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Complete Nutrition Products Market Size, Share And Outlook By 2033
Complete Nutrition Products Market Size
According to The Business Research Company's, The complete nutrition products market size has grown strongly in recent years. It will grow from $5.56 billion in 2023 to $5.91 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to increased health consciousness, aging population, busy lifestyles, sports and fitness trends, nutritional deficiency awareness.
The complete nutrition products market size is expected to see strong growth in the next few years. It will grow to $7.58 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to personalization and customization, e-commerce and direct-to-consumer channels, focus on mental health and cognitive function, sustainability and ethical considerations, government initiatives and regulations. Major trends in the forecast period include personalization and customization, plant-based and alternative proteins, functional ingredients for health benefits, convenience and on-the-go options, digital health and wellness integration.
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Market Drivers and Trends:
The rising prevalence of health conditions such as obesity, cardiovascular disease, and cancer is expected to propel the growth of the complete nutrition products market going forward. The health condition refers to a growing number of individuals experiencing health issues related to obesity, including heart disease, stroke, and specific forms of cancer. Complete nutrition products are part of a balanced diet and lifestyle to help manage health issues by providing a balanced mix of macronutrients and essential micronutrients. For instance, In March 2023, according to a report published by the World Obesity Federation, a UK-based professional organization, more than 4 billion individuals, constituting 51% of the global population, will be grappling with overweight or obesity by 2035. Additionally, nearly 2 billion people, translating to 1 in 4 individuals, are anticipated to be affected by obesity. Furthermore, in December 2022, according to the Journal of the American College of Cardiology (JACC), a peer-reviewed medical journal published by the American College of Cardiology, ischemic heart disease accounted for 9.44 million cardiovascular deaths in 2021. In addition, hypertensive heart disease and pulmonary arterial hypertension accounted for 1.41 million and 23,300 deaths, respectively. Therefore, the rising prevalence of health conditions such as obesity, cardiovascular disease, and cancer is driving the market growth for complete nutrition products.
Product innovations are a key trend gaining popularity in the complete nutrition products market. Companies operating in complete nutrition products market are adopting new technologies to create innovative nutritional products and sustain their position in the market. For instance, in July 2021, Glanbia Nutritionals Inc., a US-based nutrition company, launched Ket*oSure MCT, a premium medium-chain triglyceride (MCT) oil powder that is designed to support the ket*ogenic diet. Glanbia Nutritionals is used as a proprietary technology of the spray-drying process to create a highly dispersible MCT oil powder that is easy to use in a variety of applications, including protein powders, meal replacement shakes, and snack bars.
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Major Key Players of the Market:
Huel Limited; Numix LLC; IdealShape LLC; SlimFast Group; LadyBoss Weight Loss LLC; RSP Nutrition LLC; Bright Lifecare Pvt. Ltd.; Jimmy Joy B.V.; YFood Labs GmbH; Herbalife Nutrition Ltd.; Amway Corporation; Ample Foods Inc.; Danone S.A.; Abbott Laboratories; PROBAR LLC; Nestlé S.A.; GlaxoSmithKline plc; The Nature's Bounty Co.; Nature's Way Products LLC; Garden of Life LLC; NOW Foods; Isagenix International LLC; Orgain Inc.; MuscleTech; Vitacost.com Inc.; USANA Health Sciences Inc.; AdvoCare International L.P.; Pharmavite LLC; Bayer AG; XanGo LLC; SmartyPants Vitamins; Barlean's; Optimum Nutrition; Swisse Wellness Pty Ltd; Pure Protein Corporation; Ambronite; Arbonne International LLC; Quest Nutrition LLC; Bio-Engineered Supplements and Nutrition Inc.; Amazing Grass; Rain International LLC; Sunwarrior
Complete Nutrition Products Market 2024 Key Insights:
• The complete nutrition products market will grow to $7.58 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• Global Surge In Health Conditions Fuels Growth Of Complete Nutrition Products Market
• Product Innovations Drive New Heights In The Complete Nutrition Products Market
• North America was the largest region in the complete nutrition products market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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