based meal replacements are gaining popularity among consumers looking for convenient and healthy nutrition options.
[Q]: Who are the Key Players in the Complete Nutrition Products Market?
[A]: Some of the key players in the complete nutrition products market include Nestle S.A., Unilever PLC, Kellogg Company, Abbott Laboratories, General Mills Inc., and The Coca-Cola Company.
[Q]: Which Region Offers the Largest Opportunity for Sales of Complete Nutrition Products?
[A]: North America is expected to be a lucrative market for complete nutrition products, with an absolute dollar opportunity of $50 B (USD), owing to the increasing health awareness among consumers, the presence of major players, and the increasing demand for healthy food products.
[Q]: What Factors are Restraining the Growth of the Complete Nutrition Products Market?
[A]: Factors such as the high cost of natural and organic products and the stringent regulations regarding the labeling of food products are restraining the growth of the complete nutrition products market. Additionally, the presence of counterfeit and low-quality products in the market is also hampering the growth of the market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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