Nutritional Food Market: By Products (Bakery and Cereals, Dairy Products, Meat, Fish and Eggs, Soy Products, Fats and Oils, and Others), By Ingredient (Carotenoids, Dietary Fibres and Carbohydrates, Fatty Acids, Minerals, Anti-oxidants, Prebiotics and Probiotics, Vitamins, Proteins, and Others), By Indications (Allergies, Bone and Joint, Glucose Management, Cancer, Cardiovascular, and Skin), By Application (Sports Nutrition, Weight Management, Immunity, Digestive Health, Clinical Nutrition, Cardio Health, Paediatric, Veterinary, Medical, Personalized, and Others), and Geography

Nutritional Food Market size was valued at USD 6,382.9 million in 2023 and is projected to grow at 7.5% CAGR over the forecast years to reach USD 10,589.5 million by 2030. The nutritional food market is experiencing significant growth, driven by several factors increasing health consciousness, rising chronic diseases, growing disposable income, and increasing urbanization. Consumers are becoming more aware of the link between diet and health, and they are increasingly looking for foods that can help them improve their well-being. This is driving demand for nutritional foods that are high in nutrients and low in unhealthy ingredients. The prevalence of chronic diseases such as obesity, diabetes, and heart disease is on the rise globally. Around 16% of adults aged 18 years and older worldwide were obese in 2022. This is leading to a growing demand for foods that can help prevent or manage these conditions.

Nutritional foods that are formulated to address specific health concerns are well-positioned to benefit from this trend. Consumers in many parts of the world have more disposable income than ever before, allowing them to spend more on premium foods, including nutritional foods. The world's population is becoming increasingly urbanized, leading to a busy lifestyle and a growing demand for convenient and healthy food options, and nutritional foods that have become convenient and easy to prepare are well-positioned to benefit from this trend.

However, some challenges hinder the nutritional food market growth such as higher price points, lack of awareness, limited availability, and regulatory hurdles. Innovation, education, expansion into new markets, and e-commerce are opportunities in the nutritional food market, and personalized nutrition, plant-based nutrition, functional foods, and sustainability are the trends in the nutritional food market.

Nutritional Food Market Key Developments:

• In April 2023, Kirin announced its acquisition of Australian complementary medicine company Blackmores for AUD 1.88 billion (USD 1.24 billion). This deal is expected to enhance Kirin’s R&D capabilities and expand product offerings, particularly in immunity-boosting and functional foods.
• In May 2024, Western Smokehouse Partners acquired Golden Valley Natural, a jerky company, to expand its portfolio and production capacity in the meat snack segment.