Human Nutrition Market Projected to Reach $189.2 Billion by 2030

The global human nutrition market is set to experience significant expansion, projected to reach $189.2 billion by 2030, according to the latest report by Meticulous Research®. With a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030, this growth is fueled by key factors such as rising consumer interest in health and wellness, increasing demand for fortified foods, lifestyle changes, and a growing focus on disease prevention.

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The heightened prevalence of chronic diseases and increasing applications of human nutrition in infant formulas and dietary supplements further underscore the market's potential. However, challenges such as stringent regulatory frameworks and the high costs associated with advanced nutrition products may pose obstacles to market growth.

Market Segmentation Insights

The human nutrition market has been segmented across several categories, including type, application, population category, and geography:

Type: The market spans a diverse range of nutrition types, including vitamins, probiotics, proteins and amino acids, carbohydrates, fats and fatty acids, and minerals. In 2023, the vitamins segment is expected to dominate, driven by increasing consumer attention to health, rising cases of vitamin deficiencies, and growing demand for vitamin-enriched food products. Additionally, the aging population in developed regions continues to contribute to this segment's growth.

Application: Among all applications, the functional beverages segment is anticipated to grow at the highest CAGR during the forecast period. This growth is attributed to the rising demand for sports drinks, fortified juices, and energy drinks, particularly in emerging economies, as well as increasing health consciousness and growing expenditure on wellness products.

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Population Category: The geriatric population is expected to account for the largest share of the market in 2023. Factors driving this segment's dominance include the increasing global aging population, heightened focus on improving digestive and immune health in older adults, and the prevalence of chronic diseases among this demographic.

Geographical Highlights

In 2023, North America is expected to capture the largest share of the global human nutrition market. The region's market leadership is driven by a well-established nutraceutical and functional food industry, high R&D investments in nutrition products, and increasing awareness of health-related issues such as cancer, diabetes, hypertension, and obesity. Furthermore, the growing focus on clean-label trends and the pursuit of healthy lifestyles are enhancing North America's stronghold in the human nutrition sector.

Competitive Landscape

The global human nutrition market is moderately competitive, with a mix of large multinational corporations and smaller regional players. Key market participants include Koninklijke DSM N.V. (Netherlands), Archer Daniels Midland Company (U.S.), Chr. Hansen Holding A/S (Denmark), Glanbia plc (Ireland), Corbion N.V. (Netherlands), Associated British Foods plc (U.K.), Arla Foods (Denmark), Ingredion Incorporated (U.S.), Tate & Lyle PLC (U.K.), Ajinomoto Co. Inc. (Japan), Cargill, Incorporated (U.S.), BASF SE (Germany), and Kerry Group plc (Ireland). These companies are driving growth through continuous product innovation, technological advancements, and strategic partnerships.

Market Growth Opportunities

The rising consumer preference for health and wellness, alongside the increasing awareness of nutrition's role in preventing chronic diseases, offers substantial opportunities for market players. Technological advancements and innovative product launches by industry leaders are also set to drive the expansion of the human nutrition market. Moreover, developing markets present lucrative growth prospects, where evolving consumer preferences and lifestyle changes are fueling demand for fortified and functional foods.

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This release was published on openPR.