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Projected Market Growth The report forecasts that the global human nutrition market will reach $189.2 billion by 2030, with a CAGR of 7.4% from 2023 to 2030. The growth trajectory of the market is primarily driven by increasing health awareness among consumers, a rising demand for fortified foods, lifestyle changes, and an uptick in chronic diseases.
Key Growth Drivers Several pivotal factors are driving the expansion of the human nutrition market:
- Health and Wellness Awareness: A surge in consumer focus on health is prompting higher demand for nutrition products.
- Demand for Fortified Foods: More consumers are seeking fortified options to meet their dietary needs.
- Chronic Illness Rates: The growing prevalence of chronic diseases is increasing the demand for nutritional support.
- Innovations in Technology: Ongoing technological advancements and new product launches are expected to bolster market growth.
Market Challenges Despite the favorable growth outlook, the market is expected to encounter challenges, including stringent regulations and high product prices that could hinder its overall growth.
Segmentation of the Human Nutrition Market The human nutrition market is segmented into various categories for a thorough analysis:
- Types: This category includes vitamins (fat-soluble and water-soluble), proteins, carbohydrates, fats and fatty acids, and minerals. The vitamins segment is projected to dominate the market in 2023, attributed to growing health concerns and a significant number of vitamin deficiencies among consumers.
- Applications: The market is divided into functional foods, functional beverages, dietary supplements, and other applications. The functional beverages segment is expected to exhibit the highest CAGR due to the rising demand for health-oriented drinks.
- Population Categories: The report discusses segments such as pediatric, geriatric, maternal, and athletic populations. The geriatric segment is projected to capture the largest market share due to an aging population and the necessity for maintaining health in older adults.
Regional Insights North America is anticipated to dominate the human nutrition market in 2023 due to a robust nutraceutical industry, substantial investment in R&D, and rising rates of chronic diseases.
Leading Market Players The human nutrition market is characterized by a competitive landscape with various players, including: 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).
Conclusion The human nutrition market presents significant growth opportunities driven by consumer trends and technological innovations. However, challenges related to regulations and pricing remain critical for market stakeholders to address.
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