Human Nutrition Market Forecasted to Hit $189.2 Billion by 2030
Author : Pallavi Garudkar | Published On : 02 May 2024
Meticulous Research®, a renowned global market research firm, has unveiled its latest research report titled, ‘Human Nutrition Market by Type (Vitamins, Proteins, Minerals, Fatty Acids, Carbohydrates), Application (Functional Food, Functional Beverages, Dietary Supplements), Population (Geriatric, Pediatric, Maternal), and Geography - Global Forecast to 2030.’ This comprehensive report provides in-depth insights and forecasts for the global human nutrition market landscape up to 2030.
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According to the findings of this groundbreaking publication, the global human nutrition market is poised to soar to $189.2 billion by 2030, exhibiting a remarkable CAGR of 7.4% from 2023 to 2030. The surge in market growth can be primarily attributed to the escalating health and wellness trend worldwide, coupled with an increasing consumer demand for fortified food products. Lifestyle transformations, rising incidences of chronic diseases, and the expanding utilization of infant formulas and dietary supplements further fuel this exponential growth trajectory.
Moreover, the report underscores the pivotal role of product launches and technological innovations by industry leaders, which are anticipated to unlock lucrative market growth opportunities. However, the market expansion may encounter obstacles in the form of stringent regulatory frameworks and the elevated prices of nutritional products.
Segmentation and Market Dynamics:
The human nutrition market analysis is meticulously segmented by type, application, population category, and geography. Notably, the vitamins segment is poised to dominate the market landscape in 2023, fueled by burgeoning consumer awareness regarding health enhancement and the escalating prevalence of vitamin deficiencies.
Among the applications, the functional beverages segment is forecasted to witness the highest CAGR during the projection period, driven by the burgeoning demand in emerging economies and the surging preference for sports drinks.
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In terms of population categories, the geriatric segment is anticipated to command a substantial market share in 2023, owing to the escalating aging population and the pressing need to bolster the digestive and immune systems of elderly individuals.
Regional Dynamics
North America emerges as the epicenter of the human nutrition market, slated to commandeer the largest share in 2023. This hegemony can be attributed to the region’s well-established nutraceutical and functional food industry, burgeoning demand for nutritional supplements, substantial investments in research & development, and a mounting prevalence of chronic diseases.
Key Players:
The global human nutrition market stands witness to a moderately competitive landscape, with a myriad of global, regional, and local players vying for market supremacy. Notable industry stalwarts include Koninklijke DSM N.V., Archer Daniels Midland Company, Chr. Hansen Holding A/S, Glanbia plc, Corbion N.V., Associated British Foods plc, Arla Foods, Ingredion Incorporated, Tate & Lyle PLC, Ajinomoto Co. Inc., Cargill, Incorporated, BASF SE, and Kerry Group plc.
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